Lebanese pound rises against dollar after slight drop

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BEIRUT: The Lebanese pound rose against the dollar on the black market Wednesday, trading at around LL7,600, after dropping slightly the day before.

Black market exchangers were selling the dollar at around LL7,700 and buying it for LL7,500.

Banque Du Liban Wednesday set the rate on the Sayrafa electronic platform for licensed exchangers at LL3,850 for buying dollars and LL3,900 for selling the greenback.

The pound has lost around 80 percent of its value, dramatically decreasing the purchasing power of many Lebanese.

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