During a televised interview for Libyan WTV channel and Tabadul Platform, the Libyan financial analyst Idris Al-Sherif discussed the effects of changing the exchange rate, pointing out that the rate set by the technical committee at LYD 4.45 is really high.
“There is an abnormal demand for the foreign exchange rate in Libya, which is linked to the political and economic situation in the country, as well as the lack of confidence with regard to the stability of economic policies and finance. However, the Central Bank of Libya (CBL) cannot meet all these requirements,” said Al-Sherif.
The expert also expressed his optimism about the CBL’s board meeting that will take place next Thursday for the first time in six years to discuss fixing exchange rates of the Libyan dinar to foreign currencies.
“We hope that the meeting will bring economic relief and real improvement in people’s standard of living,” he stressed.