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BDL Sets LL/US Exchange Rate For Non-Banking Institutions Today
This morning, the Lebanese Central Bank set the Lebanese Lira to US Dollar exchange rate at 3,625 LL for non-banking institutions that carry out electronic financial transactions. These include OMT, BOB Finance, Cash United, Money Express, and OCL.
The rate will be determined by BDL on a daily basis, and electronic exchange services will have to abide by it.
This comes after BDL’s recent controversial circular which states that non-banking institutions can no longer give out dollars to customers. Instead, they would have to settle all inward money transfers (money coming in from abroad) in Lebanese Lira at an exchange rate determined by BDL.
— Larissa Aoun (@LarissaAounSky) April 24, 2020
The rate will be determined by BDL on a daily basis, and electronic exchange services will have to abide by it.
This comes after BDL’s recent controversial circular which states that non-banking institutions can no longer give out dollars to customers. Instead, they would have to settle all inward money transfers (money coming in from abroad) in Lebanese Lira at an exchange rate determined by BDL.
