} Ahmed joy*
There is no real economic factor behind the movement of the exchange rate of the US dollar against the Lebanese pound on the black market, not in its expected rise after the end of the parliamentary elections on May 15, when it crossed the threshold of 37,000 pounds per dollar last Friday morning, nor in its sudden decline Al Kabeer on the same Friday afternoon, and its decline to about 29 thousand pounds, and then to 27 thousand last Saturday.
Everyone mentions that at the beginning of this year, the exchange rate crossed the threshold of 33 thousand pounds, and the data of the currency exchange indicated that there is no ceiling for the dollar exchange rate and will continue its way up, because the political authority concerned with the matter (that is, the government) has not taken any practical action since its formation In order to protect the national currency and thus achieve a minimum level of monetary stability and prevent the catastrophic impact of the dramatic fluctuations in exchange rates on people with limited income, the vast majority of the Lebanese have become low-income, as there are 85 percent of the Lebanese who receive their salaries and incomes in the Lebanese pound, which lost More than 90 percent of its value.
However, an agreement occurred in the first month of this year between Prime Minister Najib Mikati and the Governor of the Banque du Liban, Riad Salameh, and the agreement stipulated that the Central Bank would continue to interfere in the currency market until the date of the parliamentary elections on May 15, and this led to the dollar’s decline within a few days by more than 13,000 The Lebanese pound reached about 20 thousand pounds, before rising to about 24 thousand, as it stabilized for a period after which it rose to about 27 thousand and also stabilized for a period, which made the prices of goods somewhat stabilize at certain limits, although they remained very high compared to the low incomes of the Lebanese. .
As soon as we reached the elections, and before the vote counting ended on Sunday evening, the exchange rate of the dollar returned to the rise and even jumped upwards, where it recorded an increase of ten thousand pounds in just four days, as the exchange rate on Friday morning reached more than 37 thousand pounds, This was followed by a crazy rise in the prices of all commodities, especially since merchants began pricing goods on the basis of the dollar at forty thousand pounds.
Without introductions or explanations, the “governor” sent a statement to all holders of the Lebanese pound, whether citizens and institutions, who want to convert it into US dollars, to submit these requests to Lebanese banks starting today, Monday, at the exchange rate platform, provided that these requests are fully met within within 24 hours”.
Salameh attached this statement to a second circular addressed to banks obligating them, starting today, Monday, for three consecutive days, to keep their branches and funds open daily until six in the evening to meet citizens’ requests to buy dollars at the exchange rate for those who delivered Lebanese pounds, as well as to pay employees’ pensions In the public sector in dollars also on the price of the platform.
As soon as these instructions were issued, the dollar rolled down in a dramatic way, and the exchange rate fell on Friday by seven thousand pounds, and on Saturday the decline reached ten thousand…
It is certain that the decrease in the exchange rate of the dollar is in the interest of the vast majority of the Lebanese, provided that this is followed by a tangible decrease in the prices of basic commodities (bread, medicine, fuel and the food basket that is universally recognized as indispensable for any family), and also that sustainable relative stability occurs, both in prices exchange or commodity prices.
But… How can this happen as long as all the measures taken by the “governor” are nothing but “acrobatics”, and much like it happened in the past, as we remember how the exchange rate fell from 8,000 to 6,000 after Prime Minister Saad Hariri was tasked with forming a government In October of the year 2020, then during the commissioning period that lasted about 9 months, the dollar gradually rose, bringing the day of his apology for the formation’s uncle in July 2021 to about 20 thousand pounds.
When President Mikati was appointed, the exchange rate fell to about 13,000 pounds, to rise again during the assignment period, then fell with the announcement of the formation of the government in September 2021, but it did not hold much and returned to its upward path, especially since the government did not take any serious decision on the economic level. and financial in order to alleviate the impact of the crisis that is tightening the noose more and more on the necks of the Lebanese…
The point of recalling all these “dollar” stations is to draw attention once again to the seriousness of what the “ruler” is doing, who proves every time that he is an irresponsible person who must be held accountable for his crimes against Lebanon and the Lebanese thirty years ago until today, especially since he is being prosecuted in countries Many Europeans, and he is also prosecuted in Lebanon, where he evads appearing before the judiciary, yet his summons is postponed until next March in a strange and strange paradox, while his brother Raja, who was proven in the investigation to be a perpetrator and guilty and embezzled millions of dollars of public funds in partnership with his brother, is released. “the ruler”!
How can the Lebanese win the war against the dollar? The answer, quite simply, is: When our lofty authorities take the bold decision to dispense with the dollar in our imports from abroad, and we have very generous offers to import what we need in terms of wheat, medicine and fuel in Lebanese pounds without having to take out any dollars from the country, and therefore when the demand for dollars decreases, Of course, its price will drop more than some people who are impressed with the green currency can imagine, and they are afraid to engage in this confrontation for various reasons, most of which are due to the personal and private interests of those who are afraid…!