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rolf wrote
VincentKeyboard wrote It didn't go anywhere.
Yes it did!
For example if Lebanon printed money to fund the budget deficit then this is where some of it would have went.
I see what you mean now.
Civilian-wise, people simply didn't have as much in terms of value when it went up to 3000 but were relieved financially a bit when it went down to 1500. And as you may know there was excessive illegal activity when it reached 3000. People started stealing and selling copper wires. I lived in Saifi area back then. Pretty much everyone had guns.

However, since the government had to print more money to cover the loss as a result of devaluation to 3000, they likely printed more than they needed and kept a lot.
Kareem wrote
No it's not that it's fluctuating... the currency lost more than half its value.

https://i.gyazo.com/5e97126a8cde96852bf413b9463dfe19.png

Anyway I'm not gonna go off topic but long story short, they messed up but we did even more. The situation is very similar IMO to Venezuela.

Banks are playing the game slowly. Everyday they come up with new rules and new restrictions. Why not open up and admit that they don't really have people's money ? I can assure you that BDL and the banks don't have most of our cash.
Ok, that's bad what happened in September 2016 in your graph. But it is stable now though? And even if it weren't, I wish Lebanon would not follow the example of turmoil.

I'm not sure what to suggest about the banks but I agree with you there. They obviously don't have the cash.
nas93 wroteAnyone recently exchanged $ to LBP at the sarraf? What are the rates?
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Today, at 1770 (sold USD)
So nobody knows if we can use debit cards (LL) in Europe now?
infiniteloop wroteSo nobody knows if we can use debit cards (LL) in Europe now?
I have VISA Platinum credit and debit card from BoB... I called them today but they said nothing changed so far. It's still in USD.

Sorry but I can't tell you if it's going to work in Europe but if you happen to find out, let us know.
sero wrote
Hybrid wroteMany banks are giving only $500 per day, and most probably starting tomorrow, you can't withdraw in $$$ anymore.
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Source?
Do you mean withdraw from the counter or ATM?

I have several friends/relatives in the bank sector that ensured $$ will still be provided in ATMs like forever, but with a limitation on withdrawal (per day and per month)
You're talking about last week,this week it went downhill pretty fast.

Source: personal experience

Sgbl removed the USD completely from their ATMs starting last Saturday, and no it's not because the ATM doesn't have USD like some would say. It used to run out of USD before but the button was there. At the counter, $500 was the max number today and the teller said no more dollars for people starting tomorrow, and they did confess that they aren't putting any $$$ in ATMs anymore.

Audi gave my friend only $500 today and said that's the limit, and their ATMs dont have any $$$ since Tuesday even though they keep saying they are filling them.

BoB are probably the worst, I can't even withdraw LBP from most of the ATMs, i have a card with 200,000 lbp and I tried 4 different ATMs yesterday and today and all were empty, I didn't try to go inside though.

A video went viral about byblos bank today, not sure of its authenticity but most probably it's real.

Try getting inside a bank, people are madddd, and the queue is so long.
VincentKeyboard wrote
However, since the government had to print more money to cover the loss as a result of devaluation to 3000, they likely printed more than they needed and kept a lot.
At a basic level, printing money and putting it in circulation causes devaluation, because of the law of offer and demand.

So it they were doing that as a result of devaluation then it is a self-reinforcing cycle.

The devaluation happens after the newly printed money is used.

However after while people realize that their currency is devaluating and they stop using it, reducing demand and causing further devaluation.
lets try to keep track of the fluctuation in exchange rate on a daily basis in this thread.

I think it is around 1,800=1$ today
sero wrote
nas93 wroteAnyone recently exchanged $ to LBP at the sarraf? What are the rates?
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Today, at 1770 (sold USD)
Thank you!

Agree with xerxes, anyone exchanging USD please let us know.
1820-1850 at 6pm in Tripoli
If you want to withdraw LP from a dollars account in a bank, what are their exchange rates?
VincentKeyboard wroteIf you want to withdraw LP from a dollars account in a bank, what are their exchange rates?
they use the "official" rate 1 usd = 1507 lbp aka they buy your 1$ for 1507 lira while exchange shop should give you about 1750 lira for your 1$


only withdraw lbp from usd account if you REALLY need the money for emergency, otherwise wait till banks start letting people to withdraw usd
karimo wrote
VincentKeyboard wroteIf you want to withdraw LP from a dollars account in a bank, what are their exchange rates?
they use the "official" rate 1 usd = 1507 lbp aka they buy your 1$ for 1507 lira while exchange shop should give you about 1750 lira for your 1$


only withdraw lbp from usd account if you REALLY need the money for emergency, otherwise wait till banks start letting people to withdraw usd
Ok, good. That's a relief. I don't want banks to start going over the official rate.
That's not good, it is good if you have a 10$ loan and the bank accepts 15000LL but they are not. Many clients have reported banks force them to bring USD. But when it is time for the USD client to get usd they say sorry here is lira.
Nothing is good right now, if you can transfer your savings do it.
dsoftware.king wroteDoes anyone know the exchange rate today?
I came here to ask the same question. No one is willing to give me the rate today.