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According to Al Jazeera, the Lebanese pound on Thursday plummeted to a new rate of more than £L7,000 to the dollar on the black market. Following the protests that erupted, President Michel Aoun on Thursday held a national meeting with Lebanon's top politicians, in fear of further escalation of the protests into a civil war.
The official rate was increased by a multiple of 9.95 on 1 February 2023 as per decision of the central bank to reach LL 15,000 per USD. [27] Lebanon's Central Bank's "Sayrafa" rate = LL 86,400 (May 2023). [28] The Sayrafa rate is the rate the central bank redeems international credit and debit card payments.
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.
Nahr al-Bared (Arabic: نهر البارد, literally: Cold River) is a Palestinian refugee camp in northern Lebanon, 16 km from the city of Tripoli. Some 30,000 displaced Palestinians and their descendants live in and around the camp, which was named after the river that runs south of the camp.
Bundles of Lebanese pound banknotes, their value now drastically reduced. The Lebanese liquidity crisis is an ongoing financial crisis affecting Lebanon, that became fully apparent in August 2019, and was further exacerbated by the COVID-19 pandemic in Lebanon (which began in February 2020), the 2020 Beirut port explosion and the Russian invasion of Ukraine.
Banque du Liban (Arabic: مصرف لبنان; English: Bank of Lebanon) is the central bank of Lebanon. It was established on August 1, 1963, and became fully operational on April 1, 1964. It was established on August 1, 1963, and became fully operational on April 1, 1964.
In the same study it was also found that the paper was the second most popular paper in Lebanon after An Nahar. [16] The Ipsos study in 2006 revealed that Al-Balad had the largest rate of subscribers with 23.8% whereas An Nahar had only 2.6%. [16] The paper was also found to have the highest circulation in Lebanon in 2006. [16]
L'Orient–Le Jour takes a fierce line against Hezbollah, and also against elite corruption in Lebanon. It was one of the few Arab news outlets to say that the 2023 Hamas-led attack on Israel was an unjustifiable massacre.