What is the statutory basic currency unit of Lebanon?
Answer and explanation
Correct answer: A. Lebanese Pound (Livre Libanaise - LBP)
- Step 1: The currency of Lebanon is the Lebanese Pound (abbreviated LBP or LL).
- Step 2: Subdivisions into 100 piasters (qirsh) ceased circulation decades ago due to inflation.
Answer
Lebanese Pound (Livre Libanaise - LBP).
Why not the others: 'Lebanese Dinar' does not exist; 'Levant Piaster' was an Ottoman/mandate currency subunit; 'Phoenician Shekel' was an ancient coinage.
Practise more Economy, Banking, Infrastructure, and Trade.
Free questions with an explanation for every one, and full timed General Knowledge (Lebanon) mock tests.
More Economy, Banking, Infrastructure, and Trade questions
- What is the central bank of the Lebanese Republic, established pursuant to the Code of Money and Credit in 1963?
- What landmark statute enacted in 1956 became the cornerstone of Lebanon's banking sector growth by legally guaranteeing account confidential…
- What regulatory body established within Banque du Liban conducts prudential supervision and audits of commercial banking institutions?
- What major Lebanese commercial bank collapsed in October 1966, triggering the restructuring of the national banking regulatory framework?
- What official exchange rate pegged the Lebanese Pound to the US dollar from December 1997 until the financial restructuring of 2023?
- What is the largest commercial port facility in Lebanon, handling approximately 70 percent of national maritime freight imports?