Tag Archives | Libyan Dinar

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 […]

Central Bank distributes $303m to Households

By John Lee. The Central Bank of Libya (CBL) has said that it has distributed more than $303 million to Libyan households from 12th February to 23rd May. The dollars were made available at the official rate of 1.4 dinars per dollar; the black-market rate is currently around 8 dinars per dollar. Individuals are entitled […]

Will Libya Devalue its Dinar?

By Jason Pack for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Libya Business News. Nearly six years after the fall of Col. Moammar Gadhafi in 2011, the tally of political, social and security-related challenges facing Libya is considerable. International efforts to reconcile the deep political […]

IMF Comments in Dinar Devaluation

By John Lee. A new report from the International Monetary Fund (IMF) has said that the ongoing conflict in Libya has caused sharp depreciations in parallel exchange rates, reflecting security concerns and foreign exchange shortages. In its Regional Economic Outlook for the Middle East, the IMF adds that the country has improved regarding compliance with […]

CBL Receives new Shipment of Libyan Currency

By John Lee. The Central Bank of Libya (CBL) in Tripoli received a new shipment of Libyan paper currency on Friday. The dinars were produced in the United Kingdom, and sent by air via Mitiga International Airport. In a statement, the CBL said it will distribute the shipment to commercial banks in "all regions of […]

Eastern Central Bank wants Dinar Devaluation

By John Lee. Libya Herald reports that the chairman of the Beida-based Central Bank of Libya (CBL), Ali Hibri, has again called for the Libyan dinar to be devalued, and wants to reduce subsidies on goods and energy. The report suggests that, despite the existence of parallel institutions in the East and West of Libya, […]