The Deputy Governor of the Central Bank of Libya (CBL) Ali Al-Hibri said the Board of Directors decided to adjust the dinar exchange rate as per the law and its authorization, adding in a press conference on Thursday in Benghazi that the Board was appointed in 2011 by the Transitional Council and is still in place. Al-Hibri revealed talks on the “WhatsApp” application between him and CBL Governor Al-Siddiq Al-Kabir regarding the exchange rate adjustment, which the latter rejects, as he described, for economic and political reasons. Al-Hibri said, describing his WhatsApp conversation with Al-Kabir, adding that he had sent Al-Kabir the documents for dinar exchange rate adjustment and urged him for unifying the Board of Directors. Al-Hibri said he held a press conference to talk about the importance of adjusting the exchange rate of the Libyan dinar given the economic impact on people and other relevant risks to the state's economy. CBL Board of Directors, without the Governor Al-Kabir, met on October 03 in Benghazi and decided to adjust the dinar exchange rate for 4.48 dinars to the US dollar to 4.26 dinars.

Source: Libya Observer October 21, 2022 05:33 UTC