Lebanese money changers cut dollar exchange rates by 30 pounds

Lebanese money changers on Thursday cut the declared exchange rates for dollars by 30 Lebanese pounds from Wednesday's prices, saying they would buy dollars for a minimum price of 3,920 pounds and sell them at a maximum of 3,970 pounds. The pound has fallen by around 60% from the official exchange rate of 1,507.5 pounds since October during an acute financial crisis as U.S. dollars have become ever more scarce.

The money changers lifted a one-month strike on Wednesday, declaring a buy rate at a maximum of 3,950 Lebanese pounds and a sell rate at a maximum of 4,000 pounds.