BEIRUT: The Lebanese pound maintained its rise in value on the black market Friday, trading at LL7,850 against the dollar.

Black market traders were buying the dollar for LL7,700 and selling it for LL8,000. Some unlicensed exchangers were also selling the dollar for LL8,200. Thursdays exchange rate was at LL8,250 on the black market.

The Central Bank set the daily exchange rate on its Sayrafa electronic platform at LL3,900 for selling dollars and LL3,850 for buying them. Lebanese people can access dollars from exchangers for certain types of transactions only, and after providing the necessary documents.

The Lebanese pound at the black market rate has lost more than 80 percent of its value compared to its official peg set by the Central Bank at LL1,507.5, which is only used for subsidizied imports of wheat, medicine and fuel.

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