The exchange rate of the dollar in the Central Bank of Libya rose today, Thursday, to a record level, reaching 4.80 dinars per dollar, for the first time since the exchange rate of the Central Bank was modified to 4.48 in January in the year of 2021.
According to central bank data, the official exchange rate for the dollar rose today to 4.80 dinars, after it was 4.65 at the end of last month, while the euro exchange rate was 5.05 dinars, and the pound sterling reached its price at the Central Bank to 6.01 dinars.
The Directors Board of the Central Bank had issued a decision to adjust the value of the Libyan dinar against the special drawing rights units, to reach 0.1555 special drawing rights units per dinar, which is equivalent to 4.48 dinars per dollar, as of early January of last year 2021.
The banking expert, Omran Al-Shaibi, explained that the Special Drawing Rights are an international reserve asset created by the International Monetary Fund in 1969 to complement its official assets of member countries and depend on a basket of five currencies, namely the US dollar, the euro, the Chinese renminbi, the Japanese yen and the British pound sterling.
He added that the value of the Special Drawing Rights is reviewed every five years, and the last adjustment in its value dates back to 2016, and it was supposed to be adjusted in March 2021, but the Executive Board of the International Monetary Fund postponed the next review of the Special Drawing Rights assessment basket to July 31 of this year.
It is noteworthy that the exchange rate of the dollar in the parallel market also witnessed an increase in the past two days, reaching 5.05 dinars, after it was trading below the barrier of five dinars to the dollar.