Tag Archives | Libyan Dinar

Cash for Sale in Libyan Markets

By John Lee. There’s an excellent piece by Nabih Bulos in the Los Angeles Times, on the foreign exchange markets in Libya. “The strategy for making profits here is simple“, he says. “It’s a matter of exploiting both the scarcity of money as well as the difference between the official exchange rate, where a dollar […]

Libya announces launch of first Polymer Banknote

The Central Bank of Libya (CBL) has launched its 1 Dinar banknote that will be printed on De La Rue’s polymer substrate, Safeguard®. This is the first polymer banknote to be released by the Central Bank of Libya, and one of the first polymer banknotes to be released in the region. The introduction of polymer […]

End to Libyan Liquidity Crisis “by early 2019”

By John Lee. The Deputy Prime Minister of the Tripoli-based Government of National Accord (GNA) has reportedly said he sees the Libyan dinar stabilising next year as restoring liquidity could crimp armed groups’ funds. Ahmed Maiteeg (pictured) told Reuters that Libya expects to end a long-running liquidity crisis by early 2019 as a foreign currency tax […]

Libyan GDP Grew 55% in 2017

According to the WFP‘s latest Safety Nets Alert Platform (SNAP), the Gross Domestic Product (GDP) in Libya grew up by 55 percent in 2017 from the previous year. The improved performance has been driven by a revival in oil output and a pick-up in global oil prices. Crude Oil Production in Libya decreased slightly to […]

Libyan Dinar continues to Fall

By John Lee. A recent report has found that, since November, the Libyan dinar has lost 9.1 percent against the US dollar on the ‘parallel’ market, having already depreciated by 4.8 percent in the previous month. Swiss-based NGO REACH says that this has created further inflationary pressures in Libya. The full report can be downloaded […]

Libyan Dinar Falls Further

By John Lee. The Libyan dinar has reportedly fallen further in value in recent days, breaking the LD 9 to the US dollar mark. A black-market currency trader told Libya Herald that the fall was caused by a combination of factors, including the fighting in Wirshefana and the shortage of hard currency on the market. […]

Private Sector to Restore Oilfields

By John Lee. The Chairman of the National Oil Corporation (NOC) held a meeting with Chairman and Members of the Libyan Businessmen Council on Thursday. Mustafa Sanalla opened the meeting referring to the decline of the exchange rate of the Libyan Dinar and its impact on the national economy. He also mentioned the efforts exerted […]