US Dollar Depreciates Against Libyan Dinar

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The US dollar fell against the Libyan Dinar (LYD) in Libya’s black market on Tuesday, reaching 6.070 LYD.

The Euro was also in decline, losing the gains it made over the last four days. It now stands at 6.60 LYD.

The Pound Sterling also decreased, reaching 7.55 LYD.

The Turkish lira traded for 0.84 LYD, while the Tunisian Dinar at 2.08 LYD.

A number of factors have taken a toll on Libya’s economy recently, such as a decline in Libya’s oil production, the global fall in oil prices as a result of the global COVID-19 pandemi, and the effects of a prolonged conflict.

These factors continue to severely undermined the country’s fiscal revenue and economic growth.