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Chaotic night for telecom customers as BDL raises Sayrafa exchange rate
News Bulletin Reports
2023-03-02 | 10:23
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Chaotic night for telecom customers as BDL raises Sayrafa exchange rate
On Wednesday evening at 8:15 pm, Lebanon's Central Bank announced a decision to raise the Sayrafa exchange rate from approximately 45,000 Lebanese pounds to 70,000. The sudden move caused widespread confusion and frustration among consumers who rushed to pay bills and purchase items before the new exchange rate took effect.
Many people turned to electronic payment platforms like the apps of telecom companies Alfa and Touch, only to find that they were either not functioning at all or not allowing payments to be made at the old exchange rate. Some individuals were able to pay their bills using banking apps that still allowed payments at the old rate.
The situation led to a heated debate on Twitter, with some accusing Alfa and Touch of intentionally shutting down their platforms to pressure consumers into accepting the new exchange rate. Others argued that the high volume of users caused the websites and apps to crash.
In response, sources from Alfa and Touch stated that the high volume of users exceeded the capacity of their servers, resulting in slow response times and crashed websites.
Regardless of the cause of the website crashes, the larger issue is the manner in which the exchange rate was changed without proper preparation for citizens. This is not the first time that the Central Bank has made sudden changes to the exchange rate, causing confusion and frustration among the Lebanese people.
In the end, some people were able to pay bills and make purchases at the old exchange rate, while others were forced to pay at the new rate. The situation highlights the need for the Central Bank to implement a more transparent and consistent approach to changes in the exchange rate, to avoid further chaos and frustration for Lebanese citizens.
News Bulletin Reports
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