Libya’s Central Bank Governor proposes devaluation of dinar to USD

Libya’s Central Bank Governor proposes devaluation of dinar to USD

According to reports in the Libya Observer Central Bank Governor Al-Kabir suggested adjusting the exchange rate to between 5.95 dinars and 6.15 dinars per dollar, thus devaluing the dinar as the current rate stands at 4.80 dinars per a dollar. It comes as a decision by Al-Sidiq Al-Kabir to call on the the Speaker of the House of Representatives (HoR), as part of approving a unified government and unified spending plan and issuing a decision to devalue the dinar exchange rate to US dollar (USD) to address the current financial crisis.

Great! You’ve successfully signed up.

Welcome back! You've successfully signed in.

You've successfully subscribed to MAGHREB INSIDER.

Success! Check your email for magic link to sign-in.

Success! Your billing info has been updated.

Your billing was not updated.