Lebanon’s pound hits a new low as banks go back on strike

Written by on March 14, 2023


Lebanon’s embattled currency hit a new low Tuesday, trading at an unprecedented 100,000 Lebanese pounds to the dollar on the black market as the crisis-hit country’s banks went back on strike.

The pound has kept sinking since Lebanon’s financial meltdown erupted in 2019, following decades of rampant corruption and mismanagement by the country’s political and financial elite. Three-quarters of Lebanon’s population of over 6 million now lives . . .

Current track