Market News
Libya devalues currency for first time in four years - REUTERS
CAIRO, April 6 (Reuters) - Libya's central bank announced a 13.3% devaluation of the country's dinar currency on Sunday, setting the exchange rate at 5.5677 to the U.S. dollar effective immediately.
This is the first official devaluation since the bank agreed to a devalued exchange rate of 4.48 dinars to the dollar in 2020.
The parallel market exchange rate is currently at 7.20 dinars to the dollar.
In September last year, the dinar slid against the U.S. dollar in the black market due to a crisis over control of the central bank that slashed oil output and exports.
