Libya’s dinar collapses, three rival governments honeymooning still


The Libyan dinar has collapsed marking a historical devaluation in exchange of foreign currencies in the black market.

On Monday, $1 hit a record high by being sold for LYD6.750, while 1 euro was sold for LYD7.150 and 1 pound was sold for LYD8.260.

This setback for the Libyan currency has taken place amid a continuing stalemate and lack of consensus in the country as there are three rival governments toying with Libyans’ fate as if they are on a vacation or on a honeymoon, where they need not to worry.

As economic analysts told the media in Libya, this continuous collapse and devaluation of the currency will worsen the country’s everyday life services as inflation is going to soar and prices will keep on surging making it a hell-like life for many.

The dinar has lost its value and broke the 6 above barrier starting from last Saturday registering LYD6.05 for the $1. Today, however, with the passiveness of the GNA and its illegitimate rival governments – east and west – $1 reached almost LYD7.

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 Please include ‘Op-Ed’ in the subject line.
You might also like

Submit a Correction

For: Libya’s dinar collapses, three rival governments honeymooning still

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.