BEIRUT: The Lebanese pound slightly fell on the black market Wednesday with no end in sight for the country's political deadlock that is preventing the formation of a new government.

Exchange dealers sold the greenback for LL8,950 and bought it for LL8,900, compared to LL8,950-8,850 over the weekend.

With the political uncertainty still unabated, the dollar appeared to soon test the psychological resistance rate of LL9,000, which it breached only briefly last summer.

The pound has lost 80 percent of its value since late Oct. 2019 with political bickering and finger pointing blocking decisive policies and reforms by the authorities to stop the further decline of the currency while people are already in a struggle to make ends meet.

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