Libya Applies Unified Exchange Rate for LYD

The Central Bank of Libya (CBL) started on Sunday applying the unified exchange rate agreed last month. The price of the Libyan dinar against the SDRs becomes 0.1555, meaning that the USD is equivalent to 4.48 dinars.

According to CBL, the new rate will be applied to all governmental, commercial, and personal purposes and uses of foreign exchange.

The foreign exchange will be sold for personal purposes by banks to the citizen, starting from the age of 18 years. The maximum transfer amount per person will be $2000.

For the study purpose, the maximum amount transferred will be $ 10000. It is required to submit an invoice for the study costs issued by the educational institution and approved by the Libyan embassy. The transfer will be only made directly to the institution’s account.

For the purpose of the treatment abroad, the maximum transfer will be $20,000. It is required to submit an invoice for treatment costs within a period not exceeding 3 months from the issuance of the treatment documents. The transfer must be made directly from the patient's own account or one of his first degree relatives to the account of the hospital or the account of the treatment center account curative.