Lebanese protests over impact of local currency's collapse

Beirut and several regions witnessed protests that took place in the evening to protest against the monetary and economic policies.

Youths in the capital, Beqaa and the north of the country cut off the roads and lit tires.

The parallel exchange markets, or what is known as the "black market" are witnessing an increase in the dollar exchange rate against the Lebanese pound, which has exceeded the level of 6,000 Lebanese pounds against one dollar, compared to 1,500 Lebanese pounds as an official price determined by the central bank to finance the imports of wheat, fuel and medicine.

Economic sources stated that several companies and institutions stopped delivering goods for fear of the Lebanese pound registering an additional collapse, which reflects a loss in the capital of the companies.

It is feared that the country will slide into security chaos translating the living crises that will put more than half of the Lebanese people below the poverty line.

International reports and researches had estimated that about a million Lebanese would be without jobs and salaries in the second half of this year.

D.H