Protests erupt in Lebanon as pound hits new low against dollar | Bassem Mroue
- Date: 22-Mar-2023
- Source: Arab Weekly
- Sector:Financial Markets
- Country:Lebanon
Protests erupt in Lebanon as pound hits new low against dollar | Bassem Mroue
BEIRUT –
Protesters closed down major roads in parts of Lebanon on Tuesday after the Lebanese pound briefly hit a new low amid an historic economic crisis that seemingly has no end in sight.
The Lebanese pound lost more than 15% of its value on Tuesday alone, tanking to more than 140,000 pounds to the dollar. A week ago, the dollar was worth 100,000 pounds.