New 100,000 Lira Banknote Shrinks, This Time Literally

Following an announcement by acting Banque du Liban governor Wassim Mansouri, new 100,000 lira banknotes have started circulating as of December 1st, 2023.

The governor had announced in late November that the new banknote will feature his signature, as well as the signature of former BDL governor Riad Salameh. Newer banknotes bearing his and Vice Governor Bachir Yakzan’s signatures will be introduced starting January 2nd, 2024.

^{Source: Reddit.}

Bearing resemblance to the 1,000 lira, the new 100,000 lira banknote has shrunk significantly, both in size and in value. The currency had plunged to 100,000LBP against the dollar back in March of this year and is now fluctuating around 90,000LBP. The reduced size clearly reflects its value, as it once stood at approximately $66 (at the 1,500LBP rate) but is now worth less than a dollar.

Was this decision made due to the currency’s depreciation, or is the smaller banknote just cheaper to print and circulate?

The good news is that these massive bills will stop dangling out of every wallet.

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