Lebanese Pound - Definition and Overview

The Pound (ISO 4217: LBP) is the currency unit of Lebanon. The Lebanese pound is theoretically divided into 100 piastres, but inflation has eliminated the subdivisions. As of January 3, 2005, the United States dollar was equivalent to 1,513.00 Lebanese pounds.

Before World War I, the Ottoman Lira was used. After the fall of the Ottoman Empire, the currency became the Egyptian pound in 1918. Upon gaining control of Syria and Lebanon, the French sought to replace the Egyptian pound with a new currency for Syria and Lebanon, which was linked to the Franc. In 1937, Lebanon got its own currency, still linked with the French Franc, and interchangeable with Syrian money. In 1941, following France's defeat by Nazi Germany, the currency was linked instead to the British Pound sterling. [1] (http://www.bdl.gov.lb/paysys/lbp/banknote.htm)

Coins in current use [2] (http://www.bdl.gov.lb/paysys/lbp/coins.htm)

• 50 pounds
• 100 pounds
• 250 pounds
• 500 pounds

Banknotes in current use

• 1000 pounds
• 5000 pounds
• 10,000 pounds
• 20,000 pounds
• 50,000 pounds
• 100,000 pounds