The Libyan dinar experienced a significant appreciation against the US dollar in black market dealings this Saturday, marking a striking weekly improvement compared to last Saturday.
Currency traders were exchanging the dollar at 7.28 dinars per dollar in Tripoli at 5:15 PM, a notable shift from 7.42 dinars per dollar last Saturday. In Benghazi, transactions recorded 7.25 dinars per dollar, while in Misrata, the rate stood at 7.27 dinars per dollar.
The dinar also continued its upward trajectory against the Euro, reaching 8.15 dinars per Euro, compared to 8.19 dinars last Saturday. The British Pound, meanwhile, traded at 9.54 dinars per pound this Saturday, down from 9.60 dinars last Saturday.
In an exclusive statement to “Al-Manassa,” a currency trader shed light on the underlying reasons for the dinar’s resurgence against foreign currencies. The trader primarily attributed this improvement to the impending reactivation of the foreign currency booking system via the Central Bank of Libya, effective from Sunday. This measure has prompted numerous dealers to reduce their demand for dollars from the parallel market, anticipating the system’s full operational return.