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The USD black market exchange rate continues to fluctuate substantially due to devaluation of the Lebanese pound caused by acute dollar shortages within Lebanon. [26] This dollar shortage also caused 785 restaurants and cafes to close between September 2019 and February 2020, and resulted in 25,000 employees losing their jobs.
Parallel market rate = LL 89,601.44 (May 2024). [30] The parallel (or black) market rate is significantly higher than the official exchange rate. [citation needed] Due to extensive dollarization of the economy, which caused the circulating supply of Lebanese currency to stop growing, depreciation of the Lebanese pound was effectively halted.
Lebanon's national currency, the Lebanese pound is pegged to the US dollar at £L15,000 to US$1. This fixed rate has been unstable due to the depreciating value of the pound in the black market. According to reports, the pound was trading at £L8,100 to US$1 in 2019 on the black market.
The black market exchange rates (USD to MMK) decrease during the peak of the tourist season in Burma (December to January). During the 2003 Myanmar banking crisis, the kyat's black market rate appreciated when distrust in kyat-deposited banks increased demand for kyat banknotes. [4] At its peak, the kyat traded for as high as Ks. 850/- per USD. [5]
In August 2019, due to various financial problems, the black market exchange rate began to change from the official exchange rate. [4] [5] The USD black market exchange rate remains to fluctuate substantially due to the devaluation of the Lebanese pound caused by sharp USD shortages within Lebanon. [6] The Lebanese pound has lost about 90% of ...
In November 2013, it was almost one-tenth that of the official fixed exchange rate of Bs.F 6.30 per US dollar. [63] In September 2014, the currency black market rate for the hard bolívar reached 100 VEF/USD; [64] on 25 February 2015, it went over 200 VEF/USD.
In 1998, in order to ease pressure on exporters, the central bank introduced a currency certificate system allowing exporters to trade certificates for hard currency on the Tehran Stock Exchange, thus creating a floating value for the rial known as the "TSE rate" or "market rate". This method finally replaced the fixed "export rate" (Rls 3,000 ...
On 10 October 1958, the kip's peg switched to the US dollar, and was officially devalued from ₭35 to ₭80 per US dollar: [4] however, the official exchange rate did not reflect market conditions at the time, with the parallel rate reaching ₭600 per dollar by the end of 1963. Laos devalued the kip again on 1 January 1964, and adopted an ...
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