The Deputy Governor of the Central Bank of Libya, Ali Al-Hibri, said in a statement to our source on Monday that the decision to amend the exchange rate taken by the Board of Directors of the Central Bank will be imposed by force of law, despite the opposition of Seddiq Al-Kabeer because it serves the public interest.
Al-Hibri clarified that the decision to adjust the exchange rate is an inherent competence of the Board of Directors of the Central Bank of Libya, which decided – after a meeting held at the end of last September, in which Al-Kabeer was invited to attend – amending the exchange rate of the Libyan dinar to be 0.1833 units of special drawing rights, equivalent to approximately 4.26 dinars per dollar.
The Central Bank of Tripoli had rejected, in a post on the official Central Bank page on its official Facebook Page, the decision to amend the exchange rate of the Libyan dinar, stressing the continuation of work at the previous exchange rate established under Board Resolution No. (1) of 2020.