LebGeeks

TigerFox

Member

Re: Lebanese lira to USD exchange

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.

I dont think they buy LBP , it is probably from the money exchanged  by Lebanese toursits to Turkey currency. I dont see any other reason , correct me if I am wrong. The fact that they allow the exchange of USD to LBP at a rate higher than Lebanon's actual rate is not out foolishness. There should be a policy or something , otherwise , everyone would be doing it until it is no more.

Ari

Member

Re: Lebanese lira to USD exchange

guys do you know any website that can give me the unofficial rate of the Lebanese lira (the black market)? i need it for a project. i am creating a dashboard showing the unofficial and the official rate together day by day. any help would be appreciated as it is my end of semester project and it is due to 19/December

Adnan

Member

Re: Lebanese lira to USD exchange

guys do you know any website that can give me the unofficial rate of the Lebanese lira (the black market)? i need it for a project. i am creating a dashboard showing the unofficial and the official rate together day by day. any help would be appreciated as it is my end of semester project and it is due to 19/December

Business news. Com. Lb

Lebaneselira. Org

Ari

Member

Re: Lebanese lira to USD exchange

thank you adnan, you have saved me from getting an F!! i have searched for hours but was not able to obtain any of these websites.

Tech Guru

Member

Re: Lebanese lira to USD exchange

guys do you know any website that can give me the unofficial rate of the Lebanese lira (the black market)? i need it for a project. i am creating a dashboard showing the unofficial and the official rate together day by day. any help would be appreciated as it is my end of semester project and it is due to 19/December

Download this app which I found it the most convenient , frequently update ,  and easily accessed.

https://play.google.com/store/apps/deta … ncylebanon

Guitaret

Member

Re: Lebanese lira to USD exchange

Just sold USD @Jounieh (near BDL) for 1990LL

TheIlluminative

Member

Re: Lebanese lira to USD exchange

So I will be in Istanbul this weekend, any idea how to exchange $$ to L.L? I am trying to get $$ everyday from ATM's here. But I am being limited to only $150/day :( Still better than nothing!

potato

Member

Re: Lebanese lira to USD exchange

checkout lebaneselira.org rate is expected to hold until December 20, 2019 when the new lira notes arrive from brazil.
what does that mean is the rate going down or up ? after december 20 ?

rolf

Member

Re: Lebanese lira to USD exchange

Are Lebanese banknotes printed in Brazil (now)?
I found mention that some were printed in Russia and some in Sweden.

Last edited by rolf (December 17 2019)

sero

Member

Re: Lebanese lira to USD exchange

checkout lebaneselira.org rate is expected to hold until December 20, 2019 when the new lira notes arrive from brazil.
what does that mean is the rate going down or up ? after december 20 ?

$$ to LBP rate should rise since supply of LBP will increase (so $$ will be more rare compared to LBP).

Tech Guru

Member

Re: Lebanese lira to USD exchange

So I will be in Istanbul this weekend, any idea how to exchange $$ to L.L? I am trying to get $$ everyday from ATM's here. But I am being limited to only $150/day :( Still better than nothing!

Checkout exchangers at Istiklal Cadessi. The 100,000 LBP being exhanged in Istanbul for 23 USD. They take USD but not LBP.

100,000/23 ~ 4500 LBP for each 1 USD
100 USD there ~ 450,000 LBP

Istanbul needs to impose control, else local exchanges here will make fortunes "  illegally"  , local exchanges are taking LBP for USD @ 2000 (now) ,  They buy the 100 USD  and give 200,000 LBP. They take the 100 USD Exchange at Istanbul @ 450,000 LBP

Profit for each 100 USD they make 450,000 - 250,000 =  150,000 LBP. Assume they got 1000 USD ,  1000× 150,000 = 1,500,000 LBP profit.

Last edited by Tech Guru (December 17 2019)

MAS

Member

Re: Lebanese lira to USD exchange

So I will be in Istanbul this weekend, any idea how to exchange $$ to L.L? I am trying to get $$ everyday from ATM's here. But I am being limited to only $150/day :( Still better than nothing!

Checkout exchangers at Istiklal Cadessi. The 100,000 LBP being exhanged in Istanbul for 23 USD. They take USD but not LBP.

100,000/23 ~ 4500 LBP for each 1 USD
100 USD there ~ 450,000 LBP

Istanbul needs to impose control, else local exchanges here will make fortunes "  illegally"  , local exchanges are taking LBP for USD @ 2000 (now) ,  They buy the 100 USD  and give 200,000 LBP. They take the 100 USD Exchange at Istanbul @ 450,000 LBP

Profit for each 100 USD they make 450,000 - 250,000 =  150,000 LBP. Assume they got 1000 USD ,  1000× 150,000 = 1,500,000 LBP profit.

can you clarify what do you mean by "They take USD but not LBP. "?
they are only selling LBP , but not buying it? if that's the case, then from where they are getting the LBP paper note from ?

TheIlluminative

Member

Re: Lebanese lira to USD exchange

And why do I need to sell my LBP for low $$ if I can sell it in Lebanon for a better rate?

potato

Member

Re: Lebanese lira to USD exchange

So I will be in Istanbul this weekend, any idea how to exchange $$ to L.L? I am trying to get $$ everyday from ATM's here. But I am being limited to only $150/day :( Still better than nothing!

Checkout exchangers at Istiklal Cadessi. The 100,000 LBP being exhanged in Istanbul for 23 USD. They take USD but not LBP.

