Lebanon's Central Bank Burns as Protesters Rail Against Fiscal Failures
Cointelegraph
Published Jun 12, 2020 02:00PM ET
Updated Jun 13, 2020 04:00PM ET
Protesters in Lebanon have set fire to the central bank in Tripoli in a show of anger with the country’s deepening economic crises and stagnant political orthodoxy.
Joyce Karam of United Arab Emirates-based media outlet TheNational reported June 11 that the Lebanese pound (LBP) is trading for more than 5,000 per $1 in spite of the country’s official peg of 1,507 per dollar— a 20% depreciation since April, and over 230% since the peg was respected in January.
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Written By: Cointelegraph
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