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The official rate was increased by a multiple of 9.95 on 1 February 2023 as per decision of the central bank to reach LL 15,000 per USD. [27] Lebanon's Central Bank's "Sayrafa" rate = LL 86,400 (May 2023). [28] The Sayrafa rate is the rate the central bank redeems international credit and debit card payments.
Bundles of Lebanese pound banknotes, their value now drastically reduced. The Lebanese liquidity crisis is an ongoing financial crisis affecting Lebanon, that became fully apparent in August 2019, and was further exacerbated by the COVID-19 pandemic in Lebanon (which began in February 2020), the 2020 Beirut port explosion and the Russian invasion of Ukraine.
Economic recovery has been helped by a financially sound banking system and resilient small- and medium-scale manufacturers, with family remittances, banking services, manufactured and farm exports, and international aid as the main sources of foreign exchange. [38] Lebanon's economy has made impressive gains since the launch of "Horizon 2000 ...
According to Al Jazeera, the Lebanese pound on Thursday plummeted to a new rate of more than £L7,000 to the dollar on the black market. Following the protests that erupted, President Michel Aoun on Thursday held a national meeting with Lebanon's top politicians, in fear of further escalation of the protests into a civil war.
Ansariyah, Ansariyeh, or Insariye (Insârîyé) (Arabic: الأنصارية) is a municipality in South Governorate in Lebanon, 62 km from Beirut and 20 km south of Sidon. The area is 7.35 km² and is situated near the sea facing it from an altitude of 144 m.
Daher's political positions have revolved around Lebanon's economy, warning against an impending economic collapse if the political establishment did not effect reforms. Lebanon's economy collapsed in October 2019 due to its heavy debt, corruption, reliance on remittances and the banking sector, and lack of productivity.
UAE Exchange (Arabic: مركز الإمارات العربية المتحدة للصرافة; Markaz Al'Imarat Alearabiat Almutahidat Lilsarafa) is a United Arab Emirates-based company dealing primarily in remittance, foreign exchange and bill payment services. [1] [2] [3]
GCC Exchange received the Fastest-Growing Remittance Award in 2017 in the UAE at the 5th Annual International Finance Awards Ceremony. [13] [14] [15] It also received the Best Exchange House Award in Dubai at 2018. [16] GCC Exchange is also connected to all major banks of the world through Swift Accounting. [17]