Libya Allocates $2 Billion to Stabilize Dinar & Boost Liquidity: Central Bank
Libya Allocates $2 Billion to Stabilize Dinar & Boost Liquidity: Central Bank
On Sunday, Central Bank of Libya Governor Naji Issa chaired a meeting to review monetary and financial developments and approve measures aimed at reinforcing monetary stability, supporting exchange rate stability, and improving banking services.
The $2 billion allocation:
$1 billion to finance letters of credit during the coming week.
$1 billion for personal foreign exchange transactions and reservations through the bank’s electronic platform.
Domestic cash liquidity:
To address domestic cash liquidity needs, the Central Bank approved the first phase of the August Cash Liquidity Plan, under which ~$783 million will be injected into commercial banks to meet citizens’ demand for cash.
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