As economy worsens, Lebanese juggle dizzying rates for devalued pound

By Emilie Madi and Mohamed Azakir BEIRUT (Reuters) – When Caroline Sadaka buys groceries in the Lebanese capital Beirut, she keeps her phone in hand – not to check her shopping list but to calculate the spiralling costs of goods now priced at volatile exchange rates that vary by store and sector. As Lebanon’s economy continues to collapse, an array of exchange rates for the local pound has emerged, complicating personal accounting and dimming hopes of fulfilling a reform requirement set out by the International Monetary Fund. The government’s official exchange rate was set at 15,000 pounds to …

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