The board of directors of the Central Bank of Libya approved Wednesday the recommendations of the technical committee and endorsed the new exchange rate of the Libyan dinar (LYD) to US dollar (USD) to become 4.48 per 1USD starting January 03, 2021.

The decision was made in a meeting for the board of the Libyan Central Bank in which discussions centered on the recommendations of the technical committee, deciding to have the new fixed rate for all governmental, commercial, and personal uses.

The Central Bank of Libya also said in a statement after the endorsement of the new exchange rate that there will be more meetings in the coming weeks to resolve banking sector problems to achieve fiscal and financial stability that alleviates the suffering of the Libyan people.