The exchange rate of the US dollar against the Libyan dinar recorded a continuous rise during mid-session trading in the parallel market on Wednesday, reaching 8.57 dinars, compared to 8.54 dinars at the close of yesterday’s session.
The euro also rose to 9.90 dinars compared to 9.85 dinars yesterday, and the British pound climbed to 11.20 dinars after being 11.10 dinars at the previous close.
The Turkish lira stabilized at 0.200 dinars, while the Tunisian dinar remained stable at a higher level of 2.77 Libyan dinars. Meanwhile, the price of 18-karat gold bullion jumped significantly to 900 dinars per gram, compared to 890 dinars at yesterday’s close.
In the official market, the exchange rate for the US dollar declined to 5.41 dinars, according to the exchange rate bulletin issued by the Central Bank of Libya for Tuesday. The euro rose to 6.37 dinars, and the British pound increased to 7.29 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 the mid-20th century.
Libyan dinar
The Libyan dinar is the official currency of Libya, introduced in 1971 to replace the Libyan pound. Its issuance and value have been heavily influenced by the country’s political history, including the Gaddafi era and the instability following the 2011 revolution.
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.
British pound
The British pound, officially known as pound sterling, is the world’s oldest currency still in use, with origins tracing back over 1,200 years to Anglo-Saxon times. It was historically linked to silver and later gold, and it remains the official currency of the United Kingdom and several British territories.
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 revaluations, most notably in 2005 when the “new Turkish lira” removed six zeros from the old currency.
Tunisian dinar
The Tunisian dinar is the official currency of Tunisia, introduced in 1960 to replace the Tunisian franc. Its establishment was a key step in the country’s post-independence economic policy, symbolizing national sovereignty following independence from France in 1956.
gold bullion
Gold bullion refers to refined gold in bar or ingot form, valued by its weight and purity. Historically, gold has been used as a store of wealth and a medium of exchange for thousands of years, with the standardized bullion form becoming central to global financial systems and gold reserves.
Central Bank of Libya
The Central Bank of Libya is the primary monetary authority of Libya, established in 1956 following the country’s independence to manage its currency and financial policy. It has played a critical and often contentious role throughout Libya’s modern history, including during the Gaddafi era and the subsequent periods of conflict, as it controls the state’s vital oil revenues and foreign reserves.
