Lebanon Business: Currency and Banking

Lebanon Business: Currency and Banking Last updated on Wednesday 21st April 2010

The unit of currency in Lebanon is the Lebanese pound (LL), known locally as the lira. There are only notes (LL 50, 100, 250, 500, 1000, 10,000) in circulation as the currency lost much of its value during the war. Most shops, restaurants and hotels will accept US dollars.

The currency fluctuates according to the international market and to political developments in Lebanon, the Middle East and the world. Most banks will only change US dollars and UK pounds in cash and travelers cheques, but moneychangers will buy and sell almost any currency.

Rates of currency exchange are quoted in daily newspapers . Tourists are allowed to bring in and take out unlimited amounts of foreign exchange , traveler cheques , personal cheques as well as letters of credit.

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