Lebanon's currency hits record low against US dollar.
The Lebanese pound has hit a historic low against the US dollar on the country's parallel market, trading at 100,000 against the greenback, a dizzying plunge from 1,507 before the economic crisis hit in 2019. Lebanese banks, which have long imposed draconian withdrawal restrictions, were closed on Tuesday as they resumed an open-ended strike. Political inaction and a lack of accountability have been a hallmark of the Lebanese economic crisis, with officials failing to enact any of the reforms demanded by international creditors in return for unlocking billions of dollars in emergency loans.