Source: Express
The Lebanese Army has confiscated approximately 800 rockets handed over from the Beddawi Palestinian refugee camp in northern Lebanon, Al Hadath TV reported on Friday.
Friday, May 2, 2025
Lebanon plans to formally ask Hamas to hand over members believed to be behind recent rocket attacks launched from areas north of the Litani River into Israel, a senior Lebanese official told Asharq Al-Awsat. The request will top the agenda at the Higher Defense Council’s meeting on Friday, chaired by President Joseph Aoun.
Friday, May 2, 2025
A parliamentary committee in Lebanon last week issued a draft law for restructuring the country’s financial sector. The Lebanese people surely breathed a sigh of relief, but does this mean they will finally regain access to their bank deposits, which they have been unable to withdraw for several years? That remains uncertain.
Monday, April 28, 2025
Last week, Lebanese President Joseph Aoun announced that Beirut would not forcibly disarm the Iran-backed Shiite militia Hezbollah as part of its effort to gain a state monopoly on weapons. Instead, Aoun said Hezbollah would be convinced to give up its arms on its own, through dialogue and negotiations. Moreover, the president suggested the militia’s troops could then be integrated into the Lebanese Armed Forces (LAF). This approach, which avoids a potentially bloody face-off, will be unacceptable to both the US and Israel, and will ultimately undermine the hopeful progress Lebanon has made toward reasserting its sovereignty.
Thursday, April 24, 2025
Real Madrid and Atletico Madrid meet in their second derby of the season with the Liga lead on the line and the focus on refereeing. Real Madrid has spent the days ahead of Saturday’s match complaining of mistakes against the club.
Thursday, February 6, 2025
The first Chinese driver in Formula 1, Zhou Guanyu, is heading back to Ferrari as one of its reserve drivers for the 2025 season.
Wednesday, February 5, 2025
Monday 9 September 2024 16:30:31
One country's currency has crashed so much that just one US dollar can now purchase 89,578 of its pounds. Experts say the Lebanese Pound is the weakest currency in the world "by some margin" as it tops a hall of shame of the world's worst performing.
Andrew Michael, an expert at Forbes Advisor, said in a report on the worst performers: "The Lebanese pound is currently, by some margin, the weakest currency in the world when measured against the US dollar.
"One Lebanese pound buys $0.000011. Put another way, this means that $1 is worth 89,578 Lebanese pounds." Lebanon's economy is service-based, but the country also exports food and drinks, metals, some chemicals and precious stones.
But, bordering the Mediterranean Sea, as well as Israel and Syria, its economy has been affected harshly by the wars in Syria and more recently Gaza.
Next worst performing currency is the Iranian rial, currently worth $0.000024. Just $1 would buy 42,087 Iranian rials.
The currency emerged in the late 1700s and has been relatively static against the US Dollar for several years. Iran is a key exporter of oil and natural gas, but economic sanctions, largely from the US, have put huge pressure on its economy.
The report was compiled for those considering in investing in weaker economies, which can potentially make significant amounts if there is a rise in its value.
But, it is a risky tactic as they could remain low or even plummet further. The US dollar is the world’s most traded currency, but not the strongest, which is currently seen as the Kuwaiti dinar.
Third worst performing currency is the Vietnamese dong as each unit can only buy $0.000039. Just $1 could buy 25,442 Vietnamese dong.
It is a service led industry with electronics, energy and textiles key industries. It has been hit hard by rising interest rates in the US, restrictions on foreign exports and a slowdown in exports.
Another south-east Asian currency, the Laotian kip, is in at number four. Around since the 1950s, 1 kip is equivalent to $0.000046, so $1 is worth 21,705 kip.
Land-locked Laos relies on exports of copper, gold and timber but has slow economic growth, high inflation and rising debt.
Sierra Leone has had a currency called leone since 1964 and one unit of it gets $0.000048. So, $1 is the equivalent of 20,969 leone.
It's key exports are timber and minerals such as diamonds and gold plus industrial metals. High inflation and debt plus slow economic growth since the Ebola outbreak have kept it struggling.
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