Reuters reported today that the Lebanese Central Bank is set to drop the 1,507 rate that has been used since 1997 and replace it with LL 15,000 for every 1 U.S dollar by the end of October.

Today’s black market exchange rate stands at LL 38,000 so I am not really sure how realistic this LL 15,000 rate is. We will wait and see how the government or the Central Bank will justify this new rate and how it will reflect on prices/salaries etc …