Yesterday wasn’t a good day for the Lira rate, all different black market sources and USD to LBP telegram groups reported gain for the dollar. The LBP for today, Wednesday, October 28, 2020, as per 8 exchange market sources are as follows:
|App / Website||Buy 1 USD||Sell 1 USD|
|Adde Dollar Lebanon||6800||6950|
|LBP to Dollar App||6880||6825|
|Lebanese Market LBP USD||6920||6820|
|الدولار عند الصرافين لبنان (App)||6920||6820|
NB: Lebaneselira.org is back online, they only update the rate once or twice a day. On an additional note, the website was down for 24 hours due to the fact that the owners of the website could not transfer the hosting fees in USD to the hosting company. Another episode of humiliation that affects every one of us.
The official LBP 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Checks are withdrawn at 3,900 LL depending on each bank’s rules and regulations from the Central Bank of Lebanon (BDL).
OMT transfers are withdrawn in cash dollars or the sender’s currency.
Wire transfers are withdrawn in cash Dollar banknotes depending on the amount.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 Currency Intraday News:
- At 9:30 AM, Beirut time, the black market is not yet very active, minimal activity is reported. Usually, the fluctuation starts after 10:00 AM.
- At 10:30 AM, the USD to LBP apps and websites opened up on a depreciation of the Lira, all apps reported a loss, the average Buy 1 USD = 6,940 LL.
- The recent meeting of Prime Minister-elect Saad Al Hariri and President Michel Aoun looked to be encouraging on all levels, but, the final government formation is not likely to be finalized by the end of this week.
- 11:30 AM, The Dollar to Lira rate is stable. Unlike yesterday’s bullish trend, the 1 USD = 7,000 LL resistance barrier is net yet breached. Stay tuned for further intraday currency updates.
- USD/LBP buy and sell telegram groups are somewhat quiet today, buying and selling requests are lower than previous days’ activity.
- The slow activity today might be due to the anticipation of the government formation outcome or any other news.
- At 12:00 PM, 3 black market apps reported a slight gain for the Lira, as a result, the average Buy 1 USD dropped 20 points.
- 12:45 PM, the currency black market is still steady.
- At 13:25 PM, 4 out of 8 sources reported a gain of 25 to 50 points for the Lira to Dollars.
- At 2:45 PM, “USD Market” and “Sarraf Market” applications showed a conflicting decrease and increase for the Lira of 50 points.
- Telegram groups are also full of regular / Banker’s check buyers, the check buying rates for today varies from 35% to 38% depending on the amount.
- Lirarate reported a gain of 50 points for the Lira to reach a 1 USD = 6,900 LBP.
- At 6:00 PM, most of the apps reported a slight gain for the Lira of about 50 to 75 points, with updates going back to 3 hours ago on some of them.
The market today was slow, no significant changes occurred, the average Buy rate gained around 70 points today in favor of the LBP.
Of course, this isn’t the drop that we would all like to see.
Do you think that if the new Lebanese government formation succeeds we will see additional gains for the Lira against the Dollar?
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