By Libya Herald reporter.
Tripoli, 10 November 2015:
A group of Indian staff working at clinics in Jalu oasis district in eastern Libya has . . .[restrict]quit, according the Libyan news agency LANA, because they cannot convert their salaries to hard currency and send them to their families back home.
The group includes both doctors and nurses.
The problem is affecting foreigners all over the country as well as Libyans needing to send money abroad.
With banks no longer providing facilities to do so and both Western Union and MoneyGram no longer operating in Libya, anyone wanting to move hard currency abroad has had to rely on the black market. But that route is now under threat by militants angry at the massive drop in the value of the dinar.
Social media reports that the Central Bank of Libya plans to allow Western Union and MoneyGram to reopen, working on an exchange rate of LD 1.37 to the US dollar appear to be just rumours. There has been no confirmation from the CBL.
It is said that the bank wants the money transfer companies to reopen as of 20 November, the aim being to undercut and hit black market dealers in the capital.
The Tripoli black market rate has dropped from a high of LD 3.74 for a dollar to LD 3.30. On the Tobruk black market, however, a dollar is worth LD 2.30. [/restrict]