Lebanese pound up slightly against dollar

Black market exchange dealers were selling the greenback for LL9,400

  
A customer wearing gloves holds Lebanese pounds at a currency exchange store, during a countrywide lockdown to combat the spread of coronavirus disease (COVID-19) in Beirut, Lebanon April 3, 2020.

A customer wearing gloves holds Lebanese pounds at a currency exchange store, during a countrywide lockdown to combat the spread of coronavirus disease (COVID-19) in Beirut, Lebanon April 3, 2020.

REUTERS/Mohamed Azakir

BEIRUT: The Lebanese pound rose marginally against the dollar Tuesday, trading at LL9,375 on the black market.

Black market exchange dealers were selling the greenback for LL9,400, and buying it for LL9,350, a marginal drop from Monday's LL9,450.

The pound has been in free-fall since late 2019, and has lost more than 80 percent of its market value. It is projected to keep fluctuating near its record high of LL9,800 in the coming weeks as political tensions rise.

The Lebanese people have been demanding the enactment of sound economic and fiscal policies that would allow the pound to stabilize and give them back some of the purchasing power they have so drastically lost.

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