Lebanon’s currency hits new low as banks shut again

A man counts Lebanese pounds at an exchange shop in Beirut (Hussein Malla/AP)

Lebanon’s currency has hit a new low, trading at an unprecedented 100,000 Lebanese pounds to the dollar (82p) on the black market as the crisis-hit country’s banks went back on strike.

The pound has kept sinking since Lebanon’s financial meltdown erupted in 2019 following decades of rampant corruption and mismanagement by the country’s political and financial elite.