Exchanging money in Lebanon on the Black Market
Exchanging money in Lebanon on the black market is really easy to use and to exchange your money on. You will just need to calculate how many dollars or euros you will need for your trip. Once you arrive in Lebanon the best place to exchange your money is in the centre of Beirut.
You can do this at places like:
- Whish money
- Western Union
So if you didn’t already know Lebanon is experiencing a financial crisis at the moment. What this means is that the currency is really unstable and so it’s value fluctuates day by day. The government has set the exchange rate at 15,000 LBP to $1 but the actual official rate is way more LBP to $1, as I’m writing this the exchange rate is 120,000 LBP to $1 but this will change day by day.
The problem with the government setting the exchange rate at a fixed rate and not using the true rate is that if you try and withdraw money from an ATM or pay by card then this will charge you an astronomical amount of money compared to what you should actually pay. Therefore in order to visit Lebanon you will need to bring cash with you so you can exchange it on the black market.
There are other places but these are the ones I used. You can also buy SIM cards for a good price at Whish money. Many hostels or hotels will offer to exchange money for you as well. It is best to bring 20, 50, or 100 notes and preferably in pristine condition to exchange.
Make sure to check the black market exchange rate before exchanging your money to make sure you aren’t being scammed. The best place to look is on Lirarate you can you look here . It is also best to only exchange a small amount at a time as the rate varies so much you may lose value off the money you exchanged a few days ago.
You can also pay for a lot of things in dollars so it really is up to you how much you want to exchange but for things like bus journeys, tourist attractions and local shops you will need the Lira.
Be sure to checkout or ultimate travel guide: What to do in Lebanon: Ultimate 7-day Itinerary
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