The Central Bank of Libya announced today that it has devalued the Libyan dinar by 14.7 percent from approximately LD 5.43 to LD 6.36 per US$.
The CBL had last devalued the Libyan dinar by 13.3 percent to LD 5.56/dollar on 6 April 2025.
It said today’s devaluation against the Special Drawing Rights (SDR) was based on the recommendations of the Monetary Policy Committee. As a result, each Libyan dinar will now be equivalent to 0.1150 SDRs instead of 0.1348 SDRs.
Official Foreign Exchange Bureaux’s profit margins
The CBL also announced that the recently approved and soon to go into operation official Foreign Exchange Bureaux will be permitted to add a maximum margin of 4% to this rate for cash sales.
A 2.5% surcharge will be added for FX sales by cheque or bank transfer, meaning the selling price for the US$ using this method will be lower than the cash selling price.
The CBL said this decision comes amidst:
– the continued absence of a unified national budget
– the unsustainable growth of public spending
– the ongoing duplication of expenditures (by the eastern Libyan regime) outside of official financial frameworks.
– the continued political division and its negative repercussions on the economic conditions
– international economic variables especially the decline in oil prices in the global markets and the resulting decline in oil revenues.
Some of these put pressure on the financing and absorptive capacity of the national economy, which necessitated taking a package of measures to maintain financial and monetary stability and ensure the sustainability of public resources.
.
