The Central Bank of Libya (CBL) has announced its readiness to sell $600 million to commercial banks starting tomorrow, in a move aimed at easing pressure on the foreign exchange market and improving access to hard currency for citizens and importers.
In an official statement, the bank said that the funds will be used to settle outstanding personal foreign exchange allocations and to reopen the documentary credit system for approving new import requests for goods. The measure is part of ongoing efforts to stabilize the market and ensure the steady supply of essential commodities.
The Central Bank explained that the operational rollout will begin next week through licensed exchange companies and exchange offices. These entities will handle reservations related to personal foreign currency allocations for 2026, allowing citizens to access their allowances through regulated channels rather than the parallel market.
Officials noted that the decision is designed to curb speculation, reduce demand in the black market, and narrow the gap between official and parallel exchange rates. By increasing the availability of foreign currency through official mechanisms, the bank aims to restore confidence in the financial system and strengthen monetary discipline.
The Central Bank stressed that this step forms part of a broader strategy to regulate foreign currency use, improve liquidity management, and protect purchasing power. It added that coordination with commercial banks will continue to ensure transparent implementation and fair access to funds.
