The Lebanese pound lost ground again against the dollar on the black market on Friday, February 26, with a parity rate on the purchase of 9,675 LL/USD and the sale of 9,725 LL/USD against a background of political crisis still significant with the absence of a functioning government capable of negotiating the release of international aid with the IMF, economic crisis as the bdL’s deadline for increasing the capital of local banks, which many observers and social and economics, with the significant deterioration in the purchasing power of the population, will end on 28 February.
Observers expect this deterioration to continue due to the lack of a solution at present, particularly at the economic level with the imminent end of the Bank of Lebanon’s available monetary reserves subsidizing the purchase of essential products, which have so far kept the pressure on the local currency contained. Fuel price increases have already been observed in the last two weeks.
