The exchange rate of the US dollar against the Libyan dinar recorded an increase during mid-session trading in the parallel market this Saturday, reaching 8.86 dinars, compared to 8.82 dinars at Thursday’s close.
The Euro also rose to 10.19 dinars compared to 10.13 dinars on Thursday, while the British Pound saw a relative increase to 11.650 dinars, up from 11.60 dinars at the previous close.
The Turkish Lira remained stable at 0.200 dinars, and the Tunisian Dinar held steady at 2.77 Libyan dinars. Meanwhile, the price of 18-karat gold bullion jumped to 946 dinars per gram, compared to 923 dinars at Thursday’s close.
In the official market, the exchange rate for the US dollar rose to 5.42 dinars according to the exchange rate bulletin issued by the Central Bank of Libya for Thursday. In contrast, the Euro saw a slight decline to 6.32 dinars, and the British Pound decreased to 7.28 dinars.
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.
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.
British Pound
The British Pound, officially known as Pound Sterling, is the world’s oldest currency still in use, with origins tracing back to Anglo-Saxon times. Its name derives from the Latin “libra,” a unit of weight, and it was first established as a form of currency with the introduction of the silver penny around 775 AD.
Turkish Lira
The Turkish Lira (₺) is the official currency of Turkey and the Turkish Republic of Northern Cyprus, introduced in 1923 to replace the Ottoman lira following the foundation of the Republic of Turkey. It has undergone significant revaluations and redenominations, most notably in 2005 when a “new Turkish lira” was introduced by removing six zeros from the old currency due to a history of high inflation.
Tunisian Dinar
The Tunisian dinar is the official currency of Tunisia, introduced in 1960 to replace the Tunisian franc as part of the country’s post-independence economic reforms. Its creation was a key step in establishing monetary sovereignty following Tunisia’s independence from France in 1956.
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 impacted and divided by the political conflicts since 2011.
