The board of directors of the Central Bank of Libya (CBL) has approved today (Wednesday) a new exchange rate of 4.48 Libyan dinars for 1 US dollar as a fixed rate to the replace the current rate of 1.45 dinars to $1.
An exclusive source to Libya Alahrar TV said the new exchange rate will go into effect starting January 03 and a new committee will be formed to follow up the implementation of this new exchange rate procedures in the country.
Besides the 1.45 official central bank rate, which is only given to the letters of credit for imports and for certain official government business, the central bank slapped 3.90LYD=$1 rate for Libyans in general if they want to buy dollars from the central bank.
