They’re rioting in Lebanon, because their foreign currency is illegal in Lebanon’s hyperinflation
Posted by John T. Reed on
Interesting situation in Lebanon: they are currently going through a economic crisis that involves hyperinflation. Though they have pegged their currency to the dollar and many citizens held their bank accounts in dollars, the banks forced them to withdraw their deposits in Lebanese Pounds at of course, non-market exchange rates.
FT.COM
Demonstrators defy coronavirus lockdown and set fire to banks amid mounting currency crisis and joblessness
Demonstrators defy coronavirus lockdown and set fire to banks amid mounting currency crisis and joblessness
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