TRIPOLI, Jan. 18 (Xinhua) -- Libya's central bank devalued the dinar by 14.7 percent against the International Monetary Fund's (IMF's) Special Drawing Rights (SDR) on Sunday, citing falling oil revenues and growing economic pressures. The bank said the decision was made during its first board meeting of 2026 on Wednesday, following recommendations from the Monetary Policy Committee. After the devaluation, the exchange rate stands at 0.1150 SDR per dinar, down from 0.1348. Dbeibah said the expansion would help make Libya a regional logistics hub while modernizing infrastructure and generating long-term revenue from state assets. Misurata, on Libya's northwestern Mediterranean coast, is one of the country's main commercial centers and a key gateway for trade with Africa, officials said.

Source: Libya Today January 18, 2026 20:14 UTC