BEIRUT: The Lebanese pound hit yet another new record low Tuesday, trading for LL15,100 against the dollar on the black market.

Exchange dealers were selling the dollar for LL15,200 and buying for LL15,000 on the black market, as the local currency continued its sharp decline against the greenback. It was traded at LL14,050 in the morning but a lack of supply drove the dollar up, dealers said. The dollar traded for LL13,050 Monday.

The pound has now lost more than 20 percent of its value over the past month alone as the country struggles to resolve a political crisis that has left it without a fully functioning government for more than seven months and an ailing economy teetering on the verge of total collapse.

The pound's record-breaking drop has sparked protests across the country in recent weeks against the financial and political elite who protestors say neglect the peoples needs and are responsible of rampant corruption and financial mismanagement.

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