The exchange rate of the dollar in the black market continues to soar, ranging today between 30,750 L.L. and 30,500 L.L., eluding any oversight or official measures to curb it. This is despite the Central Bank of Lebanon announcing the continued operation of the Sayrafa platform and extending Circular No. 161, both of which are essential in preventing speculation and regulating the parallel market. However, the dollar unexpectedly increased after the parliamentary elections, confirming expectations that it would rise to record levels following the completion of the parliamentary election process. Financial and banking sources are questioning, through "Al-Markaziah," the reasons that led to multiple crises emerging simultaneously, such as the disappearance of flour from bakeries and the refusal of fuel import companies to deliver, which has led to a return of long lines at fuel stations, alongside rising prices of goods and foodstuffs in tandem with the dollar's increase. They also do not rule out the presence of dark rooms managing these crises, as described by the head of the General Labor Union. They expressed surprise at the return to normalcy following the increase in the price of a gasoline tank by 17,000 Lebanese Liras.
The same sources attribute the rise in the dollar to several factors, the most prominent of which are the political factor, which continues to control the exchange rate while waiting for the outcome of the first session of the new parliament. Secondly, the return of speculation amid a decline in trading activity on the Sayrafa platform from 90 million to 40 million dollars, along with discussions about the possibility of its cancellation before Central Bank Governor Riad Salameh denied this and renewed work on Circular 161. Thirdly, the increase in global inflation has led to rising prices of goods and a high demand for dollars. Fourthly, the possibility of some banks attempting to buy dollars in the parallel market. Fifthly, intensified speculation among traders and money changers. All these factors contributed to the dollar's rise, supported by numerous rumors that have proliferated recently. The sources conclude by requesting that the Central Bank of Lebanon restore stability to the cash market and potentially bring the dollar back below 30,000 L.L., as well as enhance oversight and prevent speculation. Al-Markaziah.
