15 Hrs
Source:
بوابة الوسط
Central Bank Confirms No Dinar Devaluation
Sources responsible within the Central Bank of Libya have revealed that the bank currently does not intend to undertake any further devaluation of the dinar. They confirmed that the upcoming economic reforms will not include additional declines in the local currency. The bank is focusing on addressing the structural causes of the economic crisis, including rising public spending, resource wastage, weak public financial management, as well as tightening trade policies and reducing pressures on foreign exchange reserves. These statements come amid increasing pressure on the exchange market, where the unofficial (parallel) market dollar price has reached approximately 8.87 dinars, compared to 6.4 dinars in the official market. The dinar has depreciated threefold since 2021, reaching an official rate of about 6.38 dinars per dollar in January 2026, after previous adjustments in 2021 and 2025. Sources indicate that repeatedly devaluing the dinar is not seen as a sustainable solution. The real solution lies in improving public spending management, reducing wastage, and maintaining exchange rate stability to reflect the current economic challenges in Libya.
Size: 120%Text Size
Notice: This Is an AI-Generated Summary
Comments (0)