Lebanon and LBP


#1

I am currently in Lebanon, where the local currency “Lebanese Pound” is fixed at a rate of 1507LBP/USD

As the rate is fixed at 1507, all shops that I´ve ever been to accept USD in cash at a rate of 1500. Most shops can also transact credit card payments in USD. When doing the latter, they equally apply a rate of 1500.

I paid something in LBP with Revolut, and the applied fx-rate was 1463.121

I will now obvisouly pay in USD. Still wondering how this can happen as the fx-rate is fixed, thus there should be no problem in dealing with this at better rates.

I did read the article about illiquid currencies, such as the RUB, but that shouldn’t apply here?!


#2

I’ve had a similar experience with another visa card. I always use USD when paying with my euro card in Lebanon.

I’m new to Revolut, just wondering, is it possible to sign up to Revolut with a lebanese mobile number or as a lebanese citizen?