BEIRUT: The Lebanese pound was stable against the dollar Monday, trading at LL8,900 on the black market.

Black market exchangers were selling the dollar for around LL8,950 and buying it for LL8,850.

The dollar has mostly traded within a tight band of LL8,500-LL9,000 since the start of the year as the country awaits a long-overdue government to be formed.

Hopes for new developments in the stalled government formation process have been heightened as Prime Minister-designate Saad Hariri is set to return from a foreign trip this week and possibly meet with President Michel Aoun. This also coincides with mounting international and regional pressure on Lebanese leaders to quickly form a Cabinet to implement reforms as the country collapses.

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