The exchange market is witnessing a complete chaos without supervision or accountability (Hussein Beydoun)
The dollar exchange rate in Lebanon continues to rise significantly, recording in the evening hours 39,000 Lebanese pounds, to approach the 40,000-pound line for the first time in the country’s history, in an expected scenario in light of the banks closing their doors in compliance with the strike extended until Wednesday, and the political differences that prevent until now The formation of the government, and the absence of reform measures and rescue programs on the part of the official authorities.
The exchange rate of the dollar on Monday evening ranged between 39,000 and 39,100 pounds, after it had recorded in the morning a price between 38,200 and 38,400 pounds, knowing that the money changer’s doors are closed at this time.
It is noteworthy that prices vary from one teller to another, and the highest remains recorded through electronic applications that merchants recognize when setting their prices, while they are lower when citizens resort to selling dollars.
One of the first repercussions of the rise, attention is quickly turning to the fuel price tomorrow, Tuesday, which will be determined by the Ministry of Energy and Water, especially with regard to gasoline, which the Central Bank of Lebanon removed from the subsidy days before, to be priced according to the parallel market price. Instead of 38000 pounds to the dollar.
On Monday morning, fuel prices rose by 6,000 Lebanese pounds for 95 and 98 octane gasoline, 8,000 pounds for diesel oil and 3,000 pounds for gas.
The prices became as follows: a can of gasoline (20 liters) 95 octane 685 thousand pounds, 98 octane 701 thousand pounds, a can of diesel 835 thousand pounds, and a gas bottle 390 thousand pounds.
In parallel, the exchange rate through the “Exchange” platform affiliated with the Banque du Liban also increased, recording 29,800 Lebanese pounds to the dollar, which is set for the exchange rates of operations carried out by banks and exchange institutions on the platform, knowing that it was 29,600 pounds on Friday.