The Libyan dinar witnessed a sharp decline in its value suddenly on the black market against major currencies on Thursday, recording LYD 4.97 per US dollar and LYD 5.43 per euro, an increase of about LYD 1.20.
According to sources, the decline of the black-market value of the Libyan dinar comes on the back of the delay of implementing economic reforms introduced in September by the internationally-recognized Presidency Council and Government of National Accord.
The Tripoli-based Customs Authority has decided to postpone the implementation of its decision to prevent importing goods and commodities except through letters of credit from the Central Bank of Libya to 1 February instead of 1 January 2019.
The huge decline in Libyan currency’s value also pushed the price of 18k gold to rise to LYD 138 per gram on Thursday.
