Lebanon’s black market for currency

Lebanon’s currency is in a free-fall. But nobody seems to agree on how much the Lebanese pound is actually worth. An official rate was pegged at 1,500 LBP to the dollar in 1997. Now, some exchange offices are offering rates closer to 28,000 LPB per $1. What does this mean for the country’s financial meltdown and the people living through it? Durrie Bouscaren explains.