Libya’s Central Bank of Libya to sell $400 for every family member

The Central Bank of Libya (CBL) issued a statement on Wednesday declaring that it would assign $400 for every Libyan citizen starting from today and they can buy them from the banks with the official rates of the CBL. The CBL rates are $1 = LYD 1.42.

The statement came as a shocker for the black market, which started fluctuating as the dollar dropped to 5.50 after being 6.10 in the morning.

The CBL said that every father would be allowed to buy 400 dollars for every child he has and those dollars will be put in a separate bank account for the father from which he can cash out the money via visa cards or by money transfers.

“The money will be kept in the bank account of the family and they can cash it out whenever they want, this year or later.” The CBL adds.

It also said that it will keep allowing 7.500 dollars for treatment and studies outside Libya.

This news is very important for the economy, the CBL said, adding that it will affect everything in the market.

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