The Lebanese pound rose slightly against the dollar on the black market for the second straight day Wednesday, after reports that Prime Minister-designate Saad Hariri was in Paris for talks with French officials on Lebanon’s government impasse
Exchange dealers were selling the greenback for LL8,850 and buying it for LL8,750, compared to LL8,900-8,800 Tuesday.
Dealers said they saw an increase of people wanting to sell cash dollars of a second day in a row after reports emerged that Hariri was in Paris for talks with French President Emmanuel Macron on the Lebanese political crisis, reigniting hope that forming a new Cabinet was possible.
Macron last month announced he planned to make a third visit to Lebanon, saying that France’s road map for resolving the deepening Lebanese crisis was still on the table. The road map is based on the formation of a “mission” government of technocrats entrusted with implementing reforms to halt the country’s economic and financial meltdown.