Posted By
Najib
Mar 21, 2021 12:21
A video was circulating last week where a grocery shop owner was filmed asking a customer to pay LL500 for an extra plastic bag. I heard a similar story from a friend of mine at a local supermarket. This has become common practice in a lot of countries worldwide mainly to reduce the use of plastic, but it's a different story in Lebanon. Those plastic bags are not produced locally, and given that raw material…
Posted By
Najib
Mar 19, 2021 03:07
Lebanon's central bank is set to launch an electronic foreign currency trading platform to try and stabilize the exchange rate of the US dollar to the Lebanese pound. The platform will help monitor transactions and will allow banks to buy and sell fresh dollars at 3850-3900, but I don't see how banks will sell at this rate given that the market rate is 3 times as much. Exchange shops must also buy and sell foreign…
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