The Lebanese Lira rate for October 2020 is on an upward trend, the exchange rate for USD to LBP on Friday, October 9, 2020, as per the black market applications and websites are as follows:
|App / Website||Buy 1 USD||Sell 1 USD|
|USD Market||8700 LBP||8800 LBP|
|Lirarate.com||8800 LBP||8700 LBP|
NB: Lebaneselira.org rates are not yet updated at this time (Beirut time 10:15 Am), usually they update the number at 11:00 AM Beirut time.
This morning, the currency exchange black market opened on a drop of approximately 50 to 25 points.
At 11:30 AM, the exchange rate of 1 USD to LL dropped an additional 80 to 100 points. This could be due to the end of week volatility in supply and demand.
At 13:00 PM, an additional drop of 80 to 100 points occurred.
At 14:00 PM, the USD to LBP rate on the black market increased by 100 points.
We predict the demand on the dollar will stay high until next Thursday’s prime minister nomination talks. If successful, a small decrease in the USD to LBP is predicted.
If prime minister nomination fails, the sealing for the demand can go unpredictable.
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