sero wroteJohnaudi wroteSteps would be as follows: Go to cyprus, withdraw from ATMs there, come back, go to the 'serraf' and get LBP at a higher rate (which is illegal by his part), deposit them back at the bank. Repeat..
I don't think its feasible. let's say:
Around 6% fees
Exchange rate 1507
The limit is 1000$/day
If you withdrew 1000$, it will cost you 1,597,420 LBP (1000+6%*1507)
Add to that the expenses (airplane ticket, taxi...). Let's say its 100$ only
so your total cost is 1,597,420+150,700= 1,748,120 LBP
sarraf will give you 1,800,000 LBP for the 1000$ so you will win ~50,000 LBP. Not worth the energy and time spent.
The cheapest round trip ticket is 20$, of which you stay 3 days in Cyprus. For the cheapest trip you gain 100$, extending your round trip leads to higher amounts. Limiting it to 7 days gets you 7000$ in your pockets (hence no problem with customs).
deduct ticket (30$) + 6 nights (6 * 25$) = 180$. (6820$ * 0.94) * 1800L.L = 6410.8$ * 1800L.L = 11,539,000L.L
7000$ * 1500L.L = 10,500,000L.L
Profit of 1,000,000L.L per week.
And the longer you stay, the more you are able to make, yet this is assuming the Lira stays the same or higher as the black market price.
This is also assuming that your cards have a summed limit of 1000$, and that you have enough in each of your card accounts.