The main entrance of the Banque du Liban (BDL) Photo credit: Libnanews.com, all rights reserved
The main entrance of the Banque du Liban (BDL) Photo credit: Libnanews.com, all rights reserved

The value of the Lebanese pound collapses on the Banque du Liban exchange platform called Sayrafa, with a parity rate of 21,000 LL / USD. 3,500,000 million dollars were traded on Friday, November 26, while the Lebanese pound is also at its lowest level on the black market, with a parity above 25,000 LL / USD.

The news comes as the Banque du Liban threatened legal action against the main application download platforms in a statement released today.

This deterioration is not a surprise, however, judge specialists who note that the Bank of Lebanon has forced fuel importers in particular to finance 10% of purchases on parallel markets, putting additional pressure on the Lebanese pound.

In addition to this decision, the operators also preempt an imminent increase in the money supply, in favor of a project to increase the transport allowances granted to civil servants or the fact of having granted to these same civil servants and to retirees of the function. public, an additional half a month in a futile attempt to cope with the deterioration in the value of their wages.

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