"And I have found both freedom and safety in my madness, the freedom of loneliness and the safety from being understood, for those who understand us enslave something in us. But let me not be too proud of my safety. Even a Thief in a jail is safe from another thief. "

Khalil Gibran (How I Became a Madman)

Lübnan Marunîleri / Yasin Atlıoğlu


Tuesday, January 24, 2023

Lebanese lira trades above LL54,000 to the dollar - L'Orient Today

 "If the current political and economic status quo continues to prevail throughout 2023, it is likely that the lira to dollar exchange rate will double at the end-of-year horizon," an expert warns. 

BEIRUT — The Lebanese lira continued its tumble on the parallel market on Tuesday, exceeding LL54,000 against the US dollar, according to several mobile tracking applications. 

This new low stirred anger in the streets of different regions, according to the National News Agency and L'Orient Today's local correspondents. 

According to the Lirarate.org platform, the dollar was trading at LL54,600 to buy and at LL54,500 to sell as of 3:30 p.m.

The gap between the parallel market rate and that of the Sayrafa platform (LL38,000 to the dollar since last week), designed by Banque du Liban to try to stabilize the exchange rate, now stands at around LL16,000.