You know how you go to most countries and either change money, or use your card, or an ATM to get money, well Lebanon is not like that, like at all. So, money in Lebanon, how does it work?
To read if it is safe to go to Lebanon click here.
Lebanon has rampant inflation
Many countries have inflation, sometimes rampant inflation, but what most do, such as Syria, or Sudan is just roll with it. Alas not in Lebanon, like a communist state they have the official rate, which they are sticking to and the black market rate, which is how people live.
To read about money in North Korea click here.
This means that people get paid in the (bad) official rate and if you use a credit card, or an ATM you get the bad rate. Again not dissimilar to good old Soviet times, except sadly without many communist bits.
Do I need to bring cash to Lebanon?
You must bring cash to Lebanon for spending.
You may bring EUR, GBP or USD into Lebanon and exchange them at cash exchange kiosks which are found all over. Always check the daily rate by using the link below to ensure you’re getting the correct exchange. In most places, you can use USD directly.
Do not use ATMS or pay for anything with your bank card in Lebanon as you will be charged the official rate which was previously 1,500 Lebanese Pound to $1USD. The Lebanese economy is one of the worst in the world and their local currency is losing value each month.
You can check current rates of the Lebanese Pound here: https://lirarate.org/
Can I use credit cards in Lebanon?
No, you cannot. This includes apps like Uber who’ll charge your card. Although with that being said you can use cards in more upscale establishments such as hotels or fine dining, who will bill you directly in USD.
And that is the story of money in Lebanon, the world might slowly being going cashless, but alas Lebanon is not one of those places right now.
Join us on our group tours to Lebanon.
About Post Author
