Central Bank shuts down exchange rate adjustment rumors

The Central Bank of Libya dismissed rumors that the exchange rate was going to be dropped to 3.65 dinars, adding that the Exchange Rate Committee is still meeting to discuss several pressing issues

The director stated that the committee tasked with tackling the issues of the country’s exchange rate has yet to finalize their meetings and put out the outcomes of their discussions for the public. [Photo: Archive]
Abdel Latif Al-Tunisie, Director of the Governor’s Office of the Libyan Central Bank, denied on Tuesday the rumors of an exchange rate adjustment to 3.65 dinars as reported by social media pages and websites.

According to a statement cited by the Libyan News Agency (LANA), the Director confirmed that the Exchange Rate Adjustment Committee meetings are still open and will continue until the committee completes the items assigned to it next week.

The Exchange Rate Adjustment Committee has been meeting since last Sunday to discussions a number of important issues.

Libya’s Central Bank board of directors unified the country’s exchange rate to 4.48LYD per dollar for all business, personal, and governmental transactions last December, thus effectively devaluing the Libyam Dinar which had been set at the official exchange rate of just 1.35 per dollar prior to the unification.

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