BEIRUT: The Lebanese pound hit a new record low Thursday, trading at LL18,150 to the dollar on the black market, compounding the misery of Lebanese living through the worst economic crisis in the country's history.

Exchange dealers said they were selling the dollar for LL18,200 and buying it for LL18,100, compared to LL17,700-LL17,600 Wednesday. The pound's previous record low was last month's 17,950.

The national currency has lost over 90 percent in street value since late 2019, pushing more than half the population below the poverty line. In recent weeks the crisis has worsened dramatically as citizens grapple with fuel, electricity, food and medicine shortages with the cash-strapped government lifting subsidies on essential goods.

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