The Central Bank of Libya (CBL) held Wednesday its first board meeting for the year 2020 in order to discuss wide-ranging ramifications, including on the citizens’ purchasing power and the creation of a single exchange rate across Libya

The Central Bank of Libya board agreed on to a new unified exchange rate across the country of 4.48 dinars to the U.S. dollar, which will to be effective as of January 03, 2021.

The board was holding a full meeting for the first time in five years after it divided following the wider split in the country between warring western and eastern factions, which also led to different exchange rates in different parts of Libya.