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Lebanon's currency catastrophe: The 140,000 LBP to USD plunge

Lebanon Economy

2023-03-21 | 05:10

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Lebanon's currency catastrophe: The 140,000 LBP to USD plunge

The unofficial exchange rate in Lebanon has soared, with 1 USD now equivalent to 140,000 LBP.

The largest banknote in circulation, the 100,000 LBP bill, is now worth just 71 cents.

The values of other banknotes have also been severely affected: 1,000 LBP is worth approximately 1 cent, 5,000 LBP is worth approximately 4 cents, 10,000 LBP is worth approximately 7 cents, 20,000 LBP is worth approximately 14 cents, and 50,000 LBP is worth approximately 36 cents.

This ongoing depreciation of the Lebanese pound has severe implications for the country's economy and the daily life of the average Lebanese citizen.

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