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.