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The decision by the Exchange House (Sarrafeen) is in fact true. It has been confirmed.

However, the agreement is to ONLY set the BUY $ price at 2,000.

There is NO agreement on the sale of $. Sarrafeen, from what is understood at this moment, can set the SELL $ price without restrictions.

This means that if you have Lebanese Lira, you can now buy $ at 2,000 at any Sarraf. But there is no set price for how much Lebanese Lira you can get when you are selling your $.

As for today:

They buy it at 2000 and sell it at 2050 - 2100. 2000 is the max it will not increase anymore after yesterday meeting with BDL. For the near future no body knows any sudden turnovers. In such way inflation is fixed at 33% - 35% lose of the LBP value which or purchasing power. Sad
the vast majority of Sarafen not selling US dollars.

soon we will have a 3rd market.
My speculation on this are that the Sorafin are not happy with the new cap agreement and it is the only way to put pressure without getting penalized. Their end goal is increasing demand and decreasing supply thus controlling the inflated market indireclty.This is unethical and has to stop
xerxes wrotethe vast majority of Sarafen not selling US dollars.

soon we will have a 3rd market.
No doubt. That's corruption. i'm afraid the $ might go to other nearby countries that are banned by US from using $. While Lebanon will suffer more.
lots of people are willing to buy at 2,000 (including Importers ofcourse).

I think think its cheap considering the situation we are in.
Tech Guru wroteThe decision by the Exchange House (Sarrafeen) is in fact true. It has been confirmed.

However, the agreement is to ONLY set the BUY $ price at 2,000.

There is NO agreement on the sale of $. Sarrafeen, from what is understood at this moment, can set the SELL $ price without restrictions.

This means that if you have Lebanese Lira, you can now buy $ at 2,000 at any Sarraf. But there is no set price for how much Lebanese Lira you can get when you are selling your $.

As for today:

They buy it at 2000 and sell it at 2050 - 2100. 2000 is the max it will not increase anymore after yesterday meeting with BDL. For the near future no body knows any sudden turnovers. In such way inflation is fixed at 33% - 35% lose of the LBP value which or purchasing power. Sad
They should cap both at about 1550.
Got $ now at 2100LL, I am afraid it will increase again, I received a notification from a LL to $ app saying it's increasing to 2150$ and even if you want to sell $ it increased to 2050
infiniteloop wroteGot $ now at 2100LL, I am afraid it will increase again, I received a notification from a LL to $ app saying it's increasing to 2150$ and even if you want to sell $ it increased to 2050
So what?
The announcement of the decision of the exchange house is not being applied?
AVOlio wrote
infiniteloop wroteGot $ now at 2100LL, I am afraid it will increase again, I received a notification from a LL to $ app saying it's increasing to 2150$ and even if you want to sell $ it increased to 2050
So what?
The announcement of the decision of the exchange house is not being applied?
No, it's already at 2025-2050LL while it was supposed to stay at 2000, it didn't last 24h
You should report it right now.
There was an official picture of the memo floating around the internet and a phone number was put right under the document.
You should call and report the exchange place that sold you $ above 2000LL
report to whom? to the ones holding our money at the banks? to the ones who were ripping us off for 30 years.
they are all in this brother
AVOlio wrote
infiniteloop wroteGot $ now at 2100LL, I am afraid it will increase again, I received a notification from a LL to $ app saying it's increasing to 2150$ and even if you want to sell $ it increased to 2050
So what?
The announcement of the decision of the exchange house is not being applied?
of course it will not be applied.
No one will sell $$ to exchanges (unless in desperate for lbp) because they worth more than 2,000 lbp
Exchanges will not sell $$ at 2050-2100 because they bought $ at 2400 a few days ago

Even if the exchange syndicate decided the price at 2,000, they can't force it
And in case a new law has been implemented to force this, a 3rd black market will appear
Read this: https://threadreaderapp.com/thread/1220072937069449216.html


Edit to add a quote from an article:
لا تملك النقابة سلطة على الصرافين، من هنا فإنّ التهديد بالملاحقة القانونية يبقى كلاماً بكلام ربما لتهدئة الشعب الغاضب والثائر
Someone I know was buying USD for 2000, but was only selling to known entities and people and as of this morning, 2150. I saw some random guy trying to buy USD (I think he was Syrian) and he told him that he didn't have any for sale. It didn't help that the guy was trying to get about $25K I guess.

More or less--they are buying as much as they can, but not selling right now.
xazbrat wroteIt didn't help that the guy was trying to get about $25K I guess.
Seriously, trying to buy $25K from some random guy off the street?
We desperately need a law to control these mafias severely and put max quotas like in any other country, the problem is that these sarafin are protected by political parties
rolf wrote
xazbrat wroteIt didn't help that the guy was trying to get about $25K I guess.
Seriously, trying to buy $25K from some random guy off the street?
Not really a random guy---sort of runs/owns an OMT branch, so there are customers there for other reasons.
6 days later
I am selling EUR at the free market rate.
Bank Audi stopped exchanging lbp to usd, i have novo debit card.. they told me the account should be in usd to allow online usd payments, i had a shipment stuck at easyshop and i needed 44$ to release it before it passes the 14 days storage period.
i bought 100usd for 215,000 L.L, went back to the bank, they said they are not opening usd accounts. i called all my friends and told them to ask their banks. Fransa Bank agreed to load the online card if i pay cash in usd.. and thats what happened. so much trouble for a small payment. shipping from abroad was hard before the crisis, now its almost impossible.
There are LOT of $ cash in Lebanon but the exchange places are holding them to raise the price, these people established a terrible mafia with political cover
infiniteloop wroteThere are LOT of $ cash in Lebanon but the exchange places are holding them to raise the price, these people established a terrible mafia with political cover
It was mentioned in several places, the banks are giving the exchanges the $$$, so is the central bank