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Two functional "official" exchange rates in #Lebanon. The ~1500 LBP/USD of banks and the ~2000 LBP/USD of exchange houses. Venezuela 2014. Let me elaborate 👇
@GinoRaidy @LeNajib @Beirutspring @dan_azzi @LebaneseLira
@GinoRaidy @LeNajib @Beirutspring @dan_azzi @LebaneseLira
In 2014, Venezuela had 3 official exchange rates, plus the black market rate, called CADIVI (6.4 BsF/USD), SICAD 2 (13.5/$), SIMADI (200/$) and "DolarToday" black market (250+ /$). SICAD2 was already dysfunctional, let's discard it.
CADIVI, our 1500: You go to the bank, tell them here are 100$, you'll get without any problem 640 BsF, which are actual 3$. Would you give your 1$ for 1500LBP? No. CADIVI was only used for essential imports (flour, oil..). Banque du Liban is securing the 1500 rate for oil, meds..
