Economy

Gasoline to "Dollarization".. and the Dollar to Unprecedented Levels?

Gasoline to

It seems that a form of resolution has emerged regarding the bread crisis with the arrival of new shipments of subsidized wheat and the distribution of shares to several mills and bakeries. However, yesterday, the exchange rate once again exceeded the threshold of 30,000 Lebanese pounds, amid fears of its continued rise, especially after the recent decision by the Central Bank of Lebanon to secure dollars for the import of this commodity from 100% according to its "Sayrafa" platform to 85%, while the remaining percentage of 15% will be calculated based on the black market dollar rate. Financial sources told "Al-Diyar" that with foreign currency reserves running low, it is likely that the Central Bank will soon issue another decision raising the 15% rate to 30% in preparation for the full dollarization of gasoline, which will significantly impact the exchange rate due to increased demand for dollars in the black market, likely pushing it to unprecedented levels.

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