US dollar drops considerably against Libya's dinar at black market

US dollar drops considerably against Libya's dinar at black market

December 03, 2018 - 21:06
Posted in:
Written By: AbdulkaderAssad

The Libyan dinar has gained more value at the black market reaching 4.75 for one dollar after dropping behind the 5 dinars per one dollar's barrier on Sunday.

According to the observers of the black market in Libya, other foreign currencies also dropped in value as the euro became 5.31 Libyan dinars on Monday while it was 5.58 Libyan dinars on Sunday.

The British pound registered a decrease as well at the black market reaching 5.92 Libyan dinars for each one pound.

Observers believe the decrease in value of foreign currencies and the gain of the dinar come due to the Libyan Customs decision to regulate the incoming goods into Libya through the Central Bank system of payment.

The Presidential Council and the Central Bank of Libya passed economic reforms that included imposing fees on dollar purchase transactions in order to impact the black market's prices and make them drop to a normal value.

 

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