Lirarate.org is a black market USD to LBP website that started operation in early 2020.
The Lebanese government shut down its previous version of Lirarate.com along with Lebaneselira.org.
The website is one of a dozen dollar rate websites and apps actively involved in the currency’s pricing.
Being one of the oldest in the market, the website gets thousands of visitors daily looking for the dollar price.
They claim to have 30k daily visitors with millions of returning visits.
Effects Of The Websites & Apps:
The black market Lira apps and websites are a significant player in our nation’s national currencies demise.
Each of them has a vast audience that relies on their data and news alerts to know the USD to LBP rates.
The high number of users and app downloads is a mighty weapon at the hands of the app owners.
Considering that the same individual owns every 3 to 4 apps, the applications are a robust market and public sentiment manipulation tool.
Four apps can have anywhere from 200,000 to 400,000 downloads, so you can imagine how one notification can affect the population.
The websites and apps can easily and swiftly artificially decrease the Lira rate, thus creating fear and manipulate the public’s sentiment towards a particular goal.
Weekend Behavior:
All of the Dollar to Lira websites and apps have a typical behavior to increase the dollar price on weekends artificially.
Despite a few exceptions, weekends are usually the most disastrous for the Lira.
Suppose you have the guts and time to download 12 applications and monitor the websites. In that case, you will find that most of them report the exact same rates simultaneously.
How can the Dollar increase in price while most businesses and sectors are closed?
SAYRAFA Platform Impact:
As we expected, the SAYRAFA house application had a devastating effect on the Lira price since its launch.
Moreover, how the Sayrafa app was launched and the 12,000 LBP to the Dollar limited to very few beneficiaries gave more power to the black market apps.
That being said, just a few weeks after the official exchange platform launch, the Dollar price in Lebanon reached unprecedented highs.
Boycott The Apps & Websites:
The only way to fight back the currency manipulators is by boycotting the USD to LBP applications.
In addition, we have to report the apps to Google and Apple play store as currency manipulators, unlicensed, unregulated, and spammy.
Moreover, we should all uninstall the apps as soon as possible. When the masses do that, the applications will no longer have the strong impact they used to have.
Removing the apps from your phone will not make you blind to what is happening. You will always know the dollar price regardless if you have the apps or not.
Hariri Stepping Down:
Since the last meeting between Saad Hariri and Michel Aoun on 14/7/2021, rumors are circulating about the stepping down of Saad Hariri.
When this happens, the Lira rate will probably soar above 20,000 LBP to the Dollar.
That being said, the currency will be very volatile until a new PM is elected and until a new government is formed.
Dark Tunnel Ahead:
Unfortunately, the future does not seem to be bright and joyful. The country is hit by so many crises simultaneously affecting every aspect of the nation.
The political deadlock is here to stay until some significant event changes everything.
Lirarate.org is one of those websites that provide the Lira rate. The government shut it down only to come back with different domain names.
In conclusion, we are living in callous times where the law of the jungle rules everything.
We as a nation should collectively take actions that are within our powers to reduce the impact of the apps by boycotting them once and for all.
Karim.
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