The Libyan dinar has seen an unprecedented decline against the US dollar in years. One US dollar has become equivalent to eight Libyan dinars on the parallel (black) market, and among social media platforms concerned with trading and buying foreign currencies.
The plummeting of the Libyan dinar against the US dollar began since the disagreement between the Government of National Unity and the Central Bank of Libya.
The sharp drop in the dinar’s value has recently intensified in light of the ongoing dispute over the legitimacy of the management of the Central Bank of Libya, and the announcement of the closure of oil facilities as well as the halt of production and exports.
There are rising concerns among the people as the Central Bank’s crisis enters its second month, amid the failure of international mediation to resolve it and bring the relevant parties to an agreement.
