Tuesday, March 16, 2021, marked the day when the Lebanese lira to US Dollar reached a staggering rate of 1$ = 15,000 LBP.
At 6:00 PM, Beirut time, the USD to LBP rate: 1$ = 14,000 LBP.
This is a depreciation of the Lira by approximately 4,000 LBP to the Dollar since last Friday.
The Currency Exchangers Mafia:
Of course, the exchanger’s mafia is still running the show with no accountability whatsoever. Because these guys are run and governed by the Central Bank, the lack of accountability and control fuels doubts surrounding the Central Bank’s silence towards these corrupt crooks.
The daily humiliation and suffering of the Lebanese people are still ongoing harsher than ever before.
With no action from the incompetent, corrupt political elite whatsoever.
Lebanese Lira To US Dollar Devaluation Effects:
The inflation rate at which prices of basic goods are increasing is mind-blowing. Going to the supermarkets is becoming the worst thing to do.
One can not but notice empty shelves, the lack of choices. The insanely increasing prices of basic goods affected even the wealthy class.
On the other hand, the lousy, corrupt politicians are still unable to form a cabinet and are still fueling sectarianism and hatred.
A simple task such as forming a cabinet looks like it will take more time as all parties are still attacking each other fiercely.
In the meantime, the currency devaluation is harsher than ever before, and the people are in a sort of a state of trance!
Why are the Lebanese people silent? How can we reach such a low level and standard of living and still be silent?
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