The Lebanese pound marginally went up on the black market Wednesday, trading at LL12,700 against the dollar.
Exchange dealers were buying the dollar for LL12,650 and selling it for LL12,750. The greenback traded for LL12,750 Tuesday.
The pound has lost nearly 90 percent of its value since the slow onset of the economic crisis in October 2019, and hit its record low of LL15,100 to the dollar two weeks ago.
Over 60 percent of the population in Lebanon now lives below the poverty line, as inflation is rampant, subsidized products are diminishing, unemployment is on the rise and the coronavirus pandemic remains widespread.
