The currency market in Libya witnessed a limited decline in the exchange rate of the US dollar against bank checks as trading closed on Wednesday, February 18, 2026, after it had recently approached its highest level in ten years. The dollar fell by approximately 13 qirsh, but maintained its upward trend influenced by recent decisions issued by the Central Bank of Libya.
With this decline, prices moved away from the 11 dinar level previously recorded due to increased demand and the recent wave of price hikes. Meanwhile, anticipated changes to the personal purposes system and the expansion of exchange company authorities have contributed to a relative calming of prices. Minor differences in prices between banks in Tripoli and Benghazi persisted.
📊 Dollar prices in checks at market close
Buying and selling prices at a number of banks were as follows:
| Bank | Selling Price (Dinar) | Buying Price (Dinar) |
|---|---|---|
| Trade and Development / Al-Wahda (Tripoli) | 10.970 | 10.9675 |
| Development / Al-Wahda (Benghazi) | 10.980 | 10.9775 |
| Al-Jumhouria / National Commercial / Al-Aman | 10.960 | 10.9575 |
| Al-Sahari / Al-Waha / Islamic / North Africa | 10.950 | 10.9475 |
| Al-Muttahid / Al-Nouran / Al-Saray | 10.940 | 10.9375 |
Background of the Movements
This rise comes as the Central Bank of Libya announced a devaluation of the dinar by 14.7% against the Special Drawing Rights (SDR) unit, setting the dinar’s value at 0.1150 SDR instead of 0.1348 SDR. The new official exchange rate is stabilized at around 6.40 dinars per US dollar.
This decision is considered one of the key factors that pushed prices in the parallel market to record high levels in recent days.
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 the mid-20th century.
Libya
Libya is a North African country with a rich history rooted in ancient civilizations like the Phoenicians and Romans, followed by centuries of Arab and Ottoman influence. In the modern era, it was an Italian colony before gaining independence in 1951, later becoming known for Muammar Gaddafi’s lengthy rule from 1969 until the 2011 revolution. Its cultural heritage includes UNESCO World Heritage sites such as the ancient Greek city of Cyrene and the Roman ruins of Leptis Magna.
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, notably functioning as a unified financial institution during the post-2011 civil war period despite the country’s political fragmentation.
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.
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 Revolution and served as a temporary seat of government. The city has faced significant damage and conflict in subsequent years.
Trade and Development Bank
The Trade and Development Bank (TDB) is a multilateral, treaty-based financial institution founded in 1985 to foster trade, regional economic integration, and sustainable development across its member states in Eastern and Southern Africa. It provides financing and advisory services to both governments and private sector entities, with its history rooted in the 1965 Treaty establishing the Preferential Trade Area, which later evolved into the Common Market for Eastern and Southern Africa (COMESA).
Al-Wahda Bank
Al-Wahda Bank is a major commercial bank in Libya, founded in 1970 as part of the country’s efforts to develop its national financial sector following independence. It provides a wide range of banking services and has played a significant role in Libya’s modern economic history.
Al-Jumhouria Bank
Al-Jumhouria Bank is a major state-owned commercial bank in Syria, originally established in 1967. It was formed through the nationalization and merger of several private banks to centralize the country’s banking sector under government control. The bank plays a key role in Syria’s financial system, providing a wide range of services to both the public and private sectors.
National Commercial Bank
The National Commercial Bank (NCB) is a major financial institution in Saudi Arabia, founded in 1953. It is historically significant as the first bank established in the Kingdom and has played a central role in the country’s economic development.
Al-Aman Bank
Al-Aman Bank is a Jordanian financial institution established in 2010, notable for being the first bank in the country dedicated to providing Islamic banking services in accordance with Sharia principles. It was founded to offer an alternative to conventional banking, focusing on profit-and-loss sharing and avoiding interest-based transactions.
Al-Sahari Bank
Al-Sahari Bank is a prominent financial institution in Yemen, historically known for its role in facilitating trade and economic activity within the country. It has been a key part of the Yemeni banking sector, though its operations have faced significant challenges due to the ongoing political and economic instability in the region.
Al-Waha Bank
Al-Waha Bank is a financial institution based in Libya, established in 2003 as part of the country’s economic liberalization efforts. It operates as a private commercial bank, providing a range of services and contributing to the development of the Libyan banking sector.
Islamic Bank
The Islamic Bank is a financial institution that operates in accordance with Islamic law (Sharia), which prohibits interest (riba) and promotes risk-sharing and ethical investments. Its modern history began in the 1970s with the establishment of pioneering institutions like the Islamic Development Bank, aiming to provide an alternative financial system for Muslim communities. Today, it represents a significant and growing sector within global finance.
North Africa Bank
The North Africa Bank is a financial institution established to support economic development and integration across North African nations. Its history is tied to regional cooperation efforts, often involving member states like Morocco, Tunisia, and Algeria, to foster investment and stability in the Maghreb region.
Al-Muttahid Bank
Al-Muttahid Bank is a commercial bank in Yemen, established in 2003 through the merger of two older banks, Al-Ahli Bank and the Islamic Bank of Yemen for Finance and Investment. It operates as a key financial institution within the country, offering a range of services including Islamic banking.
Al-Nouran Bank
Al-Nouran Bank is a financial institution based in Egypt, primarily known for providing Islamic banking services that comply with Sharia principles. It was established to offer an alternative to conventional banking by focusing on profit-sharing and interest-free financial products within the Egyptian market.
Al-Saray Bank
Al-Saray Bank is a historic commercial building located in the heart of Baghdad, Iraq, originally constructed in the late 19th century during the Ottoman era. It served as a key financial and administrative center and is noted for its distinctive architectural style, blending Ottoman and local design elements.
Special Drawing Rights (SDR)
Special Drawing Rights (SDR) is an international reserve asset created by the International Monetary Fund (IMF) in 1969 to supplement its member countries’ official reserves. Its value is based on a basket of five major currencies: the U.S. dollar, euro, Chinese renminbi, Japanese yen, and British pound sterling.
