CBL to commence the sale of foreign currency to the public

Liquidity to be made available in upcoming days as well as currency exchange services

Libyan banks receive the green light to distribute foreign currency according to the new exchange rate. [Photo: CBL]
A member of the exchange rate committee in the Central Bank of Libya (CBL) Musbah Al-Ekary announced that the CBL has issued an order to modify the dinar exchange rate to all banks operating in the country to start applying it and provide currency exchange services to citizens.

Al-Ekary also confirmed that liquidity will be made available in the upcoming days with the elimination of the limited withdrawal limit and raising it up to 10 thousand Libyan dinars a month.

He also expects that the liquidity crisis in the country will improve drastically in the upcoming two weeks and that the difference between cash and cheques will be completely eliminated.

In a statement to ‘Free Libya’ news channel he clarified that studies conducted by the CBL indicate that so long as the oil revenue remains consistent, the bank will be able to consistently provide foreign currencies.

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