The Governor of the parallel Central Bank of Libya in the east region, Ali Al-Hibri, has called for an urgent meeting of officials of both central banks of the country to change the official exchange rate of Libyan dinar against the dollar to 6 dinars.

Al-Hibri told Libya Al-Hadat TV on Thursday that the proposed change would resolve the crises of the country and provide cash to the banks.

He also proposed a gradual reduction in the exchange rate against the dollar to settle at 3 dinars instead of the current bank rate, which is 1.370 dinar.

The proposal comes as the price of the dollar in the black market has neared LYD 10 dinars, which would increase the daily suffering of people.

Economy