Top Lebanon retailers on strike as currency plummets

A string of top retail shops in Lebanon announced temporary closures on Thursday after the country’s currency lost five sixths of its value, triggering sharp price hikes.In a series of posts on social media, the popular stores said they would temporarily halt sales as the Lebanese pound reached more than 9,000 to the dollar on the black market.Although the currency is officially pegged at 1,507 pounds to the greenback, a shortage of hard currency has seen its street value plummet to record lows since October.That has left retailers struggling to price their wares.”We’d rather shut down than si…

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