100,000/23 ~ 4500 LBP for each 1 USD
100 USD there ~ 450,000 LBP

Istanbul needs to impose control, else local exchanges here will make fortunes "  illegally"  , local exchanges are taking LBP for USD @ 2000 (now) ,  They buy the 100 USD  and give 200,000 LBP. They take the 100 USD Exchange at Istanbul @ 450,000 LBP

Profit for each 100 USD they make 450,000 - 250,000 =  150,000 LBP. Assume they got 1000 USD ,  1000× 150,000 = 1,500,000 LBP profit.

If thats the case. Im pretty sure that lbp cash they are selling is liquidate money and not legit from the government.

rolf

Member

Re: Lebanese lira to USD exchange

With all due respect and love; what the hell is:

liquidate money and not legit from the government

Tech Guru

Member

Re: Lebanese lira to USD exchange

And why do I need to sell my LBP for low $$ if I can sell it in Lebanon for a better rate?

You can go with USD and get 450,000 LBP for the 100 USD ,  100,000 LBP there is for 23 USD or 1 USD =  450,000.

Last edited by Tech Guru (December 17 2019)

Tech Guru

Member

Re: Lebanese lira to USD exchange

So I will be in Istanbul this weekend, any idea how to exchange $$ to L.L? I am trying to get $$ everyday from ATM's here. But I am being limited to only $150/day :( Still better than nothing!

Checkout exchangers at Istiklal Cadessi. The 100,000 LBP being exhanged in Istanbul for 23 USD. They take USD but not LBP.

100,000/23 ~ 4500 LBP for each 1 USD
100 USD there ~ 450,000 LBP

Istanbul needs to impose control, else local exchanges here will make fortunes "  illegally"  , local exchanges are taking LBP for USD @ 2000 (now) ,  They buy the 100 USD  and give 200,000 LBP. They take the 100 USD Exchange at Istanbul @ 450,000 LBP

Profit for each 100 USD they make 450,000 - 250,000 =  150,000 LBP. Assume they got 1000 USD ,  1000× 150,000 = 1,500,000 LBP profit.

can you clarify what do you mean by "They take USD but not LBP. "?
they are only selling LBP , but not buying it? if that's the case, then from where they are getting the LBP paper note from ?

They have abundancy of LBP from Lebanese used to exchange to TL

potato

Member

Re: Lebanese lira to USD exchange

With all due respect and love; what the hell is:

liquidate money and not legit from the government

Mafia money. Drugs, criminal acts etc.. and even money printed abroad unofficially approved by the government but from same source.

rolf

Member

Re: Lebanese lira to USD exchange

Has anyone tried the Turkish exchange trick yet?

TheIlluminative

Member

Re: Lebanese lira to USD exchange

I am in Istanbul currently and I tried several exchanges offices in Istiklal, taksim, and the best one offers $1 = 1,400 LBP. And the funny thing is that he has 500,000 LBP maximum ;)

Edit: Global exchange in Turkey changed their pricing. $1 is almost 1,500 LBP now. It was 2,700 LBP before as stated somewhere in the thread few days ago!

Last edited by TheIlluminative (December 22 2019)

anayman_k7

Member

Re: Lebanese lira to USD exchange

I am in Istanbul currently and I tried several exchanges offices in Istiklal, taksim, and the best one offers $1 = 1,400 LBP. And the funny thing is that he has 500,000 LBP maximum ;)

Edit: Global exchange in Turkey changed their pricing. $1 is almost 1,500 LBP now. It was 2,700 LBP before as stated somewhere in the thread few days ago!

Can you exchange LBP for USD or are they only selling their LBP stock?

TheIlluminative

Member

Re: Lebanese lira to USD exchange

Pretty difficult. Nobody is interested in buying LBP abroad. Doesn't make sense for them. Even if you find, the rates will be much worse than in Lebanon.

Guitaret

Member

Re: Lebanese lira to USD exchange

Pretty difficult. Nobody is interested in buying LBP abroad. Doesn't make sense for them. Even if you find, the rates will be much worse than in Lebanon.

How about doing this the other way, how much will they sell it to you? Trying to make a little profile coming back to Lebanon.

Tech Guru

Member

Re: Lebanese lira to USD exchange

Lebanon  printing  9 tons of 50,000 LBP and 100,000 LBP slips is very alerting , equivelance to 13 Trillion LBP  . To put it short BDL cannot issue TB,  at least in the short run,  and let the commercial banks buy ( with interest) and give LBP to government in order to close its public sector expenditures ( including army , employees etc...). Point here , printing slips witout BDL Coverage in foreign currencies , expect further devaluation of the currency - Syrian and Iran trend. Inflation will increase with fixed salaries /  and decreased in many private sectors firms / banks. Lot of LBP have been pulled from the commercial banks by citizens saving them at home & by corrupted politics  pulling ~ 6 billion USD from local commercial banks to the outside. The real capabilities of the commercial banks are now under stress , in avoidance of further deterioration more stringent capital controls will be imposed. Further to that , government will be in a more and more stress on how it will pay its wages and spend without the coverage of commercial banks no purchasing TB due to their financial distress

Last edited by Tech Guru (December 29 2019)

rolf

Member

Re: Lebanese lira to USD exchange

Lebanon  printing  9 tons of 50,000 LBP and 100,000 LBP slips is very alerting , equivelance to 13 Trillion LBP  . To put it short BDL cannot issue TB,  at least in the short run,  and let the commercial banks buy ( with interest) and give LBP to government in order to close its public sector expenditures ( including army , employees etc...).

It is concerning. It is my understanding that printing money to cover deficit would cause inflation.
Can you share the source please?

Last edited by rolf (December 29 2019)