Title – Tripoli
The US dollar began the week’s trading in the official market on Sunday at 5.43 dinars, compared to 5.42 dinars at the close of last week, according to data from the Central Bank of Libya.
In contrast, the euro saw a slight decline to 6.32 dinars from 6.33 dinars, while the British pound fell to 7.28 dinars from 7.29 dinars last Thursday.
Regarding Arab currencies, the Saudi riyal remained stable at 1.44 dinars, and the UAE dirham at 1.47 dinars, while the exchange rate for the Tunisian dinar remained unchanged at 1.88 dinars. The Chinese yuan also maintained its price at 0.77 dinars.
In the parallel market, the dollar rose against the Libyan dinar, recording 8.86 dinars on Saturday compared to 8.77 dinars on Thursday, while the euro climbed to 10.16 dinars from 10.10 dinars, and the British pound increased to 11.55 dinars from 11.45 dinars.
Tripoli
Tripoli is the capital and largest city of Libya, located on the country’s Mediterranean coast. Historically, it was founded by the Phoenicians in the 7th century BC and has since been ruled by the Romans, Arabs, Ottomans, and Italians, serving as a major port and cultural crossroads. Its historic center, the medina, features well-preserved architecture from these various eras.
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 became the world’s primary reserve currency following the Bretton Woods Agreement in 1944.
Central Bank of Libya
The Central Bank of Libya is the country’s primary monetary authority, established in 1956 to issue currency and manage monetary policy. It has played a critical and often divisive role in Libya’s recent history, with parallel institutions emerging in the east and west during the post-2011 civil conflict.
euro
The Euro is the official currency of the Eurozone, which consists of 20 of the 27 member states of the European Union. It was introduced in non-physical form in 1999 and as physical banknotes and coins in 2002, representing a major step in European economic integration. Its creation was driven by the goal of fostering stability, economic cooperation, and a unified identity within the participating nations.
British pound
The British pound, officially known as pound sterling, is the world’s oldest currency still in use, with origins tracing back over 1,200 years to Anglo-Saxon times. Its name derives from the Latin “libra,” a unit of weight, and it was historically linked to silver before moving to the gold standard and eventually becoming a free-floating fiat currency.
Saudi riyal
The Saudi riyal is the official currency of Saudi Arabia, introduced in 1925 following the unification of the regions of Hejaz and Nejd. It replaced the Hejaz riyal and was initially pegged to the British pound before being formally pegged to the U.S. dollar in 1986.
UAE dirham
The UAE dirham is the official currency of the United Arab Emirates, introduced in 1973 to replace the Qatar and Dubai riyal. It was established following the country’s formation in 1971, symbolizing the economic union of the seven emirates.
Tunisian dinar
The Tunisian dinar is the official currency of Tunisia, introduced in 1960 to replace the Tunisian franc. Its creation followed the country’s independence from France in 1956, marking a key step in establishing Tunisia’s monetary sovereignty.
Chinese yuan
The Chinese yuan, officially known as the renminbi (RMB), is the currency of the People’s Republic of China, with its modern form introduced by the Communist government in 1949. Its history dates back much further, with the term “yuan” originally referring to the silver dollar coins that circulated in the late Qing Dynasty during the 19th century.
Libyan dinar
The Libyan dinar is the official currency of Libya, introduced in 1971 to replace the Libyan pound. It was established following the 1969 revolution that brought Muammar Gaddafi to power, symbolizing a move toward economic independence.
