LibyaPolitics

Board of Central Bank of Libya approves unified exchange rate for US dollar

The Board of Directors of the Central Bank of Libya approved Wednesday a recommendation to amend the value of the Libyan dinar against the dollar, so that the dollar has become 4.48 dinars.

A statement issued by the Central Bank of Libya stated that this recommendation came after the first meeting of the Board of Directors for the year 2020, indicating that these prices will be applicable for all purposes and uses of governmental, commercial and personal foreign exchange to be effective on January 3, 2021.

The recommendation of the Board of Directors of the Central Bank of Libya to amend the value of the dinar against the special drawing units to reach 0.1555 units per dinar, which makes the new price feasible.

The statement emphasized that the Board of Directors will intensify its meetings during the coming weeks, in an attempt to find solutions to the problems and obstacles that the banking sector suffers from, in a manner that achieves the sustainability of financial and monetary integrity.

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