For the past two weeks, the Lira rate in Lebanon saw a bullish trend. Fueled by many factors; including a political stalemate, COVID-19 lockdown, the US presidential elections, and by the many black-market USD to LBP apps. The currency rates for today Thursday, November 19, 2020, as per 8 different applications and websites are as follows:
|App / Website||Buy 1 USD||Sell 1 USD|
|Adde Dollar Lebanon||8350||8450|
|LBP to Dollar App||8400||8350|
|Lebanese Market LBP USD||8410||8340|
|الدولار عند الصرافين لبنان||8450||8350|
Checks are withdrawn at 3,900 LL depending on each bank’s rules and regulations from the Central Bank of Lebanon (BDL); private sector companies struggle with a minimum limit of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.
NB: WE DO NOT ENDORSE, OWN OR OPERATE ANY OF THE APPS AND WEBSITES MENTIONED ABOVE. WE ARE NOT EXCHANGERS.
The official LBP rate stands at 1507.5 LL to 1515.
OMT transfers are withdrawn in cash dollars or the sender’s currency.
Wire transfers are withdrawn in cash Dollar banknotes depending on the amount.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 Rate Currency Intraday News:
- The apps did not start updating yet as of 9:30 AM, but we noticed that yesterday several of them reported a significant increase of USD vs LBP until 9:30 PM which is quite unusual.
- As expected, the rest of the apps followed the trend and are all reporting a huge increase of the USD to LBP, adding insult to injury, some of them describe the increase as the “Madness of the Dollar”. Are the apps pushing the demand on the USD? Are they part of the “Madness” propaganda?
- At 11:00 AM, Beirut time, 6 out of 7 apps reported an increase of 100 to 150 points, the average Buy 1 USD = 8,407 LBP.
- At this rate increase, we are going to reach the 9,000 LL by Saturday or Monday, November 23, 2020 maximum. If you do not urgently need Dollar Banknotes, please do not exchange your Lira for the Dollar!
- At 11:30 AM, 3 applications reported a 50 points depreciation of the Lira.
- At 12:05 PM, the “Sarraf Lebanon” application reported depreciation of the Dollar by 40 points. Hopefully, the other apps will follow on such a decrease.
- At 12:30 PM, 4 apps updated their rates, 2 with a slight decrease, 2 with a 100 points increase of the USD value.
- At 13:00 PM, all of the 6 apps except Lirarate.com reported a drop for the USD from 80 to 100 points the average Buy 1 USD is 8,419 LBP.
- At 13:40 PM, Lirarate.com reported an increase in the Lira value of 50 points while the “الدولار عند الصرافين لبنان” app showed and decrease of 100 points.
- At 14:00 pm, The “LBP To Dollar App” reported an appreciation of the Lira by 50 points.
- At 14:30 PM, the “Sarraf Lebanon” app reported an appreciation of the Lira by 30 points.
- 16:00 PM, No significant changes in the currency exchange rates as of 14:30 PM.
- At 19:00 PM, the afternoon parallel market activity seems to have slowed down, are the apps going to start pushing the prices up after 20:00 PM? Check back to see the rates!
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