Lira Exchange Lebanese Lira News USD To LBP Today Black Market – 29/5/2021

USD To LBP Today Black Market – 29/5/2021

Saturday 29 May 2021, the USD to LBP today black market rate as of writing this post is $1 = 12,750 Lebanese Lira (11:30 AM).

The past week was very volatile for the Lira rate, mainly on a bearish downward trend.

No one knows where is the USD price in Lebanon going. The people responsible for solving this crisis are making things worse by doing nothing or by worsening the situation further.

USD To LBP Today Black Market

 

Riad Salameh Uses A Graph Picture From Lirarate.com!

In an interview with Al Hadath news station, the Lebanese Central Bank governor Riad Salameh said nothing more than lies and deceit.

As usual, he did not make himself responsible for any of the crises that we are facing.

To make things worse, he used a graph showing the Lira rate devaluation over time from the black market unregulated website Lirarate.com.

Lirarate.com was shut down by the government a few weeks ago, only to relaunch under the domain name Lirarate.org.

How can a central bank governor use documentation of currency black market website?

This is a disaster. When someone like Riad Salameh starts using unofficial sources, it indicates that he has no control over anything.

In addition, it validates the black market apps that are running the show of the USD to LBP rates.

Riad Salameh Showing A Graph From A Black Market Website

You can watch the full interview of Riad Salameh on Al Hadath here:

 

Next Week Expectations:

The coming week will not be easy on the Lira, mainly that the rate is governed by apps and websites owned by black-market currency exchangers.

Monday will be a critical day that will define how the market will go.

The moment that the official SAYRAFA lira exchange platform was released for minimal categories of individuals and businesses. The release rate was $1 = 12,000 LBP, the USD price will no longer go below 12,000 LBP.

Check back on Monday 31 May to see the hourly dollar rates.

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