Dollar sharply drops in Libya black market

BY Libyan Express Jan 16, 2018 - 14:53

Libyan dinar in exchange with dollars (Photo: Internet)

The Libyan Dinar has gained the most value in the last five months on Tuesday as the black market started offering selling $1 for LYD7.80.

The Libyan dinar has been for the last three months at least steadily valueless at 9.80 and 9.50 dinars per one dollar in the black market, leaving the country suffering with high prices of goods and foods as well as medicines.

However, with new Central Bank of Libya’s measures to be coming in the horizon and with the latest announcement that the CBL is starting to offer $500 per family member from January 15 onward, the black marker experience a hard shakeup.

This new shakeup came as the official CBL rates for the dollar registered as low as LYD1.4 for $1.

Uncertainty is prevailing at the black market in Libya, especially in the capital Tripoli, as the dealers are trying to attract buyers and thus are trying to lower the prices below 7.80 piecemeal and carefully.

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