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BDL Drops Monthly “Sayrafa Allowance”
According to Annahar, Banque Du Liban has instructed banks in Lebanon to lower the monthly “Sayrafa allowance” to $400 per month for those exchanging Lebanese pounds to US dollars. Banks previously allowed depositors access to $500 worth.
This means that depositors who wish to exchange Lebanese pounds to US dollars at the Sayrafa rate (which is 29,800 LL) will now only be permitted to exchange a maximum of $400 from their accounts. Sayrafa’s rate remains a far cry from the parallel market rate of 37,000 LL on the dollar at the time of publishing.
BDL continues its crackdown on individual transactions in a bid to “stabilize” the Lebanese Lira that has been in a constant state of devaluation since the beginning of the crisis. Just last week, the exchange rate
This means that depositors who wish to exchange Lebanese pounds to US dollars at the Sayrafa rate (which is 29,800 LL) will now only be permitted to exchange a maximum of $400 from their accounts. Sayrafa’s rate remains a far cry from the parallel market rate of 37,000 LL on the dollar at the time of publishing.
BDL continues its crackdown on individual transactions in a bid to “stabilize” the Lebanese Lira that has been in a constant state of devaluation since the beginning of the crisis. Just last week, the exchange rate