U.S. dollar drops to 3.93 against Libyan dinar in black market: media
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E-mail Xinhua, November 20, 2019
TRIPOLI, Nov. 20 (Xinhua) -- The exchange rate of U.S. dollar in the Libyan black market has fallen to 3.93 against Libyan dinar, Alwasat news site reported Wednesday.
The exchange rate of U.S. dollar had remained above four dinars until recently, according to Alwasat.
The UN-backed Libyan government has taken several procedures to reduce the exchange rate of foreign currencies against the Libyan dinars in the black market, including introduction of taxes on foreign currency sale in local banks.
The official exchange rate of U.S. dollar against Libyan dinar, according to the Central Bank of Libya, is one dollar to 1.4 dinar, plus a tax of 163 percent.
Libya's income depends mainly on crude oil sales. The country currently produces 1.25 million barrels per day, according to the state-owned National Oil Corporation. Enditem
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