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BEIRUT: The Lebanese pound rose on the black market Tuesday, trading at LL12,250 against the dollar, as reports indicated renewed local efforts to ease the country's political crisis.
Exchange dealers were buying the dollar for LL12,200 and selling it for LL12,300. The greenback traded for LL12,850 Monday.
Lebanons economic crisis has pushed more than half of the countrys 6 million population into poverty, while politicians bicker over the formation of a new government, which should promptly enact economic reforms and begin negotiations with international financial organizations.
Political sources reported Monday night a push by local players to mediate in the rift between President Michel Aoun and Prime Minister-designate Saad Hariri over the formation of the new Cabinet.
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