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New Official Exchange Rate In Lebanon As Of November

The Minister of Finance in Lebanon’s caretaker government Youssef Khalil has revealed to Reuters that a new official exchange rate is to be set in Lebanon as of the end of October 2022, effective beginning of November.

The new exchange rate is: 15,000 LL per USD.

This is the same exchange rate that was set to be applied for customs taxes.

While this is a ten-fold adjustment to the existing exchange rate, it is still a far cry from the parallel market rate of 38,000 LL on the dollar at the time of publishing.