2023-05-19 09:49:01
The Lebanese Ahmed Ragdo, a shop owner, inherited from his father a small project in Beirut with a passion for collecting banknotes and coins from around the world, especially the local ones.
Among the souvenirs he puts up for sale are old Lebanese coins and a series of old banknotes that he carefully puts in special envelopes to attract tourists and collectors alike to buy them from him.
Ragdo, who is particularly enthusiastic about the Lebanese pound, has recently begun collecting the latest local coins and banknotes that are still in circulation, albeit devalued. He does not currently offer these coins and notes for sale, but he is adding them to update his extensive collection of old coins.
Lebanon is experiencing an unprecedented financial crisis, which the World Bank has described as one of the deepest recessions in modern history.
The local currency has lost more than 98 percent of its value against the US dollar since 2019, when decades of wasteful spending, corruption and mismanagement caused an unprecedented economic collapse.
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