Today, Sunday, November 22, 2020, we LiraExchange.com do NOT post any USD to LBP updates from the black market apps.
This is not for us to take a day off; this is because those applications are among the many politicians, banks, media, and individuals who are actively manipulating the Lebanese Lira currency exchange rate.
We are not here to judge or blame anyone; we are here to give you a clear picture of the exchange market and valuable currency news.
On the contrary, those Dollar to Lira apps are religiously acting to devaluate our currency more.
Adde Dollar Lebanon Application:
Surprisingly, the Adde Dollar Lebanon app updated the rates early this Sunday morning at around 7:00 AM. The question is, how can people be exchanging currencies on a Sunday morning to the extent of the USD gaining additional points?
The whole country is on lockdown due to COVID-19, and Sunday is a Day Off for nearly everyone. Official exchangers are supposedly closed, so how come the rate update on such a day and that early?!
Huge Manipulation On Weekends!
After two months of daily and hourly observation, we have concluded that the black market sources are deepening the currency crisis during weekdays and weekends.
The masses are highly affected and react to sentiments; those applications and websites fuel a fear sentiment.
They do so by bombarding the Lebanese users with consistent notifications, most of them indicate an increase in the USD value and the recent trend; the notifications are used to spread bad news and fear.
In return, people will flock to anyone who might buy their Liras to accumulate more and more USD banknotes at home, thus the madness of the Lira devaluation.
Even more alarming is that those apps religiously increase the USD to LBP rate on Saturday night and throughout Sunday even though those 2 days have little to zero activity.
They do so so that we all wakeup Monday on a significant increase, which is unjustifiable in any way or form, and we go on and embrace those rates by begging every single crook out there to buy our Liras!
Long Story Short!
The majority of the black market USD LBP applications and websites are most probably part of the problem.
Also, we doubt that all of them have one or two owners, operating simultaneously, and most probably, they are exchangers themselves.
Of course, a few are legitimate data providers and do what they are supposed to do, just providing data.
One can not underestimate the immensity of how these apps are taking everyone to a very dark era of the history of Lebanon.
Are They Investigated?
A few weeks ago, the USD to LBP apps were mentioned in some news reports from Lebanese TV stations, and the mystery surrounding these apps was discussed.
The news also discussed the possibility of shutting down these applications but is this going to happen?
The answer to the question is self-evident for us; they would have never operated so freely as they are if they were not backed or owned by a powerful party or parties.
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