Lebanese Lira Hits Record Low Of 42,000LL On The Dollar

Amid excruciating economic turmoil that has left over 70% of the population below the poverty line, the Lebanese lira has plummeted to a new all-time low of 42,000LL against the US dollar at the time of writing.

⚠️🇱🇧 Lebanese lira hits new all-time low on the parallel market, at 42.000 LBP/$. #Lebanon #crisis

— Matthieu Karam (@MatthieuKaram) December 8, 2022

The lira has witnessed a steady decline over the past few years, paralleled with a skyrocket in the prices of basic goods and necessities.

Additionally, a protest is set to take place on December 8 at noon at the Beirut Port against the increase of the customs exchange rate to 15,000LL, led by local business owners.

With no recovery plan in sight, the free-falling currency has left citizens in limbo, struggling to make ends meet and maintain a stable income with the lira’s decline.