The Lebanese pound records a new record high. This Tuesday it reaches the record threshold of 10,000 LL to the dollar. The Lebanese pound, which has been in free fall on the black market since the summer of 2019, in a context of multiple crisis in the country was trading Tuesday at 10,000 pounds to the dollar.

The previous record rate recorded was 9,800 pounds for a greenback on July 2, 2020. The pound had traded for nearly a month, from mid-January to mid-February, at a stable rate just below L.L.9,000 to the dollar, before experiencing a further decline after February 18.

Recall that the Lebanese currency had been stabilized for more than 20 years at 1507.5 pounds to the dollar by the Bank of Lebanon (BDL).