The Central Bank of Libya (CBL) revealed today that it is to inject one billion US dollars next week to finance documentary credits, in addition to allocating one billion US dollars for personal purposes and reservations through the system. It is also extending the working hours of banks to sell dollars in cash.
The CBL also revealed that, as part of its review of the local cash liquidity file, it is starting the implementation of the first phase of its August plan, which aims to inject 5 billion dinars to commercial banks to meet citizens’ liquidity needs.
Following up on the monetary and financial conditions and the progress of measures aimed at enhancing monetary stability and improving the efficiency of banking services
The revelations were the outcome of today’s extensive meeting of the Governor of the Central Bank of Libya, Naji Issa, in his Tripoli office with several department directors at the CBL.
Black-market Libyan Dinar exchange rate
The meeting discussed the developments in the exchange rate of the Libyan Dinar in the parallel market (LD 8.65 per dollar) and the adoption of a package of measures aimed at containing the increasing demand for foreign exchange, in a way that contributes to supporting the stability of the exchange rate.
Foreign exchange and documentary credits
The meeting also discussed the file of foreign exchange and documentary credits and stressed the need to speed up the procedures to ensure the smooth implementation of credit requests and meet the needs of the market.
e-payments
The e-payment file was also followed, and it was emphasized that any obstacles facing electronic payment companies and banks have been resolved, and that they should work to ensure the continuity and efficiency of payment systems, in support of the expansion of their use.