The Lebanese pound continues its collapse with the symbolic threshold of 20,000 LL / USD on the black market, definitively burying with it the attempt of the Bank of Lebanon to attempt to control the foreign exchange market via its electronic platform Sayrafa
The buy parity is 19,600 LL / USD and the sell parity 19,650 LL / USD without the bearish momentum being able to find a resistance threshold for the time being.
This information comes at a time when the Bank of Lebanon seems to be experiencing significant difficulties in financing the purchase of fuels for power stations but also for public and private cars. It would thus seem that despite the promises of the governor of the Bank of Lebanon, Riad Salamé, the monetary reserves are now exhausted, estimate the local observers.
In addition, the chances that Prime Minister-designate Saad Hariri will step down increase, bringing the political situation to its starting point, which will further delay the formation of a new government, negotiations with the IMF and structural reforms deemed essential for the release of the international aid necessary for the revival of economic activity.