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William Daou 26 Sep 2022

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