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June 29, 2020       Share:    

Source: https://www.washingtonpost.com/world/middle_east/lebanon-currency-economy-crisis/2020/06/26/9e2c62ea-b712-11ea-9a1d-d3db1cbe07ce_story.html

Lebanon's Currency Takes a New Dive, with No End in Sight

(Washington Post) Liz Sly - Lebanon's currency hit new lows Friday as the country's financial and economic collapse accelerated. The Lebanese pound traded on the black market at 7,000 to the dollar, a slide of 40% in the past week. The currency has now lost 78% of its value since October. Businesses are closing by the day, unemployment is rising and prices are soaring. The cost of food has nearly doubled so far this year.

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