What does 'fresh dollars' mean in Lebanon?

Also asked as: “fresh usd lebanon” · “fresh dollar account lebanon” · “What is the difference between fresh dollars and lollars?” · “What does fresh money mean in Lebanon?”

Fresh dollars and lollars#

Since the banking crisis, Lebanese talk about two kinds of dollars. "Fresh" dollars are money you can actually hold or move. JSK Real Estate, a broker, defines them as cash banknotes or bank-to-bank transfers outside Lebanon^[1]. That is a broker's working definition from January 2023, not a legal one. Banque du Liban circulars set up fresh-account categories, but we could not read them.

"Lollars" are the dollars that were already in Lebanese banks before the crisis. AGBI reported in October 2023 that since 2021 holders of these accounts could withdraw only small amounts, often at a haircut that at its peak cut about 80% of the face value^[2]. Current withdrawal limits and rates are not confirmed. For the latest, see what the lollar rate is today.

Why sellers ask for fresh dollars#

A payment in lollars and a payment in fresh dollars are not worth the same, because lollar withdrawals came with that haircut^[2]. According to JSK Real Estate, many sales in 2020-21 closed with bankers' cheques drawn on trapped deposits, but in 2022 the vast majority were paid in real dollars^[1]. In 2025-26 the market was largely cash-driven. R.E.A.L president Walid Moussa told The Beiruter that buying was concentrated among expatriates, some local investors and cash holders, and Libnanews says fresh-dollar buyers can still buy while those tied to old deposits cannot^[6,7]. No source says whether any seller accepts cheques or lollars in 2026. More in paying in lollars or fresh dollars.

The word "fresh" does not tell you where the money has to arrive. JSK Real Estate says some sellers want payment into an account outside Lebanon while buyers hold cash inside it, or the reverse, and that a seller who accepts either method is far more likely to close^[1]. Agree the exact method in writing before you sign: cash handed over in Lebanon, a transfer to a named account abroad, or a transfer to a fresh account in Lebanon. See cash or bank transfer for a property.

Fresh-dollar accounts in Lebanese banks#

Banks offer separate "fresh" accounts, but the BDL rules that set them up could not be read^[1]. These accounts still cost money to use. JSK Real Estate said in 2023 that a seller withdrawing a full sale price in cash from a Lebanese fresh account faced very high commissions, without giving a figure. Ask the bank for its current fee schedule in writing before money moves through it.

For the old deposits, AGBI reported in October 2023 that Banque du Liban Circular 679^[2] bars banks from charging commissions introduced after 31 October 2019 on dollar deposits made before 3 September 2019, and requires banks to post their fee methods visibly in branches. We could not read the circular itself or confirm that it is still in force in 2026. Ask your bank, and look for the posted fee list in the branch.

Fresh dollars and BDH loans#

Banque de l'Habitat (BDH) runs its purchase loan in fresh money. BDH states that the loan is paid in fresh US dollars in cash only^[3,4,5], and Beirut.com reports that it is granted and repaid in US dollars. The life and home insurance you take at signing are also paid in cash in fresh US dollars^[3,4]. To prove income, BDH asks for an employment certificate and fresh-USD bank statements, or other proof of income. No source says whether instalments can be paid by transfer from a bank abroad. See repaying a BDH loan in fresh dollars.