The Lebanese Lira rate yesterday seemed to be steady; very few changes occurred throughout the day. The currency rate for today, Tuesday 24, November 2020, as per 7 various black-market apps is as follows:
|App / Website||Buy 1 USD||Sell 1 USD|
|Adde Dollar Lebanon||8100||8200|
|LBP to Dollar App||8200||8100|
|Lebanese Market LBP USD||8240||8180|
|الدولار عند الصرافين لبنان||8150||8100|
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.
Checks are withdrawn at 3,900 LL depending on each bank’s rules and regulations from the Central Bank of Lebanon (BDL); private sector companies struggle with a minimum limit of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OMT transfers are withdrawn in cash dollars or the sender’s currency.
Wire transfers are withdrawn in cash Dollar banknotes depending on the amount.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 Rate Currency Intraday News Updates:
- The USD to LBP this week seems to have slowed down; fluctuations are slight and few. Of course, the Dollar to Lebanese Lira applications have a serious impact on the public sentiment and the USD’s supply/demand, but this week the apps seem to slow things down.
- According to the Foundation of Economic Education, Lebanon is the first country in the Middle East and North Africa Area (MENA) to enter such unprecedented hyperinflation. It continues to describe the crisis as the worst Lebanon has ever seen since 1975.
- At 12:30 PM, Beirut time, all the Lebanese Lira to Dollar black market apps reported a slight increase for the USD. The average Buy 1 USD = 8,236 LL.
- At 1:30 PM, five out of seven parallel market apps and websites reported an appreciation for the Lira currency of about 25 points. The new average buy USD is equal to 8,218 LL.
- For those of you asking: how much is the Lebanese Lira today? The good news is that since yesterday the demand seems on the Dollar seems to have slowed down a bit. We will update the rates hourly, so check back for the most recent news.
- At 1:50 PM, the “USD Market” application reported an additional appreciation of the Lira by a slight 25 points.
- At 2:10 PM, the “Adde Dollar Lebanon” app reported a slight depreciation for the USD of 20 points.
- At 2:25 PM, the Sarraf Lebanon and USD Market app reported depreciation of the Dollar by 25 additional points.
- We hope that this slow but steady bearish trend of the USD to continue further this week.
- At 3:00 PM, the Dollar to Lebanese Lira black market is still on a bearish trend; 2 apps reported a slight increase for the US Dollar of 25 to 50 points.
- At 3:10 PM, Lirarate.com reported an appreciation of the Lira by 25 points. The updated USD to LBP average is 1 Dollar = 8,186 LL.
- At 4:10 PM, all the parallel market sources reported an appreciation of the Lira by 50 to 100 points. The new average is 1$ = 8,149 LBP.
- At 5:20 PM, 4 resources reported an increase of 50 to 100 points for the USD. The sources are Lirarate.com, USD Market, Sarraf Lebanon, and LBP to Dollar app.
- At 5:45, the “Sarraf Lebanon” application reported a 50 points increase for the Dollar.
Conclusion of The Day & Observations:
At the end of this day, 24.11.2020, the Lira rate increased in value slightly. Comparing to the past two weeks’ madness, this week is relatively slow with no dramatic changes.
Of course, this isn’t a trend to rely on as many factors can change the situation drastically and quickly.
The USD/LBP apps are playing a significant role in steering the public’s sentiment toward buying Dollar banknotes, one of them bombards the users with negative news alerts, fake or not, what’s the purpose of fueling fear?
Check out the rates for Wednesday, November 25, 2020, here: https://liraexchange.com/lira-rate-lebanon-black-market-today-11-25-2020/
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