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The black market value of the Lebanese pound currently reaches an unprecedented low of 35,600 against the US dollar, plummeting from 26,800 in just two weeks. This sharp depreciation signifies the ongoing economic crisis in Lebanon, exacerbating the country's challenges. As a result, petrol prices have surged by nearly 25% within three weeks. Additionally, the government is anticipated to reduce medicine subsidies and raise their prices. Authorities are implementing temporary measures to address wheat shortages.
Wednesday, 25 May, 2022