Great expectations in Libya boost the dinar against foreign currencies
Since the arrival of the GNA Presidential Council, headed by Fayez Al-Serraj, to Tripoli last Wednesday, there have been a lot of fluctuations in the Libyan black market.
The US dollar was worth LYD4.25 before the news of PC’s arrival came, a day later on Thursday it became 2.90 and going down, economists have reported.
Moreover, the euro as well has seen the same shrink in worth against the Libyan dinar as it went down to 3.70 or less on Sunday black market circulations with expectations that all foreign currencies to decrease in worth against the dinar.
Economists say that such a boost in the dinar’s worth goes back to the series of solutions that are scheduled by the Serraj government and due to the measures to be taken by the Central Bank of Libya and the National Oil Corporation, which promised to open oil fields for exportation.
How to submit an Op-Ed: Libyan Express accepts opinion articles on a wide range of topics. Submissions may be sent to firstname.lastname@example.org. Please include ‘Op-Ed’ in the subject line.