After a very active Sunday yesterday, the Lebanese Lira rate for today, Monday, October 26, 2020, as per 8 different black market applications and websites is as follows:
|App / Website||Buy 1 USD||Sell 1 USD|
|USD Market||6650 LBP||6750 LBP|
|Lirarate.com||6775 LBP||6700 LBP|
|Lebaneselira.org*||6800 LBP||7000 LBP|
|Adde Dollar Lebanon||6700 LBP||6800 LBP|
|LBP to Dollar App||6775 LBP||6700 LBP|
|Lebanese Market LBP USD||6730 LBP||6630 LBP|
|Sarraf Lebanon||6750 LBP||6850 LBP|
|الدولار عند الصرافين لبنان (App)||6775 LBP||6675 LBP|
The average buying rate from all 8 apps is: Buy 1 USD = 6,744 LBP.
The average selling rate from all 8 apps is: Sell 1 USD = 6,763 LBP.
NB: Lebaneselira.org rates are not yet updated only once per day, at 13:00 PM. Kindly note that the website’s servers are down at the moment, if this incident did not resolve tomorrow, we will remove this website from our data.
Lebanese Lira Exchange Intraday News:
- The USD to LBP black market opened on a bullish trend, most apps reported a loss for the Lira by approximately 50 to 150 points.
- The Dollar to Lebanese Lira rate today will probably be affected by the government formation news which looks to be positive.
- At 11:15 AM, Lirarate.com reported a 50 points gain for the Lira.
- At 2:00 PM, all of the 8 apps reported a loss of 50 to 100 points for the Lira.
- At 6:00 PM, the majority of the apps are reporting an increase of 50 to 75 points.
- This week is crucial for the USD to LBP rates as many important events will take place: Government formation talks, the Border Line negotiation, public sector salaries to name a few.
Monday 26 October 2020 End of Day Resume:
Despite the positivity propagated by politicians from all factions of the nation, the Dollar to Lebanese pound exchange rates from the black market increased by an average of 50 points compared to yesterday as per 8 different sources.
Yes, 50 points might not be significant for small-scale exchange amounts, but private sector companies, especially SME’s who import products or goods from abroad using large amounts are affected by such an increase.
In fact, private sector companies are one of the factors that affect the rate increase.
A Japanese truck dealer, for example, can not import the appropriate number of trucks unless they exchange LBP’s for Dollars or sell the truck in cash dollars.
In both cases, whether the dealer exchanges the Lira or the client exchange his Liras to buy the truck; this creates a high demand for the Dollar banknotes. The result? Higher rates of USD to LBP.
This is only one example from hundreds of sectors who are forced to import their products or raw material from abroad.
Rumors of fresh dollars being pumped in the Lebanese market from last week are circulating.
The questions are:
- Who injected the fresh Dollars?
- For what purpose?
- If the rumors are true, which political party or banking institution has the ability and interest in doing so and to what purpose?
- If a banking institution is doing so, why not spread those fresh Dollars to the public sector companies using a well-devised plan to decrease the pressure on the Lira?
We invite you to join this discussion and publish your thoughts and ideas on these questions using the comments box below!
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