BusinessLibya

Al-Sarraj and Al-Kabir dispute makes Libyan dinar lose value in black market

Foreign exchange rates spiked against the dinar on Sunday on the black market in which traders are currently using “Viber and WhatsApp” groups to sell and buy currencies after the government imposed a curfew.

One of the traders told “218News” that US dollar was trading at 5.14 dinars, which is a remarkable increase compared to the opening price of the day.

The same source attributed the increase in dollar price that broke the 5-dinar barrier for the dispute between the Head of the Presidential Council, Fayez Al-Sarraj, and the Governor of the Central Bank of Libya in Tripoli, Al-Siddiq Al-Kabir, as the escalation between them was clear in the past hours, not to mention the exchange of accusations.

The Central Bank of Libya’s governor in Benghazi, Ali Al-Habri, had called for Al-Kabir to be suspended from work, and for his name to be dropped from the IMF’s list of governors.

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