BEIRUT (Reuters) – The Lebanese government on Tuesday raised the price of a 900-gramme loaf of partially subsidised bread to 2,000 pounds from its pre-October-crisis price of 1,500 pounds.
The pound, which is officially pegged at 1,500 to the dollar, is now trading at nearly 9,000 to the dollar on the black market after sharp falls in recent days.
Since last October, Lebanon has been in a financial crisis that has seen businesses close and prices and unemployment soar.
(Reporting by Laila Bassam, Writing by Suleiman al Khalidi; Editing by Kevin Liffey)
