The Central Bank of Libya’s decision to devalue the dinar by 14.7% against the Special Drawing Right (SDR) has not been clearly reflected in the parallel market’s transactions. The US dollar saw a marginal increase of no more than two qirsh, reaching 8.72 dinars compared to 8.70 dinars in Saturday’s trading, according to market traders and relevant market pages.
According to market data, the euro’s exchange rate declined to 9.95 dinars from 9.97 dinars, while the British pound remained stable at 11.35 dinars with no change. The Turkish lira also maintained its level at 0.17 dinars, and the Tunisian dinar at 2.56 dinars, the same prices as the end of last week.
The Board of Directors of the Central Bank of Libya had earlier announced an adjustment to the official exchange rate of the dinar, lowering it to 0.1150 SDR units instead of 0.1348 units, during the first meeting of the Monetary Policy Committee for the year 2026. The bank clarified that the decision came to address economic challenges resulting from political division, declining global oil prices, and the subsequent drop in revenues.
In the official market, the decision had a more pronounced impact, with the US dollar rising by approximately 95 qirsh to record 6.38 dinars compared to 5.43 dinars last Thursday. The euro also rose to 7.4 dinars from 6.32 dinars, and the British pound to 8.53 dinars from 7.29 dinars.
As for Arab currencies, the Saudi riyal recorded 1.7 dinars compared to 1.44 dinars, the UAE dirham 1.73 dinars compared to 1.47 dinars, and the Tunisian dinar 2.2 dinars compared to 1.88 dinars. The Chinese yuan also rose to 0.91 dinars from 0.77 dinars, while the Turkish lira recorded 0.14 dinars compared to 0.12 dinars.
This discrepancy between the official and parallel markets reflects the state of caution prevailing among traders, amid anticipation for the decision’s effects on prices and monetary stability in the coming period.
Central Bank of Libya
The Central Bank of Libya is the primary monetary authority of Libya, established in 1956 following the country’s independence. It has played a critical role in managing the nation’s financial system and currency, though its operations have been significantly challenged and divided between rival administrations during periods of conflict since 2011.
Libya
Libya is a North African country with a rich history that includes ancient Phoenician and Greek settlements, most notably at Cyrene, and later Roman rule. It was part of the Ottoman Empire before Italian colonization in the early 20th century, gaining independence as a kingdom in 1951. The nation’s modern history was dominated by Muammar Gaddafi’s lengthy rule from 1969 until the 2011 civil war and his overthrow.
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 precious metals to a fiat currency, and its global reserve status was cemented by the Bretton Woods Agreement in 1944.
euro
The Euro is the official currency of the European Union, used by 20 of its member states which form the Eurozone. It was introduced in non-physical form in 1999 to foster economic integration and stability, with banknotes and coins entering circulation in 2002, replacing former national currencies like the German Mark and French Franc.
British pound
The British pound sterling is the official currency of the United Kingdom and is the world’s oldest currency still in use, with origins tracing back over 1,200 years. Its name derives from the historical value of a pound weight of sterling silver, and it has been a major global reserve currency for centuries.
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 redenominations, most notably in 2005 when the “new Turkish lira” removed six zeros from its predecessor.
Tunisian dinar
The Tunisian dinar is the official currency of Tunisia, introduced in 1960 to replace the Tunisian franc. Its establishment followed the country’s independence from France in 1956, marking a key step in Tunisia’s economic sovereignty.
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.
Chinese yuan
The Chinese yuan is the official currency of the People’s Republic of China, with its modern form managed by the People’s Bank of China. Its history dates back to ancient times, with the term “yuan” referring to the round silver coins used during the Qing Dynasty, and it was officially decimalized in the 20th century.
