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Yes interesting but dude, it's the airport! Worst ripoff you can find.
rolf wroteYes interesting but dude, it's the airport! Worst ripoff you can find.
Yes but if I'm getting 2,000,000LL per $1000 USD in Lebanon, I can get 2,700,000 LL per $1000 USD there.
Kareem wrote
rolf wroteYes interesting but dude, it's the airport! Worst ripoff you can find.
Yes but if I'm getting 2,000,000LL per $1000 USD in Lebanon, I can get 2,700,000 LL per $1000 USD there.
What?? I see, sorry it did not register property at first.
Kareem wrotehttps://pbs.twimg.com/ext_tw_video_thumb/1204737666874519552/pu/img/wy02EyGFBONxyB-G?format=jpg&name=small

Actually I was just thinking of something. This exchange office name is Global exchange Istanbul....

So If I actually have dollar, can I buy LBP ? Ironically it's possible.

https://i.gyazo.com/619eab577408f3b070870ca296b230df.png

25,000 TRY is the maximum allowed per transaction. Now 25k TRY is roughly 4300 USD; rate is 2700+

Quite interesting to be honest.
That's epic!
But the question is, do they have good amounts of LBP?
sero wrote
Kareem wrotehttps://pbs.twimg.com/ext_tw_video_thumb/1204737666874519552/pu/img/wy02EyGFBONxyB-G?format=jpg&name=small

Actually I was just thinking of something. This exchange office name is Global exchange Istanbul....

So If I actually have dollar, can I buy LBP ? Ironically it's possible.

https://i.gyazo.com/619eab577408f3b070870ca296b230df.png

25,000 TRY is the maximum allowed per transaction. Now 25k TRY is roughly 4300 USD; rate is 2700+

Quite interesting to be honest.
That's epic!
But the question is, do they have good amounts of LBP?
The interesting part is that you can request the amount on their website so they can arrange it for you. Now I don't know how legal this is but I don't see any criminal activity.
Can someone explain how does that even work ? Why is the LBP in Turkey exchanged at 1$ = 2,700 when even in Lebanon its not that much
TigerFox wroteCan someone explain how does that even work ? Why is the LBP in Turkey exchanged at 1$ = 2,700 when even in Lebanon its not that much
What is the value of our currency outside Lebanon? What could they actually buy with it? Nothing. :) So basically they are just providing you with the actual exchange as simple revenue via conversion. Meaning the Lebanese currency will remain at the exchange with a low possibility of actually selling it to anyone, and if they did, well they already bought it at a high price for USD.

To anyone outside Lebanon, the Lebanese lira is basically worthless. They would even sell you 1 USD for 5000LL.
kareem_nasser wrote
TigerFox wroteCan someone explain how does that even work ? Why is the LBP in Turkey exchanged at 1$ = 2,700 when even in Lebanon its not that much
What is the value of our currency outside Lebanon? What could they actually buy with it? Nothing. :) So basically they are just providing you with the actual exchange as simple revenue via conversion. Meaning the Lebanese currency will remain at the exchange with a low possibility of actually selling it to anyone, and if they did, well they already bought it at a high price for USD.

To anyone outside Lebanon, the Lebanese lira is basically worthless. They would even sell you 1 USD for 5000LL.
That's what I thought at the beginning , but like , is that legal ? Does one not get caught bringing back all that money to Lebanon ?
TigerFox wrote
kareem_nasser wrote
TigerFox wroteCan someone explain how does that even work ? Why is the LBP in Turkey exchanged at 1$ = 2,700 when even in Lebanon its not that much
What is the value of our currency outside Lebanon? What could they actually buy with it? Nothing. :) So basically they are just providing you with the actual exchange as simple revenue via conversion. Meaning the Lebanese currency will remain at the exchange with a low possibility of actually selling it to anyone, and if they did, well they already bought it at a high price for USD.

To anyone outside Lebanon, the Lebanese lira is basically worthless. They would even sell you 1 USD for 5000LL.
That's what I thought at the beginning , but like , is that legal ? Does one not get caught bringing back all that money to Lebanon ?
Which part is exactly illegal?
kareem_nasser wrote
TigerFox wrote
kareem_nasser wrote
What is the value of our currency outside Lebanon? What could they actually buy with it? Nothing. :) So basically they are just providing you with the actual exchange as simple revenue via conversion. Meaning the Lebanese currency will remain at the exchange with a low possibility of actually selling it to anyone, and if they did, well they already bought it at a high price for USD.

To anyone outside Lebanon, the Lebanese lira is basically worthless. They would even sell you 1 USD for 5000LL.
That's what I thought at the beginning , but like , is that legal ? Does one not get caught bringing back all that money to Lebanon ?
Which part is exactly illegal?
Not implying it being illegal , was just asking if it is legal or not
kareem_nasser wrote
TigerFox wroteCan someone explain how does that even work ? Why is the LBP in Turkey exchanged at 1$ = 2,700 when even in Lebanon its not that much
What is the value of our currency outside Lebanon? What could they actually buy with it? Nothing. :) So basically they are just providing you with the actual exchange as simple revenue via conversion. Meaning the Lebanese currency will remain at the exchange with a low possibility of actually selling it to anyone, and if they did, well they already bought it at a high price for USD.

To anyone outside Lebanon, the Lebanese lira is basically worthless. They would even sell you 1 USD for 5000LL.
I am certainly very interested in buying LBP at rates above 2100 LL. Think about it.... If I go with $4000 USD and come back with 20,000,000 LL I'll be able to either exchange it back to USD or pay loans in LBP such as housing loan.
In most countries there is a limit on the amount of cash you can carry with you at the airport.

Source: watching border control documentaries
Guys do you think the rating will reach 2200 again ? Since a new government is being baked around the corner.
@Kareem then there must be something the government reinforces that we are ignorant about. Including what adnan mentioned and Tiger questioning its legitimacy. So basically how will you carry those money in cash passing by two airports?
1k in your wallet, 1k in your cabin bag, 1k in your laptop bag, 1k in your suitcase.
Camouflage it among booklets, postcards, leaflets (for the X-ray checks)
You could probably get away with more then that.
I'd just pay someone's ticket and some extra to just come with me and carry an extra 10k, as its profit is much higher.
Guys.. Theoretically, they shouldn't have much LBP since, well you saw the rate. Don't overthink this, there's nothing such as free money, people are not stupid they won't buy Lbp for high and sell it to you for low.
NuclearVision wroteGuys.. Theoretically, they shouldn't have much LBP since, well you saw the rate. Don't overthink this, there's nothing such as free money, people are not stupid they won't buy Lbp for high and sell it to you for low.
It's not about the people's stupidity, it's just different demand and supply in different markets.
Even in Lebanon you can find two completely separate rates, buying in one whilst selling in the other will make you profit. What you're doing is making profit off the spread and market price difference among exchanges.
Eventually, if everyone does this, the market will regulate by itself.
exactly... Demand and supply, what's the supply of lbp for lbp-> usd at 5000LL. Pretty null in my opinion.
I just want to confirm the accuracy of rates on businessnews.com.lb (it is starting to look like exchanges are following this rate). I bought $1000 today. So it seems that the dollar crunch has eased. 2-3 weeks ago they did not even have that amount.

My interpretation, if anyone in interested: I guess many panicked and bought too many dollars a few weeks ago. now they are trying to sell them again to cover their expenses. Also many people are arriving for Christmas so this increases the supply of foreign currencies and increases the demand for LL.

Possibly, at the beginning of next year, the rate will slowly increase again. But IMO the market is more stable now and should not shoot up again.