Libya imposes fees on foreign currency transactions

Libyan dinar in exchange with dollars (Photo: Internet)

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.

The views expressed in Op-Ed pieces are those of the author and do not purport to reflect the opinions or views of Libyan Express.
How to submit an Op-Ed: Libyan Express accepts opinion articles on a wide range of topics. Submissions may be sent to oped@libyanexpress.com. Please include ‘Op-Ed’ in the subject line.
Azara Media Azara Media
You might also like

Submit a Correction

For: Libya imposes fees on foreign currency transactions

Your suggestion have been successfully submitted

There was an error while trying to send your request. Please try again.

Libyan Express will use the information you provide on this form to be in touch with you and to provide updates and marketing.