BEIRUT: The Lebanese pound was slightly up on Monday, trading at 19,050 to the dollar on the black market, exchange dealers said.

Dealers said they were buying the greenback for LL 19,000 and selling it at LL 19,100, slightly up from last week, when hopes of a government breakthrough were dashed leading to a slump.

Prime Minister-designate Najib Mikatis efforts to form a new government have been stalled after a rift with President Michel Aoun over proposed candidates for key ministries. Lebanon has been managed by a caretaker government since August 2020.

The pound has lost more than 90 percent of its value since late 2019, pushing more than half the population below the poverty line as the country struggles with its worst economic crisis in modern times.

Copyright 2021, The Daily Star. All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an as is and as available basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.