The price of the dollar in Lebanon today is Sunday 12 July 2020

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Economy

Al Ain newsletter
The price of the dollar fell against the Lebanese pound, on Sunday, in a very noticeable way in the informal (black) parallel market, while the exchange rates remained stable with the central bank, banks, money changers and money transfer companies.

And the Lebanese pound started a few days ago a rise against the dollar, after it had reached a record low at 9500 pounds against the dollar.

Black market

During trading this morning on the black market, the dollar fell to 6,800 pounds to buy and 7100 pounds to sell, compared to 7,250 pounds to buy, and 7,500 pounds to sell, yesterday morning.

There are no logical explanations for the dollar’s ​​decline in Lebanon, as the economic situation is getting worse, while international institutions are warning of more dramatic situations in the near future.

Lebanese media outlets believe that there is a managed “game” aimed at suggesting a rapid fall of the dollar to urge its holders to sell it, before the green coin again rises to over 15,000 pounds.

central bank

The Lebanese Central Bank established the official exchange rate for the dollar at 1507.5 liras.

This price is only applied for dollars in imports of fuel, medicine, and wheat.

Cashiers

The ATM did not issue a new rate for the exchange of the US dollar on Sunday, which means that exchange firms will continue to spend the green currency at the same level yesterday.

Yesterday, the union set the price of the dollar at 3,850 pounds to buy and 3,900 pounds to sell.

Money exchange firms do not allow the sale of the dollar at this price except under certain conditions and to pay only 4 needs, which are salaries of foreign servants, university student installments outside Lebanon, home installments, and housing rent for a student outside Lebanon, provided the documents showing eligibility are provided.

The dollar is also spent at this level for food and medical supplies companies, on terms.

Remittances

As for the exchange rates of the dollar, which are determined by the Directorate of Monetary Operations at the Central Bank of Lebanon, they have not changed this morning.

The Directorate had set, in a bulletin, on Saturday morning, the dollar exchange rate when paying cash transfers received from outside Lebanon at 3,800 pounds.

This rate of remittance dollars has been proven since last June 18, and it was recorded on June 17, 3810 pounds.

The official rate of transfers is applied to all money transfer companies in Lebanon, which are Online Money Transfer (OMT), BOB Finance, Cash United, Egyptian Money Express (MME), and Online Cash International (OCI).

Banks

In banks, the dollar scored 3850 Lebanese pounds.

For months, the Lebanese have been unable to withdraw from their accounts in dollars, while they can withdraw from them in Lebanese pounds only because of the severe liquidity crisis and the scarcity of the dollar.

And last September, banks imposed severe restrictions on withdrawing funds, especially in dollars, which angered depositors, who found themselves unable to withdraw their money after setting ceilings that gradually diminished.





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