|
Trending Topics
|
Lebanon's Currency Takes a New Dive, with No End in Sight
(Washington Post) Liz Sly - Lebanon's currency hit new lows Friday as the country's financial and economic collapse accelerated. The Lebanese pound traded on the black market at 7,000 to the dollar, a slide of 40% in the past week. The currency has now lost 78% of its value since October. Businesses are closing by the day, unemployment is rising and prices are soaring. The cost of food has nearly doubled so far this year.