Report: Lebanese Pound Exchange Rate Against Dollar Plunges to All-Time Low
After relative calm for a few months, the Lebanese pound has plunged to an all-time low of 35,600 per dollar, a report has said. The currency’s latest slide is expected to worsen Lebanon’s economic challenges. Pound Depreciation In a sign that Lebanon’s ongoing economic crisis is worsening, the black market exchange rate of the Lebanese pound is reported to have plunged to an all-time low of 35,600 against the dollar. According to an Al Jazeera report, it took just two weeks for the pound’s black market exchange rate to drop from 26,800 to the latest....
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The Lebanese pound dropped to a new low on Sunday against the greenback trading in the low 1,500s range to the U.S. dollar. Lebanon’s currency has been in a downward spiral since 2019, as the pound has lost 90% of its value since then. Reports note that Lebanese citizens are facing shortfalls on basic goods like food and medicine, as attestations say “shortages have been worsening across the board.” Lebanese Pound Sinks to a New Low Against the Greenback, Country’s Monetary System Is Collapsing On Sunday, June 13, 2021, the Lebanese pound (LPB) dropped to 1,501....
After authorities in Egypt announced the adoption of a more flexible exchange rate regime, the pound exchange rate versus the U.S dollar plunged to 23.09:1, a new low for the currency. Cairo’s apparent devaluation of the Egyptian pound met a key condition set by the International Monetary Fund (IMF) before it eventually approved a $3 billion bailout package for Egypt. The IMF’s Key Condition A report has said that the official exchange rate of the Egyptian pound versus the U.S dollar plunged by 15% to 23.09 per dollar after the central bank announced the adoption of a more....
Living in the chaos of a deep crisis, people in Lebanon have been turning to cryptocurrency, a new media report has confirmed. From earning much needed income through mining and work, to storing wealth and paying in stores, bitcoin, tether and other cryptos have started to push aside the hyperinflated Lebanese pound and the hard-to-get-hold-of U.S. dollar.
Cryptocurrency Becomes Lifeline for Some Lebanese Who Try to Make Ends Meet in Meltdown
With its capital Beirut once called the “Paris of the Middle East,” before the civil war broke out in 1975, and known as an....
The world’s oldest fiat currency, the British pound sterling, slid to an all-time low against the U.S. dollar at a little after 1 a.m. (ET) Monday morning. At the time, the pound tapped 1.0327 nominal U.S. dollars per unit, but rebounded against the greenback to 1.0775 by 11 a.m. Monday morning.
Pound Sinks Against Greenback to $1.0327 but Manages to Rebound Back to $1.0826
On Monday, September 26, 2022, the British pound sterling reached an all-time low against the U.S. dollar. The pound’s losses follow the euro sliding to a 20-year low against the Greenback on....
The Japanese yen’s exchange rate versus the U.S. dollar recently plunged to its lowest rate in 32 years — 147.66 JPY per dollar. The yen’s latest fall comes less than a month after its slip in September prompted authorities to enter foreign exchange markets for the first time since 1998. Gap Between US Treasuries and Japanese Government Bonds Widening The Japanese yen fell to a rate of 147.66 per dollar, its lowest exchange rate versus the U.S. dollar in 32 years, a report has said. The yen’s latest record-breaking fall came after official figures from the United States showed....