On Friday evening, the parallel market in Libya witnessed a notable stability in foreign exchange rates at high levels, according to the latest update at 8:00 PM.
The US dollar was recorded at 9.15 Libyan dinars, while the exchange rate for the British pound reached 12.00 dinars, and the euro stabilized at 10.61 Libyan dinars.
This stability at the highest level comes amid ongoing economic pressures and the decline in the value of the Libyan dinar against foreign currencies, reflecting a state of anticipation in the markets regarding any new movements that may affect exchange rates in the coming period.
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 sites include the well-preserved Roman ruins of Leptis Magna, a UNESCO World Heritage site.
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.
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 central feature of British economic and political history.
euro
The Euro is the official currency of the Eurozone, a monetary union of 20 European Union member states. It was introduced in non-physical form in 1999 and as physical banknotes and coins in 2002, aiming to foster economic integration and stability across Europe. Its history is directly tied to the Maastricht Treaty of 1992, which established the criteria for its creation.
Libyan dinar
The Libyan dinar is the official currency of Libya, introduced in 1971 to replace the Libyan pound. Its issuance is managed by the Central Bank of Libya, and its history is closely tied to the country’s political and economic changes, particularly following the discovery of oil.
