LebGeeks

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#1 last month

yssf
Member

Question about buying 1000+ euros in Lebanon

Hello,

I am a University student that got accepted in a University in France to continue my studies. As you know it is impossible to transfer money to France once I am there, so I need to take the money in cash for the total expanses of the year, which will be between 5000 and 6000 euros.
I wanted to ask if the "sarraf" would give me such a big sum of money ? And at which rate will he transfer LBP to Euros ?
Is it possible for me to take Lebanese pounds with me to France and exchange them to Euros there ?

Does anyone here have info about currency exchanges to Euros during these days ? Any help or advice would be appreciated.

Thank you

Last edited by yssf (last month)

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#2 last month

NuclearVision
Member

Re: Question about buying 1000+ euros in Lebanon

it is not impossible to transfer money to france.
It's impossible to transfer money from an old bank account with lollars as dollars/euro to france.

The sarraf would probably have no problem exchanging such an amount given that it's what he does for a living.
The rate naturally follows the usd to lbp rate and hence is highly unstable.

Taking lbp to europe is like taking old newspaper. It barely has value inside the country...

Best of luck with your studies!

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#3 last month

samer
Admin

Re: Question about buying 1000+ euros in Lebanon

The exchange house will probably go from LBP to USD to EUR to give you a rate.

If I recall correctly, it is much cheaper to exchange USD for EUR inside Lebanon instead of abroad in Europe, as you will receive a favorable rate and low commissions. I have not bought euros for a while, so I am not sure how it is nowadays.

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#4 2 weeks ago

Salloum
Member

Re: Question about buying 1000+ euros in Lebanon

I sold some euros over the summer, obviously not the same transaction, but basically like Samer pointed out, they will have USD as a middling currency when determining the rate. Either way, you're pretty much obligated to get it done at whatever price they quote you because LBPs are worthless outside of Lebanon. And yes, the sarraf will definitely agree to sell you this amount, it's really not that big of an amount, you just need the right sarraf

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