Comment Comment by ronyfadel Here’s the more correct version:Before and during the war, up until the late 80’s, 1 USD was worth 3 Lebanese pounds (LBP).In the late 80’s (war ended in 90-91) the USD reached well over 1000 LBP, and reached 2500 LBP in 1992.In 1997, the LBP was pegged to the dollar at 1 USD = 1507 LBP.Fast forward to 2020, where the banking system has started showing cracks, and there are 3 exchange rates at the moment:- Official rate: 1 USD = 1507 LBP - Banks’ rate: 1 USD = 3000 LBP - Exchanger’s rate: 1 USD = 4200 LBP (changes daily) parent ronyfadel 6 years ago
Before and during the war, up until the late 80’s, 1 USD was worth 3 Lebanese pounds (LBP).
In the late 80’s (war ended in 90-91) the USD reached well over 1000 LBP, and reached 2500 LBP in 1992.
In 1997, the LBP was pegged to the dollar at 1 USD = 1507 LBP.
Fast forward to 2020, where the banking system has started showing cracks, and there are 3 exchange rates at the moment:
- Official rate: 1 USD = 1507 LBP - Banks’ rate: 1 USD = 3000 LBP - Exchanger’s rate: 1 USD = 4200 LBP (changes daily)