Lebanese Lira Rate Today 10-27-2020

This week, many important events will define the trajectory and trend of the USD to LBP rate, the Lebanese Lira rate for today Tuesday, October 27, 2020, as per 7 different black market apps and websites are as follows:

App / Website Buy 1 USD Sell 1 USD
USD Market 6800 LBP 6900 LBP
Lirarate.com 6950 LBP 6900 LBP
Lebaneselira.org* NA NA
Adde Dollar Lebanon 6900 LBP 7000 LBP
LBP to Dollar App 6950 LBP 6850 LBP
Lebanese Market LBP USD 6900 LBP 6870 LBP
Sarraf Lebanon 6970 LBP 6800 LBP
الدولار عند الصرافين لبنان (App) 6900 LBP 6800 LBP

 

NB: We have excluded Lebaneselira.org as the website is down since yesterday afternoon.

The official rate stands at 1507.5 LL to 1515.

Checks are withdrawn at 3,900 LL depending on each bank’s rules and regulations from the Central Bank of Lebanon (BDL).

OMT transfers are withdrawn in cash dollars or the sender’s currency.

Wire transfers are withdrawn in cash Dollar banknotes depending on the amount.

Lebanese Lira Intraday Currency News:

  1. 10:00 AM, the black market opened on a significant increase of the dollar by 150 to 200 points vs yesterday’s rates.
  2. 10:30 AM, the Increase of the USD to LBP by approximately 100 points is reported by all 7 applications and websites.
  3. Government formation talks seem to have slowed down, but still, all political factions are very silent which may be affecting the Dollar to Lebanese pound rates.
  4. At 11:05 AM, LBP to Dollar app reported a loss for the Lira by 50 points.
  5. At 11:20 AM, Beirut time, the “Adde Dollar” application reported a gain for the USD by an additional 50 points.
  6. At 11:30 AM, “Sarraf Lebanon” application reported a 50 points loss for the Lira, 1 USD = 6,850 LBP. Simultaneously, LBP to Dollar App reported the same increase for the USD.
  7. At 11:35 AM, the ” USD Market” and “Adde Dollar” applications reported an additional 50 points loss for the Lebanese pound.
  8. Noon today, the bullish trend of the exchange rate 1 Dollar to Lebanese Lira is clear, all 7 apps reported a 50 points loss for the Lira.
  9. At 13:00 PM, most applications reported an increase in the Dollar rate of around 100 to 150 points, the USD reached 7,000 LL again.
  10. Complications in the government formation are starting to appear, mainly, the Druze ministers and the Christian party’s ministers distribution. On the other hand, Weam Wahhab met with President Aoun and said that the formation is on track.
  11. At 13:20 PM, the “الدولار عند الصرافين لبنان” application was the last application to report 100 points appreciation to reach 1 USD = 6,950 LL.
  12. At 3:00 PM, the “USD Market” app and Lirarate.com both reported a loss for the Dollar of 50, too early to predict a trend.
  13. At 6:00 PM, some of the apps showed a loss for the Dollar of 50 points.

At the end of this day, the USD to Lebanese Lira rate kept increasing throughout the day. Since early morning, Lira consistently lost 50 points until late afternoon.

Will tomorrow witness a break for the resistance Level of 1 USD = 7,000 LBP?

How will the political news affect the black market?

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