Title-Tripoli
The exchange rate of the US dollar against the Libyan dinar recorded a slight decline in the official market on Wednesday, reaching 6.35 dinars compared to 6.36 dinars recorded on Tuesday.
The British pound also saw a similar decline to 8.54 dinars compared to 8.55 dinars yesterday.
In contrast, the exchange rate of the euro against the dinar rose to 7.45 dinars after being 7.42 dinars on Tuesday, according to data from the Central Bank of Libya.
As for Arab currencies, the Saudi riyal fell to 1.69 dinars compared to 1.70 dinars, while both the UAE dirham remained stable at 1.73 dinars and the Tunisian dinar at 2.20 dinars.
Both the Chinese yuan maintained its price at 0.91 dinars, and the Turkish lira at 0.14 dinars.
This slight fluctuation in exchange rates indicates a relative stability of the local currency against most currencies, with some limited movements for European and Arab currencies.
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 and has since been ruled by the Byzantines, Arabs, Ottomans, Italians, and others, which is reflected in its diverse architecture, such as the old Medina and Red Castle.
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 1944.
Libyan dinar
The Libyan dinar is the official currency of Libya, introduced in 1971 to replace the Libyan pound. It was established following the country’s independence and the rise of the Libyan Arab Republic, centralizing the monetary system.
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 England. Its symbol (£) derives from the Latin word *libra*, a unit of weight, reflecting its historical link to a pound of sterling silver.
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, with the goal of fostering economic integration and stability across Europe.
Central Bank of Libya
The Central Bank of Libya is the primary monetary authority of Libya, established in 1956 to issue currency and manage the country’s financial reserves. It has played a critical and often contentious role throughout Libya’s modern history, including during the Gaddafi era and the subsequent civil conflicts, where control of the bank and its assets became a major point of political and military contention.
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 unity 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 modern economic sovereignty.
Chinese yuan
The Chinese yuan, officially known as the renminbi (RMB), is the currency of the People’s Republic of China. Its modern form was introduced by the Communist government in 1949, replacing the various currencies that had been in circulation during the Republican era. The yuan’s value and convertibility have been managed by the state, with significant reforms in recent decades gradually increasing its role in international trade and finance.
Turkish lira
The Turkish lira is the official currency of Turkey and the Turkish Republic of Northern Cyprus. It was introduced in 1844, replacing the Ottoman lira, and has undergone several revaluations, most notably in 2005 when the “new Turkish lira” removed six zeros from the old currency.
