MCQ Detailed View

The official currency of Lebanon is the Lebanese Pound, commonly abbreviated as LBP. It is the primary medium of exchange within Lebanon, and its symbol is ل.ل. The Lebanese Pound has been in circulation since the 1920s, following the French mandate over Lebanon. Today, it continues to serve as the country’s official currency.

However, it is important to note that while the Lebanese Pound is the official currency, the US Dollar is widely used in Lebanon for daily transactions, especially in the business, real estate, and financial sectors. The dollarization of the economy is a significant feature of Lebanon’s financial landscape, contributing to the complexity of its monetary system.

Key facts about the Lebanese Pound:

• Symbol: ل.ل


• ISO Code: LBP


• First introduced: 1924


• Government issued by: Banque du Liban (Central Bank of Lebanon)


• Exchange rate: The value of the Lebanese Pound has fluctuated greatly due to Lebanon’s ongoing economic challenges.

Throughout its history, the Lebanese Pound has faced significant devaluation and inflation, particularly in recent years due to Lebanon’s economic crisis, political instability, and the effects of the Syrian civil war. Despite this, the Lebanese Pound remains a symbol of Lebanon’s national identity and resilience.

The currency’s devaluation has led to the widespread use of the US Dollar, which is sometimes seen as a parallel currency. For instance, salaries and rents are often quoted in dollars, and many businesses conduct transactions in both currencies. Despite the volatility, the Lebanese Pound continues to be the official unit of currency, and any transactions involving foreign exchange are often handled through a dual-currency system.