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EXCHANGE RATES in Lebanon country , BLACK MARKET, SAYRAFA ,BDL - take the quiz

A detailed illustration of Lebanese currency, showcasing the differences between official and black market exchange rates, with elements representing the Central Bank and economic challenges.

Understanding Lebanon's Currency Exchange

Test your knowledge about exchange rates in Lebanon, including official and black market rates, the role of Sayrafa, and the impact of the economic crisis.

10 engaging questions
Learn more about Lebanon's financial landscape
Challenge yourself and see how much you know

10 Questions2 MinutesCreated by CurrencyExpert42

What is the official currency of Lebanon?

Euro

Lebanese Pound

US Dollar

British Pound

What is the current exchange rate for USD to LBP as of August 2021?

6. What is Sayrafa in Lebanon's black market?

A type of illegal drug

An underground network of smugglers

A money changer

A secret society

Which organization regulates the exchange rate in Lebanon?

International Monetary Fund

World Bank

Central Bank of Lebanon (BDL)

United Nations

What is the current black market exchange rate for USD to LBP as of August 2021?

What is the penalty for operating a black market currency exchange in Lebanon?

A fine of up to $10,000

Imprisonment for up to 5 years

Community service

Public shaming

Which country is Lebanon's largest trading partner?

United States

France

China

Syria

What is the role of the black market in Lebanon's economy?

It provides access to foreign currencies when official channels are limited or restricted

It contributes to inflation by driving up prices

It helps stabilize the exchange rate

It supports illegal activities such as money laundering

What is the purpose of Sayrafa in Lebanon's economy?

To provide a legal and regulated way to exchange foreign currencies

To support the black market by providing unofficial exchange rates

To facilitate international trade

To launder money

How has the economic crisis in Lebanon affected the exchange rate?

The official exchange rate has remained relatively stable

The black market exchange rate has skyrocketed

Foreign currency reserves have depleted

Inflation has increased

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