The Media Bureau in the Central Bank of Libya unveiled the reasons behind the rocketing of dollar prices in exchange of the Libyan dinar in the black market.

The Bureau indicated that the stoppage of oil production for more than a year has had a direct effect on the payments to Libyan government, adding that since the end of 2013, there has been a restriction on exporting foreign currency due to the lack of security and the unsettled political situation in Libya.   

“In August 2013, the CBL raised the red flag, which referred to the deterioration of the economic situation in the country.” Disclosed the Bureau, pointing out that it had informed all authorities of those backdrops, indicating that such troubles are the reason why Libya’s economy is going down and the prices of currencies and commodities are rocketing in the black market.”