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  • Turkish soldiers fire a missile at Syrian government position in the province of Idlib on Feb. 14, 2020. (AP)

Turkish soldiers fire a missile at Syrian government position in the province of Idlib on Feb. 14, 2020. (AP)
Exchange rate at Beirut airport hits 2,100 to $1. (Twitter)

The Beirut airport duty-free exchange rate went up for a third time, reaching 2,100 Lebanese lire to $1.


The official pegged rate is 1,500 lira to $1, though that peg has slipped since October. Now it is around 2,450 lira to $1 in the unofficial market. Lebanon’s central bank and money exchangers had previously agreed to a 2,000 to $1 rate as the economic situation in the country continues to deteriorate.


https://twitter.com/timourazhari/status/1230133141182046209


At the end of January, the airport raised its rate to 1,950 lire to $1. The first hike in the rate came in December, as the exchange rate hit 1,750 lire to $1.


https://twitter.com/timourazhari/status/1230133141182046209


Lebanon’s economy has been suffering for months as a shortage in dollars, needed to pay for much-needed imports, has spurred a larger economic crisis.


Today in Beirut, policymakers, and IMF officials are in meetings to discuss whether Lebanon will pay or default on an upcoming $1.2 billion Eurobond payment.


source: Lauren Holtmeier