Tag: Dinar devaluation
Finance Headlines Libya

Libya Devalues Dinar by 14.7% Amid Falling Oil Revenues and Fiscal Strain

North Africa PostComments Off on Libya Devalues Dinar by 14.7% Amid Falling Oil Revenues and Fiscal Strain

Libya’s central bank devalued the dinar by 14.7%, citing declining oil revenues and mounting economic pressures. The decision followed deliberations at the bank’s first board meeting of 2026, held last week, and was based on recommendations from the Monetary Policy Committee. Following the adjustment, the exchange rate was set at 0.1150 Special Drawing Rights (SDR) […]
Finance Headlines Libya

Libyan lawmakers reject Dinar devaluation, call for comprehensive economic overhaul

North Africa PostComments Off on Libyan lawmakers reject Dinar devaluation, call for comprehensive economic overhaul

Fifty-five members of Libya’s House of Representatives (HoR) strongly criticized the recent devaluation of the dinar, arguing that the move fails to address the root causes of the country’s deepening economic crisis. The lawmakers stressed, in a joint statement issued on Wednesday, that adjusting the exchange rate or increasing the dollar price would not resolve […]
Emerging Markets Finance Headlines Libya

Libya’s Central Bank devalues Dinar by 13.3% amid ongoing political divisions

North Africa PostComments Off on Libya’s Central Bank devalues Dinar by 13.3% amid ongoing political divisions

The Central Bank of Libya (CBL) has announced a significant 13.3% devaluation of the Libyan dinar, adjusting the exchange rate to 5.5677 dinars per US dollar, effective from April 6, 2025. This decision marks a shift from the previous rate of 0.1555 to 0.1349 Special Drawing Rights (SDRs) per dinar. The move comes as part […]