The economic crisis worsens as dollars remain scarce in the Lebanese market. This scarcity is reflected today on various economic sectors as well as the increase in prices and cost of living in addition to causing an increase in the price of dollars in the unofficial market. The official price of the dollar is no longer being traded according to, but according to the price in the parallel market which is subject to the law of supply and demand.
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As the crisis worsened and the price of the dollar at money exchange shops reached 2,000 pounds, protesters in Tripoli yesterday closed several exchange shops in protest the manipulation of the price of the dollar and adopting a much more expensive price than the official one. Tens of young men protested in Tripoli in front of those shops and forced them to close.
Protestors in Saida last Wednesday took the same step in closing several exchange and money transfer shops.
Despite the stability of the US dollar in the Beirut Stock Exchange, where it closed last week on an average price of 1507.50 Lebanese pounds, the exchange rate of the Lebanese pound against the US dollar in the “parallel market” hit a record high in the last two days, exceeding the threshold of 2000 pounds per dollar at some cashiers.
