Exchange Rate in Lebanon
Lebanon - Exchange RateEconomic conditions remain grim. While PMI readings have risen since the early part of the year, aided by recovering activity abroad, an uptick in tourism and reduced Covid-19 restrictions, they still point to deteriorating private-sector activity. The economy continues to be held hostage to ongoing protests, sky-high inflation, institutional paralysis and acute shortages of fuel and other basic goods. Making matters worse, in August the government raised fuel prices by 66% as it partially reduced subsidies, which will further fan inflation ahead. Moreover, PM-designate Najib Mikati has yet to form a government, meaning the country has remained without a fully functioning administration for over a year. More positively, Lebanon should soon receive USD 860 million in IMF reserves, although more comprehensive international support remains conditional on the formation of a new government.
Lebanon - Exchange Rate Data
|Exchange Rate (vs USD)||1,508||1,508||1,510||1,512||1,509|
5 years of economic forecasts for more than 30 economic indicators.
Lebanon Exchange Rate Chart
Source: Thomson Reuters.
|Exchange Rate||1,513||0.0 %||Dec 31|
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June 22, 2020
Economic conditions have deteriorated significantly in recent months amid spiraling inflation, the Covid-19 pandemic and sociopolitical instability, after the country defaulted on its debt for the first time ever in March.