The former member of the Board of Directors of the Central Bank of Libya, Mrajaa Ghaith, said in an exclusive statement to our source on Tuesday that the reasons for the rise in dollar prices are the policies opted by the Central Bank. It lacks the clarity in the procedures for dealing with the sale of foreign exchange. He said that it interferes in the work of commercial banks.
Ghaith explained his statement by saying: “I find no surprise regarding the pressure of currency traders on anyone. This is primarily attributed to the abundance of hard currency, which facilitates price hikes and enables them to capitalize on the disparities. This is all owing to the Central Bank’s lack of transparency in its policies and the absence of a governing board responsible for shaping monetary policies and establishing a fair exchange rate. These collective factors contribute to the speculative nature of hard currency, ultimately burdening the average citizen.”