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FinancialNews
27-07-21
Lebanon home to world’s cheapest Big Mac after pound slumped in value
(MENAFN) The Economist Intelligence Unit stated that Lebanon is home to the world’s cheapest Big Mac when the pound dropped in rate, to stand at over 70 percent undervalued against the US dollar.
A Big Mac is not contemptible for those being paid in local currency, at 29,904 Lebanese pounds, but with an exchange volume of 17,800 to the dollar, it costs just USD1.68 for tourists and those lucky enough to get paid in dollars.
According to Lebanese economic analyst Bassel Al-Khatib, the fall in the Lebanese pound is worsening and speeding up inflation on a basic basket of goods, like rice, sugar and flour, on a daily basis.
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