The Libyan dinar recovered some of its value in the black/parallel market against the major hard currencies Wednesday after steady losses over the last week. One popular exchange site quoted a low of LD 6.27 Tuesday, before recovering to LD 5.61 to the dollar Wednesday. The sharp fall in the dinar exchange rate has caused much consternation on traditional and social media as programmes lined up analysts to explain the causes of the dinar loss. The Central Bank of Libya released its October statistics bulletin this week which showed demand for foreign exchange rising. He said the lack of a general strategy for banks contributed to the sudden rise in the price of the dollar.

Source: Libya Today November 09, 2023 07:38 UTC