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.