Libya imposes fees on foreign currency transactions
Libya’s government of national accord on Wednesday imposed a fee of 183 percent on foreign currency transactions, effectively devaluing the Libyan dinar to bridge the gap to the dominating black market.
The move devalues the official rate of the dinar to the dollar for such deals to around 3.90 from around 1.4.
The decision had an immediate impact on the black market, leading to the dollar to drop from $1=6.50 dinars to $1=5.70 dinars on Thursday morning.
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.
- Libya’s Dar al-Ifta calls for boycott of Dutch, Swedish products - January 29, 2023
- Italy tussle for North Africa influence with competing visits - January 29, 2023
- Italy’s Eni signs gas production deal with Libya - January 29, 2023