The State of the Lebanese Pound

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  • CrusaderV

    CrusaderV

    Well-Known Member
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    Raficoo

    Raficoo

    Well-Known Member
    more like

    THE ABSOLUTE STATE OF THE LEBANESE POUND




    BEIRUT: The Lebanese pound failed to regain ground against the dollar Monday after a surge in exchange rates at the end of last week.
    The pound was trading as high as L.L.2,500 Monday afternoon at exchange shops in Beirut and Zahle. The Lebaneselira.org database of exchange rate prices, meanwhile, registered an average of L.L.2,450 to the dollar Monday.
    Black market exchange rate prices toward the end of last week peaked at around L.L.2,490 to the dollar. The surge in rates coincided with Middle East Airlines’ announcement that it would begin accepting payment in dollar only.
    The Lebanese pound is officially pegged to the dollar at a rate of L.L.1,507.5 but rates have soared as dollar liquidity in the market has evaporated in recent months.


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    Oh, also it just climbed up to 2,550 on a US:Lira exchanger info app
     
    Picasso

    Picasso

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    it is about time to let the dollar officially float.
    I disagree. What about the current loans in dollars? We still pay in the bank 1,515 LL for one dollar.

    You can criticize Riad Salameh, but keeping the dollar officially at 1,515 is saving us from more disastrous consequences!
     
    shadow1

    shadow1

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    At last I can finally say I am a billionaire in a currency other than than the Zimbabwean. Feels great to be a billionaire and well my way to become a multi billionaire. Who would've thought? A poor peasant like me. I finally made it.
     
    Danny Z

    Danny Z

    Legendary Member
    I disagree. What about the current loans in dollars? We still pay in the bank 1,515 LL for one dollar.

    You can criticize Riad Salameh, but keeping the dollar officially at 1,515 is saving us from more disastrous consequences!
    It doesn't matter the loan are equally distributed in dollar and LBP raise one you drop the other, the effect is equal on the loan and they need to default or say what their plan is because 4 months and the people are in limbo and they are getting poore by the minute.
    What pegging the dollar and not letting people withdraw in dollar means that they are robbing the people of their money because they have to withdraw their USD at 1507 and buy back and 2500, or buy food and consumer goods for an imported price of 2500, that's official robbery .
    I just do not understand why people do not go grab salameh and hang him by the balls in the middle of the street. They keep saying shou fin na3mol well the french knew what to do in 1789. If the government doesn't let the dollar float then the government is complicit too, they should be all sent to the guillotine. But the people can't be trusted, actually they elected these clowns and the clowns know that they have the population support so they won't change their means. However they will all sink because there is no IMF running to help anybody if nothing changes, they said it clearly. So the people need to take matters in their hands or the whole boat is sinking
     
    Venom

    Venom

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    It is impossible for the dollar to be kept at 1500s level.
    lebanon has no economy, exports are nothing. it was always built as a service center. Unfortunately, the real the crisis has not started yet.
     
    Big Brother

    Big Brother

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    something to keep in mind

    The country is ruled by a terrorist sponsored by Iran (enemy of the US) and his Christian lackey whom he uses as cover to occupy and usurp power in the State.

    It is only a matter of time US Department of State designates Lebanon as a State sponsor of terrorism. I feel sorry for all the Lebanese expats (non-terrorist supporters/sympathizers) who have to share a nationality with these Iranian terrorists and now will have their reputations, livelihoods, and children negatively impacted 🤮🤮🤮.
     
    CrusaderV

    CrusaderV

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    !Aoune32

    !Aoune32

    Well-Known Member
    أفادت مصادر مصرفية ان عدداً من البنوك أصبحت على قاب قوسين او أدني من الشروع بضخ الدولار في الأسواق المحلية خلال الأسابيع القليلة القادمة عبر الصرفات الالية "ATM" وبسحوبات تفوق السقوف المسموح بها حالياً في محاولة لاستعادة ثقة المودعين ولتحريك العجلة الاقتصادية.

     
    SeaAb

    SeaAb

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    Staff member
    Super Penguin
    Official inflation for January 2020 - yearly change is 10%. Between Sep. 2019 and Jan. 2020 - food prices rose by 19%.
     
    Nonan

    Nonan

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    It doesn't matter the loan are equally distributed in dollar and LBP raise one you drop the other, the effect is equal on the loan and they need to default or say what their plan is because 4 months and the people are in limbo and they are getting poore by the minute.
    What pegging the dollar and not letting people withdraw in dollar means that they are robbing the people of their money because they have to withdraw their USD at 1507 and buy back and 2500, or buy food and consumer goods for an imported price of 2500, that's official robbery .
    I just do not understand why people do not go grab salameh and hang him by the balls in the middle of the street. They keep saying shou fin na3mol well the french knew what to do in 1789. If the government doesn't let the dollar float then the government is complicit too, they should be all sent to the guillotine. But the people can't be trusted, actually they elected these clowns and the clowns know that they have the population support so they won't change their means. However they will all sink because there is no IMF running to help anybody if nothing changes, they said it clearly. So the people need to take matters in their hands or the whole boat is sinking
    What do you expect when you have people applauding PSP thugs just because they are Druze and hate Christians , others who support Hariri just because they are sunnites and others that clap for Amal thugs etc.
    The Lebanese don’t deserve better
     
    Dr. Strangelove

    Dr. Strangelove

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    معلومات موقع
    mtv:
    اجتماع سيعقد غداً بين حاكم مصرف لبنان ووفد من نقابة الصيارفة لمتابعة التعميم الذي صدر عن سلامة بشأن تثبيت سعر صرف الدولار
     
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