Foreign exchange uses in January amounted to 1.525 billion dinars, says the Central Bank of Libya, noting an increase of 330 million dollars compared to last year's figures, which stood at 1.195, with a growth rate of 27.6%.

The bank disclosed in its recent report that the value of documentary credits in January 2023 amounted to $ 914.2 million.

The data shows an increase in the value of appropriations for personal purposes in January 2023, recording $ 593 million compared to last year's $ 394 million.

As for personal transfers, the value surpassed $18 million, compared to $ 10 million recorded in the same period last year.

Jumhouria Bank was the highest in foreign exchange uses among banks during January 2023, with a value of more than $ 206 million.

By January last year, the bank approved applications of 558 companies and factories out of 1,213 to cover documentary credits in foreign exchange.

The UAE came on top of the countries benefiting from documentary credits and remittances with a rate of 42.9%, followed by Turkey at 7.8% and South Korea at 6.7%.

Turkey also came at the top of banks’ requests to purchase foreign exchange in terms of the most important countries of origin for goods and services, with a value of more than $217 million, followed by Egypt at $174 million, then China with more than $103 million.