Currency

The banks in Lebanon on summer tourism windfall, says the minister

11 days ago   |   By Travel and Tourworld

Back in 2020, Lebanon defaulted on its debt, the local currency on the black market lost almost 90 percent of its value, and at present, the UN is believing that four in five Lebanese to be underprivileged.
As continuously rising inflation is devastating the households with incomes in Lebanese pounds, for majority of tourists, informal exchange rate makes the price tag quite attractive.
Walid Nassar, the Minister told AFP in a recent interview said that this summer of 2022 is appearing quite hopeful. We hope that during this summer, over a million tourists and income of $3-3.5 billion to...
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