Libyan dinar amid dollar fluctuations
Economist Nadhim Al-Tayari stated that a widespread public opinion campaign contributed to lowering the exchange rate of the dollar from about 10.75 to 7.70 dinars, through measures that supported cash dollar exchange and the unified budget. However, he emphasized that continued excessive spending by governments in both the East and West has exerted significant pressure on the currency, leading to a renewed rise in the dollar's price before stabilizing at repeated peaks, despite billions of dollars being injected. He explained that the ongoing expansion of spending, especially on fuel subsidies which consume half of the budget, hinders the correction of economic distortions and increases the likelihood of the Libyan dinar collapsing.
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