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If you can make payments online with acceptable rates then there are a few options in theory, such as buying bitcoins and then sending them, or issuing bogus invoices to yourself which will be paid by a Lebanese card but routed to a US account.
What about internet cards (that we are still able to buy USD from the bank at official rate)?
Guitaret wrote
Kareem wroteI read few mins ago that banks will close tomorrow until further notice. I hope this ain't true otherwise I'll be in a really big trouble :)
This is now confirmed, "The union of bank employees declared an open strike starting tomorrow until things are calm again". Finally, they find a good excuse to shut down the bank: the safety of bank employees.
This is perfectly understandable. It is sad, the bank tellers are the public face of the bank and they have to deal with angry customers and much higher pressure than normally.

What everyone really needs to know is: what is their plan to make "things" to become "calm again"?
rolf wroteIf you can make payments online with acceptable rates then there are a few options in theory, such as buying bitcoins and then sending them, or issuing bogus invoices to yourself which will be paid by a Lebanese card but routed to a US account.
How can you buy bitcoin without losing like 10% of the money in Lebanon?


And Today's rate is 1900
Hybrid wrote
rolf wroteIf you can make payments online with acceptable rates then there are a few options in theory, such as buying bitcoins and then sending them, or issuing bogus invoices to yourself which will be paid by a Lebanese card but routed to a US account.
How can you buy bitcoin without losing like 10% of the money in Lebanon?


And Today's rate is 1900
it was 1720 in the morning. You sure ?
Hybrid wrote How can you buy bitcoin without losing like 10% of the money in Lebanon?

And Today's rate is 1900
If you're buying/selling crypto for more than 5% of its price in Lebanon, you're getting ripped off.
Kareem wrote
Hybrid wrote
rolf wroteIf you can make payments online with acceptable rates then there are a few options in theory, such as buying bitcoins and then sending them, or issuing bogus invoices to yourself which will be paid by a Lebanese card but routed to a US account.
How can you buy bitcoin without losing like 10% of the money in Lebanon?


And Today's rate is 1900
it was 1720 in the morning. You sure ?
yes I asked today about 12:00 pm
I guess it's varies from 1 place to another, but Saturday I asked, it was 1875 and yesterday it was 1900. Others are able to find better rates in different exchanges.
Starting from Today the ATMs are not being filled with USD anymore, I checked with multiple friends who works at banks and they confirmed that, how sad
Anyone knows what's the exchange rate is today?
USD / LBP = 1825 in Beirut.
Anyone knows whether black market bid price is similar as the ask price? Or are they still buying USD at ~1500?
They buy usd from you a little less then the buying price. Example if it is 1850 they give 1800 for your usd.
Ryanair's Cyprus ticket is 20$, since they're no longer filling atm's here with USD, withdrawing from there, exchanging from local dealer, depositing, then cycling again. (Which is perfectly legal from my part, as I'm not the one selling it for a price different than the one set by our bank)
ROI ~20% per cycle.
There is some slight problems with your business plan:
1.Currently money withdrawn from outside with your lebanese card is limited if not forbidden.
2.Cyprus deals with Euro and not with USD.
3.A large amount of money if caught and not declared to customs will be confiscated at the airport.

So my advise is to take caution if you attempt such a plan.
What you are attempting to do happened to us but insted of us going to cyprus for our usd Syrians came here to take it to their country hence this contributed a lot to our $ crisis. So i think Cyprus are aware and enforcing more stirct regulations.
bobo619 wroteThere is some slight problems with your business plan:
1.Currently money withdrawn from outside with your lebanese card is limited if not forbidden.
2.Cyprus deals with Euro and not with USD.
3.A large amount of money if caught and not declared to customs will be confiscated at the airport.

So my advise is to take caution if you attempt such a plan
Although I agree it may be risky for large amounts:
1. It is not forbidden, yet indeed limited (1000$ per day for most)
2. EURLBP, or EURUSD->USDLBP
3. Receipts!
Johnaudi wrote
bobo619 wroteThere is some slight problems with your business plan:
1.Currently money withdrawn from outside with your lebanese card is limited if not forbidden.
2.Cyprus deals with Euro and not with USD.
3.A large amount of money if caught and not declared to customs will be confiscated at the airport.

So my advise is to take caution if you attempt such a plan
Although I agree it may be risky for large amounts:
1. It is not forbidden, yet indeed limited (1000$ per day for most)
2. EURLBP, or EURUSD->USDLBP
3. Receipts!
If money transfer to abroad is not allowed, one would asume that withdraw may have new restrictions. Ask your bank if it is feasible
I will start a money Transfer business between Canada and Lebanon for usd. I see big opportunity if banks keep behaving in this manner.
I think any Lebanese abroad or anyone who has relatives abroad should consider doing the same. Render a service to people so that they can continue their degrees abroad and so that families in Lebanon don't starve waiting for their family member to send money (while banks are not operating)
LBP 1,800/$ two hours ago, Hamra.
Johnaudi wroteRyanair's Cyprus ticket is 20$, since they're no longer filling atm's here with USD, withdrawing from there, exchanging from local dealer, depositing, then cycling again. (Which is perfectly legal from my part, as I'm not the one selling it for a price different than the one set by our bank)
ROI ~20% per cycle.
Hello, just wanted to confirm that this works. (Note, do not withdraw from the airport, extremely high fees per transactions on their atms)