ECONOMY

Lebanon is not the first .. 4 Arab countries suffer from the collapse of the currency

Khartoum | Times Of Sudan

The residents of 5 Arab countries, Syria, Lebanon, Iraq, Yemen and Sudan are under the influence of a gradual deterioration of the local currency against the dollar, which contributes to high commodity prices and threatens to starve and crush the poor classes.

On Tuesday, the Lebanese currency plunged to 10,000 pounds against one dollar, at an unprecedented level for the currency that was damaged by a financial collapse that caused chaos and turmoil.

The Syrian pound also recorded a new record deterioration in its value in the parallel market, reaching the threshold of four thousand against one dollar in a country where the conflict this month enters its tenth year.

For their part, Iraq and Sudan are trying to control the exchange rate of the dollar, without changing that from the poor living reality that was affected of course, as the dollar in Sudan recorded 376 pounds, while in Iraq it recorded 1462.5 dinars.

The floatation of the Sudanese pound during the last two weeks caused a frightening deterioration in the exchange rate for the dollar during the past six months from 150 pounds in August, until it reached 376 pounds on Wednesday, which led to a crazy rise in the prices of consumer goods, and this reflected on the lives of citizens and led many Demonstrations caused by high inflation.

Related Articles

Leave a Reply

Your email address will not be published.

Back to top button