Lebanon: Between value of national currency and reality of the dollar – [REPORT]

The state of Lebanon vs. the reality of Lebanon: two states in one. The state's standards paved the way for this paradox with the most prominent translation of the reality of the matter is perhaps the Lebanese currency and its value. 

 

The State of Lebanon operates at the exchange rate of 1,515 Lebanese Pounds for every dollar as determined by the Central Bank. In reality, however, one US dollar has an exchange rate of approximately 20,000 LBP, as determined by the black market.

 

A joint banking sector that operates on the basis of 3900 LBP pounds to the dollar lies in between these two states. 


To watch full report, please click on the video above.