This week is proving to be slow and steady for the Lira rate in Lebanon. The black market yesterday showed very few updates compared to the past few weeks. The USD to LBP rates as per 7 different black market apps and sources are as follows:
|App / Website||Buy 1 USD||Sell 1 USD|
|Adde Dollar Lebanon||8250||8350|
|LBP to Dollar App||8325||8250|
|Lebanese Market LBP USD||8270||8220|
|الدولار عند الصرافين لبنان||8300||8250|
The official LBP rate stands at 1507.5 LL to 1515.
NB: WE DO NOT ENDORSE, OWN, OR OPERATE ANY OF THE APPS AND WEBSITES MENTIONED ABOVE. WE ARE NOT EXCHANGERS.
Checks are withdrawn at 3,900 LL depending on each bank’s rules and regulations from the Central Bank of Lebanon (BDL); private sector companies struggle with a minimum limit of Cash LBP withdrawals.
OMT transfers are withdrawn in cash dollars or the sender’s currency.
Wire transfers are withdrawn in cash Dollar banknotes depending on the amount.
Furthermore, checks are being sold and bought on telegram groups for Lebanese Lira or in cash Dollar banknotes depending on supply and demand.
Lira Currency Exchange Rate Updates & News:
- At 8:45 AM, The “Adde Dollar Lebanon” application reported a 50 points increase for the Dollar. This app looks to be the first app to send currency updates early in the morning, and when this happens, it is always for an appreciation of the USD.
- This morning, the opening average is 1$ = 8,199 LBP.
- At 9:05 AM, Beirut time, the ” Sarraf Lebanon ” and ” الدولار عند الصرافين لبنان ” applications reported a devaluation of the Lira by 25 points.
- At 9:40 AM, the “Adde Dollar Lebanon” app reported an additional depreciation of the Lira by 50 points.
- At 11:00 AM, Lirarate.com, USD Market, LBP to Dollar websites, and applications reported a 50 points increase for the USD.
- The bullish trend started in the early morning; what will be the rates at the end of this day? Check back for hourly updates.
- At 11:40 AM, 5 out of 7 parallel market sources and applications reported an increase of 40 to 50 points for the USD. The new average is 1$= 8,260 LL, 60 points up since early morning.
- At 1:05 PM, three apps: “USD Market,” “LBP to Dollar,” and “Sarraf Lebanon” reported a slight appreciation of the Lira by 20 to 25 points.
- Officially, the United Arab Emirates will decline future visa requests from Lebanese citizens. Is this a political decision, or is it related to the COVID-19?
- From 3:00 PM to 5:20 PM, no significant changes occurred, only a slight price decrease and increase here and there.
- At 5:30 PM, the Adde Dollar Lebanon app reported a price increase of 50 points for the USD to LBP.
- At 6:05 PM, 2 apps reported a price increase of 50 and 75 points. The new average buy of 1 USD is = 8273 LL.
Conclusion of The Day & Observations:
At the end of this day, November 25, 2020, all the Lira gains before noon were recovered by the time we reached 6:00 PM.
The black market applications activity peaked in the afternoon and nearly stopped after 6:30 PM.
No one can predict how the Lira rate will behave in the coming days and weeks. Amidst the lockdown and a political deadlock, the only locked party is the Lebanese people from every religion and origin.
The government formation is still in a stalemate mode. No one can clearly explain what they are waiting for to form a new cabinet.
Check back tomorrow, Thursday, November 26, 2020 ( 11-26-2020), for more daily and hourly currency updates.
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