I’ve seen a lot of websites and even a mobile app pop up in the past weeks, showcasing the fluctuating LBP rates exchange by the day and even by the hour. The likes of LebaneseLira.net, LebaneseLira.org, Lirarate.com and others all pretend to derive prices from local exchangers and compute the average.
There’s no such thing as crowdsourced data and reliable sources when it comes to the Lebanese Lira, especially when the market is being run by the exchangers’ mafia. These websites are not helping, and in some cases, are making things worse by giving a platform to these exchange offices and allowing them to manipulate the market anyway they want. Even worse, and this is not far-fetched, I wouldn’t be surprised if some of those running these websites are plotting with the exchangers to raise or lower prices.
The real rate is fluctuating by the day due to manipulative strategies and not just high demand. Don’t play their game, don’t buy & sell your dollars thinking you’re making more money, especially when inflation is skyrocketing. Those who need dollars to pay their suppliers don’t need websites to check the rates, and those who are exchanging dollars at the real rate to make more Lebanese Pounds are pretty much screwing business owners desperately looking for dollars to get their products/shipments.