People running for cover after the explosion in Beirut's port area in Lebanon on August 4 2020. Picture: REUTERS/MOHAMED AZAKIR
If she tried today, she says she would get even less, with some dealers insisting on a discount of as much as 65%. The August 4 explosion in Beirut that destroyed Lebanon’s main port and plunged the nation deeper into economic crisis has added urgency to citizens’ attempts to protect their savings against the backdrop of a collapsing currency and spiraling inflation.
The disaster also damaged the assets of Solidere, a real-estate company shares of which have long been a haven investment because they’re denominated in dollars. When the Beirut bourse reopened on Monday, Solidere’s stock slumped initially, before recovering to close slightly higher.