Lebanon: Ali, stockbroker in Beirut and symbol of the economic crisis
Audio 01:25
The local currency, the pound, continues to collapse against the greenback (photo illustration).
© Getty Images / aristotoo
Text by: RFI Follow
4 min
In Lebanon, it is one of the symptoms of the economic crisis that the country is going through.
The local currency, the pound, continues to collapse against the greenback.
On the black market, it now takes 15,350 pounds to buy a dollar.
In an economy still very "dollarized", the race for greenbacks gives ideas to some who since the crisis, have improvised money changers.
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With our special
correspondent in Beirut
,
Aabla Jounaïdi
In his previous life, Ali was making $ 3,000 a month. A sweet memory, because since the banking restrictions imposed in 2019, the Lebanese can only withdraw books and in limited quantities. So he decided to make a business out of it. “
Like many people, I bought dollars. For £ 5 million, I got $ 2,000. Then a company bought them 6 million pounds from me. In an instant, I won a million. Everything happens on Whatsapp. You just need to know how to read and write and you become your clientele
. "
Ali will not disclose his income from this business.
What is certain is that this further accelerates the fall of the Lebanese pound.
But not enough to move the young man, yet illegally.
“
The other time the dollar exploded in value.
We have heard that it is because the banks themselves had withdrawn the dollars from the market.
In other words, everyone participates.
I am not at all ashamed.
It is true that it affects our national currency.
But it is the politicians and their corruption that give us no choice.
This is my money, I used to get it.
It's the thieves and the rotten people who push us into this
.
"
No time to waste.
The man in a hurry gets back on his scooter for the next race.
►
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