CBL sells $75 million to Libyan families at official exchange rates

CBL sells $75 million to Libyan families at official exchange rates

April 15, 2017 - 12:44
Posted in:
Written By: AbdulkaderAssad

The Central Bank of Libya (CBL) announced that it had sold more than 75 million US dollars to Libyan families at the official exchange rates (LYD1.43).

In a statement with a table of figures showing the transactions made at commercial banks in Libya, the CBL said the 75 million dollars were sold to families as part of the program it had launched earlier this year allowing every family's breadwinner to buy $400 for each member of their family.

"The CBL deposited the money in the new system that will allow each family member to buy 400 dollars at the official exchange rates, and the system worked well selling 75 million dollars until April 12." The statement adds.

According to the new step by the CBL, each family member will be allowed to buy $400 with the official exchange rates and the all of the dollars of the family members will be deposited in a separate bank account for each family’s breadwinner (whether the father or the mother) from which they can withdraw the money by visa cards or via money transfers (or cash when the embargo placed on Libya in 2013 ends).