The Libyan Central Bank started Sunday implementing the new exchange rate of the Libyan dinar to be 4.48 per 1 US dollar.

The Central Bank of Libya said the new exchange rate will be used for all purposes; government, trade or personal uses, adding that only 18 years old or above individuals can buy foreign currency from banks which will allow each illegible citizen 20.000 dollars per year.

Meanwhile, the Presidential Council issued Sunday morning a statement suspending the 2018 decision of imposing fees on dollar purchase transactions at commercial banks for three months, adding that the period could be extended, conditioning the suspension to the implementation of the new exchange rate by the Central Bank of Libya.