Tripoli – Trading on the parallel market witnessed a sudden rise in the exchange rate of the US dollar against the Libyan dinar on Tuesday, with the dollar reaching 8.83 dinars. This development reflects the ongoing volatility in the unofficial currency market.
This sudden movement raises concerns about its repercussions on the economic and living conditions, at a time when demands continue for tightening monetary policies and enhancing oversight of the exchange market.
Tripoli
Tripoli is the capital and largest city of Libya, with a history dating back to the 7th century BC when it was founded by the Phoenicians. It later became a significant part of the Roman Empire, the Ottoman Empire, and an Italian colony, which is reflected in its diverse architecture, such as the historic Medina and the Red Castle (Assai al-Hamra).
US dollar
The US dollar is the official currency of the United States, established by the Coinage Act of 1792. It evolved from a system based on Spanish milled dollars and has become the world’s primary reserve currency since the Bretton Woods agreement in the mid-20th century.
Libyan dinar
The Libyan dinar is the official currency of Libya, introduced in 1971 to replace the Libyan pound. Its issuance and value have been heavily influenced by the country’s political history, including the Gaddafi era and the instability following the 2011 revolution.
