News In Brief
Libyan economist predicts Libyan dinar will regain its strength against dollar
Libyan economist and founder of the Libyan Stock Market, Suleiman Shahoumi, has attributed the rise in the dollar price on the black market to non-Libyan currency traders who are holding Libyan currency on the borders, and that the current confusion in the market may be leading them to get rid of their dinar stock.
Shahoumi stated on his Facebook page that the Central Bank of Libya is well able to cover the demand for foreign currency.
He expressed optimism that the dinar value would be improved, saying that the currency traders should know that the price of currency that rises by speculation will inevitably collapse and that the most important issue now is the decline in the price of commodities and food stuffs, which will in turn improve the ability of citizens to face inflation.