About the Lebanese Pound
The Lebanese Pound was introduced in 1939. For decades, it was a symbol of stability, but since 2019, it has been in a state of collapse, suffering from hyperinflation and a massive loss of value.
The name 'Pound' or 'Lira' (ليرة) is derived from the Roman unit of weight, the 'libra'.
Interesting Facts
The 'Lollar'
During the financial crisis, a new term, 'Lollar', was coined to describe U.S. dollars trapped in the Lebanese banking system, which could only be withdrawn in LBP at a significant loss.
A State of Collapse
Since 2019, the Lebanese Pound has lost over 98% of its value, leading to hyperinflation, the collapse of the banking system, and widespread social unrest.
Multiple Exchange Rates
A key feature of the crisis is the existence of multiple exchange rates: the official rate, the central bank's 'Sayrafa' rate, and various black market rates, creating confusion and arbitrage.
Historical Timeline
The Lebanese Pound is established.
The LBP is pegged to the U.S. Dollar at a rate of 1 USD = 1507.5 LBP.
A severe financial crisis begins, leading to the collapse of the banking sector and the pound's value.
The official exchange rate is devalued by 90%, but multiple parallel market rates continue to exist.
Denominations
Banknotes
Security Features
Quick Facts
- ISO Code
- LBP
- Symbol
- ل.ل
- Numeric Code
- 422
- Subunit
- Piastre (1/100)
- Introduced
- 1939-01-01
Central Bank
- Name
- Banque du Liban
- Headquarters
- Beirut, Lebanon
- Founded
- 1963
- Current Governor
- Wassim Mansouri (Acting) (since 2023)
Economic Data
- Reserve Currency Share
- 0.0%
- Forex Volume Share
- 0.0%
- Inflation Rate
- 70.4%
Exchange Rates
What Affects the LBP Exchange Rate?
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