The Libyan capital, Tripoli, witnessed a notable development in the economic scene on Sunday, December 28, 2025. The Municipal Guard apparatus announced the closure of all currency exchange shops in the Zahra and Souq Al-Mushir areas, as part of a regulatory campaign aimed at controlling the foreign exchange market and limiting violations.
This measure came at a time when the exchange rate of the US dollar against the Libyan dinar recorded a new increase, reaching 8.70 dinars in the parallel market. This reflects the scale of pressures facing the local economy due to the turmoil in the monetary market and the increasing demand for hard currency.
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, which is reflected in its diverse architecture, such as the ancient Medina and the Red Castle (Assaraya al-Hamra).
Zahra
Zahra is a common place name and personal name in the Arabic-speaking world, but it is most notably associated with the Shrine of Hazrat Fatima Masumeh in Qom, Iran, a major pilgrimage site for Shia Muslims. The shrine complex, often referred to as “Haram-e Masumeh,” was built around the tomb of Fatimah bint Musa, a revered descendant of the Prophet Muhammad, who died in the city in 817 CE. It has been expanded and embellished over centuries, becoming a central religious and scholarly center.
Souq Al-Mushir
Souq Al-Mushir is a traditional market located in the heart of Damascus, Syria, renowned for its vibrant atmosphere and historical significance. It dates back to the Ottoman era and has long been a central hub for commerce, selling a wide variety of goods from spices and textiles to handicrafts. The souq represents a living part of the city’s ancient mercantile heritage and architectural tradition.
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 1969 revolution that brought Muammar Gaddafi to power, marking a shift in the country’s economic and political identity.
