LEBANON

(LBP) Currency News >>

CURRENCY:

Lebanese Pound - LBP, Symbol L£

DENOMINATIONS:

NOTE: L£100,000, 50,000, 20,000, 10,000, 5,000, 1,000, 500, 250, 100, 50, 25, 10, 5 and 1.

COIN: L£500, 250, 100 and 50.

US DOLLAR ACCEPTED?

Yes, in some shops.

CREDIT/DEBIT CARDS AND ATMS:

All major credit cards are easily and widely accepted in Lebanon. ATM machines are more widely found in larger cities.

CURRENCY EXCHANGE:

This is easiest conducted at one of the many bank in Beirut, but there are also authorised exchange offices which can offer this service.

TRAVELLER'S CHEQUES:

These are not recommended - they can take up to two weeks to clear in Lebanon and only certain types will be accepted at larger banks.

BANKING HOURS:

Mon-Fri 0830-1600 Sat 0800-1300.

CURRENCY RESTRICTIONS:

Gold coins must be declared on arrival.

COUNTRY OVERVIEW:

Lebanon's official name is the Republic of Lebanon or the Lebanese Republic. This country is located in West Asia and is on the Mediterranean Sea. Lebanon has experienced a long period of civil war - the Lebanese Civil War spanned from 1975 to 1990. Since then some stability has returned to most of the country, even despite a year of war in 2006. The capital is Beirut and the official language is Arabic - though Armenian, English and French are also widely spoken.

POPULATION:

Around 4 million.

ECONOMY:

Lebanon was a prosperous country whose main economic sectors were based around agriculture, banking and tourism until the Civil War and the Lebanon War (mentioned above). The country is in a good process of reviving its economy and government but the situation remains tricky. The work force is mainly highly skilled. There are not much in the way of raw materials in Lebanon which means it relies entirely on Arab countries for oil. Tourism is still an important factor - there are many World Heritage Sites in Lebanon and the climate is appealing.