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BEIRUT: The Lebanese pound rose against the dollar Monday, trading at around LL8,150 on the black market two days before a conference about aid to Beirut, hosted by France and the UN, is set to take place.
Black market exchangers were selling the dollar for LL8,175 and buying it for LL8,125. The pound fell against the dollar Friday, trading at around LL8,300.
France and the UN are set to host a new conference Wednesday about aid to Beirut after its devastating port explosion in August, while government formation efforts in Lebanon remain at a standstill.
In his latest plea to Lebanese leaders to form a new government, French President Emmanuel Macron, in a letter last week to President Michel Aoun, stressed that the implementation of the French road map was essential to attracting international aid and averting Lebanons economic collapse.
A glimmer of hope also emerged as political sources Sunday said that Prime Minister-designate Saad Hariri is expected to meet with Aoun soon to present him with a draft Cabinet lineup in an attempt to break the weekslong government deadlock.
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