Lebanon’s Central Bank Issued A New Limit For Individual Transactions

TDS

The Central Bank of Lebanon (BDL) issued a $500/month limit for every individual bank account. This comes after people were reportedly using Circular 161 to buy dollars on the Sayrafa rate to sell on the black market rate for financial profit.

This, however, does not mean that each individual can only exchange $500/month on the Sayrafa rate. People with multiple individual accounts, whether in the same bank or in multiple banks, can exchange $500 per account.

Circular 161 gives public and private sector clients the ability to exchange LBP for USD and vice versa at the Sayrafa exchange rate. People eligible to benefit from Circular 161, however, can also benefit from Circulars 158 and 151.

The Central Bank also set limits for institutions using Circular 161. It stated that any institution looking to exchange currencies using Sayrafa must present receipts and proof of customs.

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Lebanon's Central Bank Issued A New Limit For Individual Transactions

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