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Israeli media: Intense US efforts are being made to resolve differences, such as the issue of the Israeli presence on Mount Hermon and in southern Syria
Israeli media: The security agreement means amending the disengagement agreement, which will also address the Druze issue
Israeli media: Attempts to reach a security agreement between 'Israel' and Syria were among the topics discussed at the Paris meeting
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Al Mayadeen's correspondent: The Israeli aggression targeted the Yemeni Oil Company station on Al-Sitteen Street, southwest of the capital, Sanaa, with several raids

Freefalling Lebanese currency hits unprecedented new low

  • By Al Mayadeen
  • Source: Agencies
  • 14 Dec 2021 15:59
1 Min Read

The Lebanese federations and unions of the road transport sector have said they were going on strike as the LBP/USD crossed the 28,000 LBP threshold.

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  • Lebanon's crisis reaches unprecedented levels
    Lebanon's crisis reaches unprecedented levels.

The federations and unions of the road transport sector in Lebanon said Thursday they were resorting to a strike in light of the earth-shattering hike in fuel prices all over the country.

"The prices of oil derivatives used to come out one every week, but now it comes out twice a week, and it might go up to three times over US dollar price increases and fuel demand," Land Transport Unions Head Bassam Tlais said Tuesday.

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"Logic has it that the state must follow its people and preserve their purchasing power, not follow traders without taking the people's pains into consideration," he stressed.

The Lebanese pound collapsed further on Tuesday, hitting a new low with one US dollar surpassing the threshold of 28,000 LBP, which is unprecedented in the history of Lebanon.

The Lebanese currency has been diminishing since the 2019 crisis, at the beginning of which $1 USD was equal to 1500 LBP.

  • Lebanon crisis
  • USD
  • Lebanon

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