Head of parallel central bank denies intention to print new currency

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Head of parallel central bank denies intention to print new currency

November 15, 2018 - 14:38
Written by: SafaAlharathy

Ali Al-Habri

The Governor of the parallel Central Bank of Libya in Al-Bayda in east Libya, Ali Al-Habri, has denied the bank's intention to print any new banknotes in Russia.

"Cash is available in commercial banks at increasing rates after the implementation of the recent monetary procedures, which makes no central bank in the world to resort to printing more currency," Al-Habri said in a press statement Wednesday.

Al-Habri's response came after reports in foreign media outlets about the intention of the Al-Bayda-based Central Bank to print 12 billion Libyan dinars in Russia.