Lebanese money. Currency of Lebanon
The current currency of Lebanon is called the pound. This currency is little known outside the country. It is not in high demand among traders. But tourists who want to come to Lebanon need to know about the Lebanese pound.
Description
The international code designation consists of three letters LBP. Previously, one Lebanese pound contained 100 piastres, but due to high inflation rates, this division had to be abandoned. Bank of Lebanon is in charge of issuing banknotes.
Now in the country there are metal coins in denominations of 25, 50, 100, 250 and 500 pounds in circulation. Paper notes are also widely used in denominations of 1000, 5000, 10 thousand, 20 thousand, 50 and 100 thousand pounds.
Coins are made from nickel, brass and bronze. The 25-pound coin is minted from nickel-plated steel. The inscriptions on all the money in the country are printed in Arabic, previously duplicated in French, since the state was under the auspices of France for several decades.
History of the currency of Lebanon
During the period when the country was part of the Ottoman Empire, the Turkish pound was used as a means of payment. After the defeat of the Ottomans in the First World War and the collapse of the empire in 1918, Lebanon was ceded to France. On the territory of the country, they began to use the French pound as a secondary state currency.
In 1943, the Middle Eastern country gained independence from France. The government of the newly-made republic agreed with the leadership of the former metropolis on the use of the French franc. Five years later, as a result of financial reform, the Lebanese pound was introduced into circulation. This currency is still used throughout the state.
The exchange rate of the Lebanese pound against the ruble and other currencies
The Lebanese currency is one of the cheapest in the world. Moreover, it continues to lose value due to problems in the economy. As of October 7, 2018, the Lebanese currency against the ruble is approximately 0.04. That is, for one pound you can get about 4 kopecks. One ruble contains almost 23 LBP.
When compared with the US dollar, the situation is even more deplorable. One USD contains approximately one and a half thousand LBP. That is, for one pound they give about 0.0006 dollars.
The situation is similar with other world currencies: euro, British pounds.
Exchange operations and cashless payments
Lebanon is a fairly modern country, so there are no particular problems with cashless payments. Cards are accepted in large stores, restaurants, hotels and shopping centers. However, it will be more difficult to pay by bank transfer in the city market, in taxis or street eateries. It is necessary to prepare enough cash.
Find an ATM to withdraw money big city won't be difficult. But outside the tourist routes, it is almost impossible to do this.
It is best to come to the country with American dollars or euros. Other banknotes change will be more difficult. In some banks, exchangers work with the currencies of neighboring Arab countries. It is undesirable to take rubles with you, because to find a place where you will change Russian currency, is extremely difficult. It also makes no sense to come with money from other countries of the world, for example, yuan or Canadian dollars, since local banks and exchange offices do not work with them. Even if you manage to find a place where money, which is rare for this country, will be exchanged, the commission for such an operation will be very large.
Conclusion
The currency of Lebanon is popularly referred to as the lira or livre, by analogy with neighboring Turkey. Historical factors also played a role in this. Despite the fact that the state is quite stable in economic terms, the war in neighboring Syria has a strong impact on the situation in Lebanon. In particular, because of this, the course of the national monetary unit is declining at a rapid pace.
It also affects the lack of a strong industry and popularity among tourists. The government of the country and big business are doing everything possible to strengthen the financial position of the state. One of priority areas is tourism, which can favorably affect the cost official currency republic, strengthen it.
History
The monetary unit of Lebanon is the Lebanese pound. Also, this currency is called "livre" or "Lebanese lira". Previously, the currency was divisible and equal to 100 piastres, but due to too low a cost change unit it has now been abandoned. At a time when Lebanon, along with Syria, was part of the Ottoman Empire, the Turkish pound was used as a monetary currency in the country. In 1918, the empire collapsed, and the Turkish pound was replaced by the Egyptian counterpart. Thus, the Egyptian pound was pegged to the pound sterling. Turkey was defeated in the First World War, while Lebanon, after these events, went to France as part of the Syrian mandate. At the same time, the Syrian pound began to be used on the territory of the state, and the French pound was used as a parallel currency. This continued until 1941. In two years, the country will gain independence and conclude a monetary agreement with the French authorities on the use of the franc of this country. In another five years, Lebanon will hold a new monetary reform, which will return the Lebanese pound. Currently, coins of five denominations and banknotes of six denominations (from 1,000 to 100,000) of the Lebanese pound are in circulation. The issuing bank of the currency is the Bank of Lebanon. In addition to the Lebanese pound, US dollars and euros are accepted for payment in the country. If you need local money, then you can exchange it almost everywhere, including private money changers.
Banknotes.
Lebanese pound is the official money currency, which is in Lebanese circulation. This is the common name. The people of Lebanon themselves call their money livres. Sometimes this money is also called Lebanese lira. The Lebanese livre has an international species designation LBP. Previously, one Lebanese livre was equal to 100 piastres. But in the country, such a division was completely abandoned after inflation. Now the following banknotes are in circulation in Lebanon: 1000, 5000, 10000, 20000, 50000, 100000 Lebanese liras. Also in the monetary circulation of this country there are coins in denominations of 25, 50, 100, 250, 500 pounds of Lebanon. The issuing bank of this money is the Bank of Lebanon.
In 2001, new banknotes were issued, which do not differ much from previous copies. They have only additional signs of protection. In addition, holographic stripes appeared on some banknotes. Lebanese pound notes are also known to have a cedar watermark and a special security thread to the right of the center of the note. By the way, apart from national currency, both the euro and the United States dollar are accepted almost everywhere in Lebanon. Change in stores there is given both in local, and in European, and in American currency. Sometimes it happens that tourists do not even have to change dollars or euros upon arrival in Lebanon. If there is a need to exchange currency, then this can be done anywhere: in shops, and in banks, and in hotels, and in numerous exchange offices, and even at private "changers". Most favorable exchange rate, of course, from private "changers".
What is the value of the Lebanese livre? For now one Lebanese livre equals 0.041195 RUB.
1 Russian ruble equals 24.24 LBP(Lebanese pound).
1 Lebanese livre is $0.000664.
The table below shows the exchange rate of the Lebanese pound to the ruble.
date of | Course (rub.) |
01.06.2018 | 0,041195 |
30.05.2018 | 0,041406 |
29.05.2018 | 0,041295 |
28.05.2018 | 0,041116 |
27.05.2018 | 0,041127 |
Previously, one Lebanese pound was equal to 100 piastres, but due to inflation in the country, such a division was abandoned. International designation of the Lebanese pound in accordance with international standard ISO 4217 - LBP.
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Departure from Moscow
The vast majority of tourists take off on a direct regular flight Moscow - Beirut airlines "Aeroflot" from the airport "Sheremetyevo-2". Travel time is about 4 hours.
Very important: Check-in starts 2 hours before flight departure and ends 40 minutes before departure. The recommended arrival time at the airport is 2 hours 15 minutes before departure. Please carefully calculate the time of your trip to the airport - in case of no-show for the flight, neither our company nor the host in Lebanon bears any responsibility for the losses of passengers who did not take off on time from Moscow.