The Central Bank of Libya warned of increasing pressure on the dinar’s exchange rate against the dollar and other foreign currencies if the pace of public spending continues at the current situation, with the worsening deficit in foreign exchange revenues to cover the increasing demand. In its statement on public revenues and spending covering the … Read more
Foreign currency prices in the parallel market recorded a significant increase recently, as the price of the dollar reached more than 6.3 dinars, while the exchange rate of one euro reached 6.7 dinars. This increase came in conjunction with the Central Bank stopping transactions for opening documentary credits related to corporate supplies, and reducing The … Read more
Al-Arabi Al-Jadeed – Ahmed Al-KhamisiThe majority of commercial banks in Libya are suffering from a liquidity crisis, and a large number of citizens are queuing in front of ATMs. This comes with an increase in currency and cash transactions in the markets by 10 percent, with jumps in the price of the dollar in the … Read more
Middle East: Jacqueline ZaherThe two conflicting governments in Libya are intensifying their presence on the political scene by issuing different decisions and statements, which according to politicians indicates that they are working to remain in power, without seriously addressing any measures related to the postponed elections. A member of the Libyan House of Representatives, Ammar … Read more
The liquidity crisis in southern Libya is one of the problems that has been ongoing for years, as citizens in this region suffer from difficulty obtaining the local currency, the Libyan dinar, which has caused many social and economic problems, including high prices, decreased production, and increased unemployment. The municipalities and cities of southern Libya … Read more
Al-Arabi Al-Jadeed – Ahmed Al-KhamisiConflict is arising in Libya over the future of fuel subsidies, amid disputes between the head of the National Unity Government in Tripoli, Abdul Hamid Dabaiba, on the one hand, and the government designated headed by Osama Hammad in Tobruk, on the other hand. Al-Dabaiba said in recent statements that the … Read more
Sputnik – The banking sector in Libya suffers from major obstacles, most notably the cash liquidity crisis, which has negatively affected the life of the Libyan citizen, which has continued for many years without a real solution. Banks in Libya are also witnessing a significant absence of foreign transfers, and a lack of ATM machines. … Read more
The Central Bank of Libya announced the exchange rates of international currencies against the dinar, today, Thursday, January 25, 2024. The average exchange rate of the dollar reached 4.8168 dinars, recording a slight decline. The average exchange rate for the euro was 5.2411 dinars, the pound sterling was 6.1245 dinars, the Canadian dollar was 3.5625 … Read more
Middle East: Jacqueline ZaherThe salaries of government sector workers in Libya have turned into an issue that is almost constantly being debated and debated, as they consume nearly half of the state’s public expenditures. This comes amid warnings from politicians and experts about the danger of the continuation of this reality on the country’s economy … Read more
Many merchants and citizens hope that the resumption of the sale of foreign exchange for personal purposes with a ceiling of $10,000 will lead to positive results on the dollar exchange rate as it continues to rise on the black market after a number of Libyan banks, most notably the Republic, Trade, Development and Unity … Read more
