Currency profile

Lebanese Pound (LBP)

The Lebanese pound (LBP) is the official currency of Lebanon, historically divided into 100 piastres (now defunct). Its decades-old peg to the US dollar collapsed during the financial crisis that began in 2019; the Banque du Liban set a new official rate of about 89,500 pounds to the dollar in 2024.

Exchange-rate regime

Fixed official rate (post-crisis). The pound was pegged at 1,507.5 to the US dollar from 1997 until that peg collapsed during the crisis that began in 2019. The official rate was devalued to 15,000 in February 2023 and then set at about 89,500 pounds per dollar, adopted as the official rate from early 2024. This is an administratively set official rate, not a free float.

The issuing central bank

Banque du Liban, established in 1963, is Lebanon’s central bank; it issues the pound and sets the official exchange rate.

History

1. 1997The pound was pegged at 1,507.5 to the US dollar.
2. 2019A severe financial crisis began, and the 1,507.5 peg progressively lost touch with the market.
3. 2023The official rate was devalued to 15,000 pounds per dollar on 1 February 2023.
4. 2024The Banque du Liban adopted an official rate of about 89,500 pounds per dollar, aligned with the market.

Coins and banknotes

One pound is divided into 100 piastres. Coins: Piastres and low-value coins are defunct; coins no longer circulate in practice. Banknotes: 1,000, 5,000, 10,000, 20,000, 50,000 and 100,000 pounds, issued by Banque du Liban.

Popular Lebanese Pound pairs

What moves it

• The official rate is administratively set by the Banque du Liban rather than floating freely.
• Lebanon’s banking crisis, since 2019, remains the dominant influence on the currency’s value and use.
• Remittances from the Lebanese diaspora, including the Gulf, are a major source of foreign currency (World Bank).

Structural facts reviewed 8 August 2026 · reviewed quarterly. Sources: Banque du Liban · World Bank. Live rates are mid-market — see our Methodology and Editorial Policy.