Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Al Mayadeen's correspondent in Lebanon: Two Israeli airstrikes targeted Wadi al-Aziziya in the Tyre district.
CIA spokesperson says law enforcement responded to a security incident outside CIA headquarters.
Brigadier General Saree: Operation achieved its targeted successfully, forcing millions of Zionists to flee to shelters, and halted air traffic at the airport.
YAF spokesperson: We've executed a military operation targeting Ben Gurion Airport in occupied Yafa with ballistic hypersonic missile.
IOF warning forces residents to evacuate and head South in preparation for expansion of aggression.
IOF issues large-scale evacuation orders for residents of 14 areas in northern Gaza.
Israeli media say that for second time in span of hours, a ballistic missile is launched from Yemen toward "Israel".
Israeli media say large explosion heard in central "Israel".
Israeli media: Missile launch from Yemen takes place at end of Yahya Saree's announcement.
Israeli media: Sirens blare in occupied Al-Quds.

Lebanese pound value hits record low

  • By Al Mayadeen English
  • Source: Agencies
  • 26 May 2022 12:41
2 Min Read

With the ongoing decline of the Lebanese pound against the dollar, the economic crisis in Lebanon -one of the world's worst since the 1850s intensifies.

  • x
  • This record breaks the previous one reached in January.
    This record breaks the previous one reached in January.

On Thursday, the Lebanese pound declined greatly against the dollar reaching a ranging record low of 35,200LBP for every 1$ and is on a downward spiral.

This record breaks the previous one set in January when the dollar exchange rate hit a record high, reaching 33,500 Lebanese pounds against the dollar, while the official exchange rate of the Lebanese pound has been fixed since 1997 at 1,507 pounds against the dollar.

Since the results of the parliamentary elections got released, the Lebanese pound broke a record high on the black market.

Related News

Lebanese currency hits lowest value ever against US dollar

Lebanese pound hits new record in declining value

Read more: Why are the Lebanese people voting?

 

 

The Lebanese currency has diminished since the 2019 crisis after it had been fixed at 1,507LBP for every dollar since 1997. As a result of this crisis, the national currency has lost 95% of its market value in about two years. 

Lebanon suffers from a deepening economic crisis - one of the world's worst since the 1850s - widely blamed on government corruption and mismanagement, not to mention US meddling in the country.

Go deeper:  US diplomat: US-backed Lebanese opposition self-centered, narcissistic

 

A full tank of gas now costs more than the minimum monthly wage, electricity is only available for two hours per day, and unaffordable school fees are driving up student dropout rates.

The World Bank now classifies four out of every five Lebanese as poor.

  • Lebanon
  • Lebanese pound
  • Economic crisis in Lebanon
  • Dollar
  • US
  • US meddling

Most Read

YAF say struck 'Israel's' Ben-Gurion Airport with missiles, drones

YAF say struck 'Israel's' Ben Gurion Airport with missiles, drones

  • MENA
  • 18 May 2025
Israeli media: Yemen may push 'Israel' towards ceasefire in Gaza

Israeli media: Yemen may push 'Israel' towards ceasefire in Gaza

  • MENA
  • 17 May 2025
Rachel Accurso criticized for speaking out on Gaza children crisis

Ms. Rachel accused of antisemitism for speaking out for Gaza children

  • Politics
  • 20 May 2025
Martyrs, injuries in violent Israeli bombardment of southern Gaza

Israeli operation fails; IOF launch violent strikes on Gaza

  • Politics
  • 19 May 2025

Coverage

All
War on Gaza

Read Next

All
Yemenis chant slogans during a weekly anti-US and anti-Israeli rally in Sanaa, Yemen, Friday, May 16, 2025 (AP)
Politics

Operations against 'Israel' yielding tangible results: Ansar Allah

People walk between buildings, Dec. 17, 2024, on the campus of Harvard University in Cambridge, Massachusetts (AP)
Politics

Trump blocks Harvard from enrolling foreign students

Iranian Foreign Minister Abbas Araghchi, steps out from his plane as he arrives at Muscat, Oman, Friday, April 25, 2025, a day prior to negotiations with US Mideast envoy Steve Witkoff (AP)
Politics

Iran no longer benefits from reviving the 2015 nuclear deal: Araghchi

A Microsoft sign is decorated in celebration of the company's 50th anniversary at Microsoft headquarters, Friday, April 4, 2025, in Redmond, Wash (AP)
Technology

Microsoft prohibits 'Palestine' in internal messages

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS