Lebanon devalued its pound by 90%

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Lebanon devalues ​​its pound by 90%

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The Central Bank Lebanon by setting a new exchange rate of the Lebanese pound for the US dollar – 15,000 Lebanese pounds/$1, devaluing the currency by 90%. In continuation of the 25th year, the official exchange rate was exchanged for the currency 1,507 Lebanese pounds for the dollar.

A new exchange rate will be held to exchange money from the Lebanese pounds from the US dollars. Investors cannot withdraw dollars from them in 2019, remind Podrobnosti. 

More foreign exchange transactions in Lebanon are outside the official market. The American dollar on the black market is trading at the rate of 59,000 Lebanese pounds.

The rate of the Lebanese pound fell in 2019 due to the financial crisis in the country, caused by the political situation. In the spring of 2020, Lebanese, having voted a default on bonds in dollars, the country's most famous borg, having seized 150% of the country's GDP ($90 billion).

, more 6 yew. took away the wound. The port of Beirut is one of the largest ports in the world, it accounted for up to 60% of imports in the country.

Prepared by: Sergiy Daga 

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