Freefalling Lebanon currency hits new low

Lebanon’s currency hit a new low against the dollar on the black market Tuesday, continuing its freefall in a country gripped by political deadlock and an economic crisis. The latest plunge means the Lebanese pound has lost almost 90 percent of its value on the informal market in just 18 months. The Lebanese pound has been pegged to the dollar at 1,500 since 1997, but the country’s worst economic crisis since the 1975-1990 civil war has seen its unofficial value plummet. The slide has picked up speed over the past two weeks, with the exchange rate soaring from 10,000 Lebanese pounds to the dol…

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HEDGE accordingly