Lebanese pound sinks to new low

BEIRUT, Jan. 24 (Xinhua) -- The Lebanese pound on Tuesday sank to a new record low to the U.S. dollar on the parallel market as a steep financial crisis continues to bite, Elnashra news website reported.

The exchange rate of the Lebanese pound declined to 53,700 against the dollar, down from the previous record low of 50,000 on Jan. 19.

Mahassen Moursel, a Beirut-based finance expert, said the Lebanese po