The value of the Lebanese pound has slowly improved on the world market since 1992, thanks to a wise monitory policy that has sought to restore its value. As a result, the value of the pound to the dollar has improved from 1,800 Lebanese pounds for every U.S. dollar at the end of 1992 to 1,508 pounds to 1 U.S. dollar at the end of 1999, and has remained at roughly this value in the years since. The U.S. dollar was widely used throughout the civil war, and although its use has decreased since
|Exchange rates: Lebanon|
|Lebanese pounds per US$1|
|SOURCE: CIA World Factbook 2001 [ONLINE].|
1991, more than 60 percent of transactions in 2001 are still conducted using the U.S. dollar, which is available at many Lebanese banks. The nation's central bank, the Central Bank of Lebanon, is highly respected by the international banking community and has done a good job of maintaining the value of the currency and keeping low inflation.