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Lebanon bans Palestinians from buying subsidised dollar

us-dollars-usd
US dollars [File photo]

Syndicate of Money Changers in Lebanon has banned none-Lebanese citizens from buying subsidised dollars, Al Watan Voice reported yesterday.

In a statement in response to the decision, the Palestinian Islamic Jihad said: "The order of the Syndicate of Money Changers in Lebanon keeps up with the wave of oppressive decisions targeting Palestinian refugees."

It affects university fees and residences of the Palestinian refugees abroad, the movement explained, in addition to the affordability of rent fees and even food prices.

"Everyone knows that the Palestinian refugees contribute to funnelling foreign cash to the Lebanese market through the regular transactions and the international and local aid NGOs," the statement said.

READ: Lebanese face food crisis due to economic collapse

It called on the Lebanese government to act quickly to stop the "oppression" and the "discriminatory" policy against Palestinian refugees.

Lebanon's banks have banned all foreign transfers abroad since November 2019, in an attempt to prevent rapid capital flight as the country faces its worst economic and financial crises in 30 years.

The local currency, the Lebanese lira, has lost more than 80 per cent of its value since October and is now trading at approximately 9,000 lira to $1. While, power outages have become increasingly frequent amid soaring food prices and unemployment.

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LebanonMiddle EastNewsPalestine
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