Libya Central Bank to Inject Foreign Currency

The Central Bank of Libya will inject foreign currency into the market in the coming days. Officials state this action aims to stabilize the exchange rate and increase liquidity immediately.

The Libyan dinar traded at 9.65 per dollar on the black market today. This rate significantly exceeds the official target of under 7.00 set by Governor Naji Issa.

Exchange rate far from target

The current black-market price violates the five percent margin promised by the bank. The gap between official and street rates remains a critical structural issue for traders.

A source at the Central Bank told the Libya Herald that the injection follows improved oil revenues. The bank claims these economic gains support the stability of the national currency.

London meetings influence policy

Governor Issa held meetings in London with the Bank of England and the Foreign Office. These talks may have shaped the recent agreements with international financial partners mentioned by the source.

The bank cites agreements with economic partners as a key driver for the new measures. It remains unclear if these refer to domestic spending deals or international banking cooperation.

Deficit control remains priority

The Central Bank emphasizes maintaining adequate foreign currency reserves for long-term financial stability. It is working to keep the fiscal deficit within specific limits through year-end.

Recent media campaigns to support the dinar have not yet succeeded in meeting targets. The bank continues to prioritize monetary stability despite the persistent pressure on exchange rates.