Libyan central bank devalues currency by 13.3%

Libya’s central bank announced a 13.3% devaluation of the dinar, the first currency weakening since 2020.

The official devaluation brings the exchange rate closer to the black market value, which has been around 7.20 dinars to the dollar.

This devaluation is part of broader efforts to stabilize Libya’s economy amid ongoing political and economic challenges.

In August 2024, the Presidential Council reshuffled the CBL’s leadership, ousting Sadiq al-Kabir, who had been governor for 13 years.

 

About Khalid Al Mouahidi 4661 Articles
Khalid Al Mouahidi : A binational from the US and Morocco, Khalid El Mouahidi has worked for several american companies in the Maghreb Region and is currently based in Casablanca, where he is doing consulting jobs for major international companies . Khalid writes analytical pieces about economic ties between the Maghreb and the Mena Region, where he has an extensive network