The Lebanese war · 111101 entry in the original chronology
Nothing could stop the dollar from rising. For the first time, the green bill was exchanged for over 15 Pounds on the Beirut stock market while the French Franc was quoted at 1.55 Pounds. The Lebanese authorities requested help from Saudi Arabia and asked Rafic Hariri to intercede with King Fahd to grant Lebanon 500 million dollars to boost the economy.
What the books addAnnual figures: the pound fell to about 16 to the dollar in 1985 against 6.5 in 1984, with retail inflation of about 70 per cent (Hanf, citing Abou Rjaily and Labaki); de Clerck and Malsagne put the 1985 devaluation at 150 per cent. Hanf notes that rumours of large PLO deposits briefly strengthened the pound in early 1985.