Lebanon … incredible prices for foodstuffs

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Lebanon ... incredible prices for foodstuffs

Reuters

Shop in Lebanon, archive

Lebanese media reports said that some goods have started to run out of stores at a time when the prices of food and other items are witnessing an imaginary increase, which disturbs the Lebanese, especially with the approaching month of Ramadan.

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“Nidaa Al Watan” newspaper pointed to the loss of food subsidized by the market, pointing to imaginary differences in prices between one store and another, and the decline in the number of store-goers in total to more than 80 percent.

The newspaper stated that some stores in Nabatiyeh, south of Lebanon, fell victim to a fraud, by signing papers to receive subsidized goods that they had not received in the first place.

The dollar’s ​​exchange rate declined slightly against the Lebanese pound during today’s trading, Tuesday, March 30th, in the informal parallel market.

The price of the dollar on the black market ranged between 12,750 and 12,750 pounds per dollar, after it had reached 15,000 pounds in recent weeks.

The exchange rate of the dollar in the Central Bank of Lebanon remained at 1507.5 pounds per one dollar, and it is allocated to basic commodities only, while Lebanese banks set the price of 3850 pounds to the dollar, when the dollar was withdrawn to small depositors a while ago, and it is still in force today.

Source: Nidaa Al Watan + Lebanese media



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