Dollar exchange rates in Libya jump over LYD7 per $1

The Libyan economic situation just keeps worsening for both Libyans and foreigners living in there, as the foreign currency exchange rates keep soaring every day more than the other.

This week and up until Wednesday, the dollar exchange rate has hit LYD7.10 per $1 in the black market, while in the official rates, which are enjoyed by politicians and lobbyists, as observers say, $1 costs only LYD1.47.

The dollar rates have been fluctuating lately since the start of 2017, with not once the one dollar going below LYD6 – at least for two consecutive days.

Moreover, the dollar rates hit a record high last year when $1 reached LYD8 for one full day, then dropped to 7-ish for several days, before it had rested at the boundaries of 6 Libyan dinars per one dollar.