A senior source at the Central Bank revealed that Libya recently devalued the Dinar exchange rate by 51 percent against the US Dollar, reported ksa Today . The dinar was devalued from 0.645 Libyan Dinars to to LD 1.3 against the dollar. The source refrained from giving any information regarding the reason behind the devaluation. Apparently, Libyan monetary authorities have adopted a continuous dinar devaluation policy to bridge the gap between the legal exchange rate and the black market. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
