Black Market: US dollar drops below six dinars for first time in three months
The US dollar exchange rates against the Libyan dinars have seen a drop, which is considered the first in its sort in the last three months.
On Monday, the black market rates for the dollar registered the selling of $1 for LYD5.90 compared to LYD6.30 on Sunday and even over the last couple of months.
For the first time in Libya’s economic history, the Libyan dinar dropped last year to over seven dinars per one dollar.
This new exchange rate is found, according to analysts and citizens, ineffective and of little significance on the ground as the prices in the market, whether food, medicines or any other commodities, continue to soar amid the shortage of cash at the banks.
The views expressed in Op-Ed pieces are those of the author and do not purport to reflect the opinions or views of Libyan Express.
How to submit an Op-Ed: Libyan Express accepts opinion articles on a wide range of topics. Submissions may be sent to oped@libyanexpress.com. Please include ‘Op-Ed’ in the subject line.
How to submit an Op-Ed: Libyan Express accepts opinion articles on a wide range of topics. Submissions may be sent to oped@libyanexpress.com. Please include ‘Op-Ed’ in the subject line.
Latest posts by Libyan Express (see all)
