It is an official currency of Lebanon with code LBP and symbol ل.ل. The currency is subdivided into 100 piastres but high inflation during the Lebanese Civil War eliminated the use and need of subdivision. Before the World War I, The Ottoman lira was used as currency in Lebanon. The Egyptian pound was adopted as currency after the fall of Ottoman Empire in 1918. Later French get control over Lebanon and Syria, French replaced Egyptian pound with Syrian pound which was linked with French franc at rate 1 Syrian pound equals 20 franc. In 1924, Lebanon start issuing its own banknotes and coins. In 1939, Lebanon currency was official separated from Syria. In 1941, the French defeated by the Nazi Germany, thereafter, currency was linked with British pound sterling instead of French pound.
Lebanon’s first coins was issued in 1924 and first banknote in 1925. On 1st April 1964, the Bank of Lebanon (Banque du Liban) was established by the Code of Money and Credit. On 1st August 1963, under the Law of Reference, the Bank of Lebanon was granted the sole right to issue notes in denominations of 1, 5, 10, 25, 50, 100 and 250 pounds expressed in French on back and Arabic on front.
Recently banknotes of 1,000, 5,000, 10,000, 20,000, 50,000, 100,000 pounds and coins of 250, 500 pounds are generally circulation in Lebanon economy.