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
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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