Tripoli – The US dollar continued to hit new highs against the Libyan dinar in parallel market transactions this Wednesday, in a jump described as historic amid ongoing turmoil in the exchange market.
At 17:10, the dollar was trading at 9.68 dinars in the Al-Mashir currency market in Tripoli, 9.66 dinars in the Venice market in Benghazi, while it reached 9.65 dinars in the markets of Zliten and Misrata.
In banking transactions via checks and transfers, the dollar rose to 10.90 dinars, indicating a widening gap between cash and bank settlement rates.
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.
Libyan dinar
The Libyan dinar is the official currency of Libya, introduced in 1971 to replace the Libyan pound. Its issuance is managed by the Central Bank of Libya, and its history is closely tied to the country’s political and economic changes, particularly following the discovery of oil.
Al-Mashir currency market
The Al-Mashir currency market is a prominent informal foreign exchange market located in the Mansour district of Baghdad, Iraq. It historically emerged as a key hub for currency trading, especially during periods of economic instability and sanctions when official banking channels were restricted. Today, it remains a significant, though unofficial, benchmark for the Iraqi dinar’s exchange rate against foreign 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 Roman city and a major port under various rulers, including the Ottomans and Italians, which is reflected in its diverse architecture like the ancient Medina and Red Castle.
Venice market
The Venice Market, historically centered around the Rialto area, has been the city’s primary food and goods marketplace since the 11th century. It remains a vibrant hub where locals and visitors can purchase fresh produce, fish from the lagoon, and other regional specialties, continuing a mercantile tradition that was central to the Venetian Republic’s economic power.
Benghazi
Benghazi is a major city in eastern Libya, historically significant as a center of trade and culture since its founding as the Greek colony of Euesperides. It played a pivotal role in the 2011 Libyan Civil War as a key base for the uprising against Muammar Gaddafi.
Zliten
Zliten is a coastal city in northwestern Libya, historically known for its Roman and Ottoman-era influences. It is particularly recognized for the Zliten Mosaic, a well-preserved Roman floor mosaic from the 2nd century AD discovered in a nearby villa. The city also holds cultural significance as the site of the Zawiyat Al-Asmari, a traditional Islamic educational institution.
Misrata
Misrata is a major port city on the Mediterranean coast of northwestern Libya, historically known as a key trading and commercial center since at least the 7th century. It gained significant international attention during the 2011 Libyan Civil War, where it endured a prolonged and pivotal siege, becoming a symbol of resistance against the Gaddafi regime.
