The exchange rate of the dollar in the black market in Lebanon reached 55,000 Lebanese pounds yesterday, marking an unprecedented rise since the beginning of the crisis. This situation is impacting the daily lives of Lebanese citizens, leading to increasing warnings about its effects on various sectors and the prices of goods, which are determined based on the dollar rate, without any oversight or accountability. Some grassroots movements and roadblocks were recorded in several areas, especially in Beirut, the north, and the south, protesting against living conditions and the collapse of the Lebanese pound.
Meanwhile, Hani Bahsali, head of the Syndicate of Food Importers, warned of a potential shake to food security, while Bassam al-Telees, head of the unions and syndicates of the land transport sector, called for a meeting to determine the date for an uprising of "land transport" as the price of gasoline approaches one million Lebanese pounds. In a statement, Bahsali expressed his deep regret over the successive increases in the dollar exchange rate against the Lebanese pound, which will lead to further economic and living consequences, describing the dollar reaching 55,000 pounds as a "disaster" that will have negative repercussions on citizens' livelihoods and on institutions and markets.
He warned that "the food security of the Lebanese is on the verge of shaking, as a large segment of them cannot obtain all their needs for goods and food products due to rising prices caused by the increase in the dollar rate." He stated, "If the recent study conducted by the United Nations indicated that one and a half million Lebanese people are at risk of losing food, then this number is likely to increase steadily with the rapid collapse of the national currency," urging officials to act quickly in two directions: elect a president, form a government, and approve a financial card for the needy.
For his part, Fadi Abu Shakra, representative of fuel distributors, warned that the daily rise in the dollar price will reflect on fuel prices, indicating that the price of gasoline will reach one million pounds, and no action has been taken by officials yet. Meanwhile, al-Telees called for a meeting next Monday to set a date for what he termed the "uprising of land transport," pointing out that the "insane rise in the dollar price is affecting the prices of fuel, spare parts, living costs, and its impact on public drivers amid officials' indifference."
According to the new table released yesterday, oil derivatives prices saw an unprecedented rise, with the price of gasoline reaching between 958,000 and 982,000 pounds, while the price of diesel exceeded one million Lebanese pounds. This increase has also affected bread prices, with a new increase registering for a loaf of bread. The Ministry of Economy issued a new table yesterday, setting the price of a small size loaf at 13,000 pounds, medium at 22,000 pounds, and large at 26,000 pounds, after many years of being priced at one dollar, based on an exchange rate of 1,500 pounds, before being affected by the economic crisis and the collapse of the Lebanese pound, leading to several price hikes.
