Libya Central Bank injects $6 billion to stabilize dinar exchange rate
via Libya Herald2 min read
The Central Bank of Libya CBL injected approximately US$6 billion in foreign currency during May and June 2026, equivalent to about 38 billion Libyan dinars, to cover market needs. A senior CBL source stated that the dinar was trading at LD 8.50 per USD in the black market, significantly higher than the CBL's target of around 6.90 and the official LD 6.60 exchange rate. The CBL is monitoring the foreign exchange market daily, noting relative stability despite speculative activity driven by rumors related to political and financial developments and oil prices. The source explained that parallel market movements do not necessarily reflect fundamental economic indicators, emphasizing that the dinar's strength is linked to oil production, prices, public finance management, government spending control, and income diversification. The CBL's role is to manage and stabilize the exchange rate in line with economic strength and resources, with the national currency's true value tied to overall economic performance. The bank is implementing measures to strengthen market stability, including expanding foreign currency channels, addressing distortions, and introducing new instruments to meet demand. Further actions are planned with relevant authorities to curb unjustified speculation, enhance banking sector confidence, and support exchange rate stability. Despite these efforts, queues were observed outside banks distributing cash dollars, and some sources complained about the slow distrib
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