Lebanese pound hits historic low of 100,000 to dollar

THE Lebanese pound sank to a historic low against the dollar on the parallel market today, foreign exchange dealers said, as banks in the crisis-hit country resumed an open-ended strike.

The Lebanese pound, officially pegged at 15,000 to the dollar, was trading at 100,000 against the greenback, dealers said – a dizzying plunge from 1,507 before the economic crisis hit in 2019.