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Lebanon is living what US lived in the 1920s, they had the biggest ever economical crisis because of the ''laissez faire laissez passer'' principle that the government doesn't interfere with finance, they finally fixed the crisis by interfering and ending this principle, Lebanon about 100 years later didn't learn this lesson and they don't want to regulate the exchange offices even though we lived this situation already in 1989-1990 because private companies like exchange offices are stronger than public institutions
sold USD for 1900 on sat in Hamra
sold USD for 2005 in hamra an hour ago
nosense wrotesold USD for 2005 in hamra an hour ago
That is quick! What the hell is happening
NuclearVision wrote
nosense wrotesold USD for 2005 in hamra an hour ago
That is quick! What the hell is happening
That's pretty normal.... the true exchange rate is 3000LL per dollar. We're catching up slowly.
Kareem wrote
NuclearVision wrote
nosense wrotesold USD for 2005 in hamra an hour ago
That is quick! What the hell is happening
That's pretty normal.... the true exchange rate is 3000LL per dollar. We're catching up slowly.
according to what, who ?
Speculation for tomorrow 2500 LL
NuclearVision wrote
Kareem wrote
NuclearVision wrote That is quick! What the hell is happening
That's pretty normal.... the true exchange rate is 3000LL per dollar. We're catching up slowly.
according to what, who ?
According to the economical situation in the country, the demand and supply. No fresh dollar is coming from abroad so your reserve is getting lesser.
True, since 1990s the real value of the dollar is around 3000 by supply and demand. But some say not just the "financial engineering" fixated the rate but also politics.
kareem_nasser wroteTrue, since 1990s the real value of the dollar is around 3000 by supply and demand. But some say not just the "financial engineering" fixated the rate but also politics.
It's not politics or financial engineering, the thing is that the government and BDL wanted to borrow money, but the banks wouldn't accept because the LBP rate was fluctuating.

So BDL reassured the banks by fixing the rate at 1500 LBP/USD so they can lend him money despite the huge interest rate.

As of today, the rate is still 1515 and BDL is doing its best to protect the money of the banks ( not people ) although a much higher rate would mean less debts but nevertheless they insist on it.
What's the exchange rate like today, anyone tried?
nefe_lpmk wroteWhat's the exchange rate like today, anyone tried?
2050
Why doesn't the gov enforce the fixed rate or ban usd exchange.
I'm positive that exchangers are just making up these values.
There's no way that usd demand is increasing day after day
NuclearVision wroteWhy doesn't the gov enforce the fixed rate or ban usd exchange.
I'm positive that exchangers are just making up these values.
There's no way that usd demand is increasing day after day
many people are still converting their money from lbp to usd even at these rates
nosense wrote
NuclearVision wroteWhy doesn't the gov enforce the fixed rate or ban usd exchange.
I'm positive that exchangers are just making up these values.
There's no way that usd demand is increasing day after day
many people are still converting their money from lbp to usd even at these rates
I agree, but this doesn't mean that demand is increasing....
There was demand before.
Not to mention that banks are not giving 50-100mil lbp amount for this specific reason, or so the guy on the TV said.
I don't blame the people for securing their savings, but the collectivit doing this is just making things worse, and there's no monitor of exchangers! Usd is not a merchandise.. Even merchandise undergo price monitoring.
I think that it is not only a matter of people converting money, we are talking about importing items from Outside, hence why a lot of the prices of the imported items in the Supermarkets are increasing
NuclearVision wroteWhy doesn't the gov enforce the fixed rate or ban usd exchange.
IDK but I don't think it would help to ban anything.

People will exchange money on the streets, and in their living room.

And by the way the price will become even higher, like what happens with drugs when you ban them.

Anyway in Lebanon the police is weak. This type of communist policy that you described need a lot of enforcement resources to scare or catch people.