No Result
View All Result
Monday, January 30, 2023
13 °c
Tripoli
14 ° Tue
14 ° Wed
13 ° Thu
14 ° Fri
  • Advertising
  • Contact
LibyaHerald
 
  • Home
  • Libya
  • Business
  • Opinion
  • Magazine
  • Advertising
  • Login
  • Register
SUBSCRIBE
  • Home
  • Libya
  • Business
  • Opinion
  • Magazine
  • Advertising
  • Login
  • Register
No Result
View All Result
LibyaHerald
No Result
View All Result
Home Libya

Armed men shut down black market dealers as dinar plummets

byNigel Ash
July 21, 2016
Reading Time: 1 min read
A A
Armed men shut down black market dealers as dinar plummets

Hard times for hard currency deals in the Gold Market today (Photo: social media)

12
SHARES
50
VIEWS
Share on FacebookShare on Twitter

By Libya Herald reporters.

Hard times for hard currency deals in the Gold Market today (Photo: social media)
Hard times for hard currency dealers in Tripoli’s Gold Market today (Photo: social media)

Tripoli, 20 April 2016:

Armed members of the RADA security force this morning stopped  black market currency dealers from opening their doors in Tripoli.

Though the traditional money shops are in the old town, the clamp down also extended to the other main concentration of dealers in Dahra.

The move was clearly a response to the plunging value of the dinar/dollar rate which last night hovered around LD5.30.  The Central Bank of Libya’s rate is LD1.37. No rate has been quoted today but when the markets next produce a price, the dinar is likely to have declined still further.

RELATED POSTS

Top law firm joins new British Libyan Business Association

An academy with a difference in Tripoli

CBL officials quizzed over the enduring liquidity crisis, maintain that is at least LD20 billion in circulation that is not held within the banking system.  The argument is that the public do not trust  banks. Yet some bankers doubt the existence of such a huge overhang of cash being hoarded by businesses and private individuals.

Black market dealers always protest that their rates reflect the real value of the dinar, based on demand. This however overlooks the likelihood that many dealers simply do not want to sell their hard currency, even at current climbing rates.

 

Tags: black marketcurrency tradersDahrafeaturesGold MarketLibyaRadaTripoli
Share5Tweet3Share1

Related Posts

Prime minister Aldabaiba forms Ministerial committee to study reforming fuel subsidies, orders payment of family grant, increases pensions
Libya

PM Aldabaiba reviews GECOL’s summer plan to avoid power cuts

January 27, 2023
Benghazi University to hold open day on its Artificial Intelligence curriculum
Libya

Benghazi University to hold open day on its Artificial Intelligence curriculum

January 27, 2023
EU to help Libya better design and analyse policies and measure the impact of strategies
Libya

EU to help Libya better design and analyse policies and measure the impact of strategies

January 26, 2023
GNU to take oath at Benghazi HoR session and budget to be approved at Tripoli session: GNU
Libya

Aldabaiba government holds meeting to discuss bartered fuel imports in transparent process

January 26, 2023
Czech Republic training Libyan doctors discussed as part of ‘‘Medovac’’ agreement
Libya

Czech Republic training Libyan doctors discussed as part of ‘‘Medovac’’ agreement

January 24, 2023
Libya’s Audit Bureau signs cooperation agreement with its Spanish counterpart
Libya

Libya’s Audit Bureau signs cooperation agreement with its Spanish counterpart

January 20, 2023
Next Post
France denies air strikes on Benghazi Defence Brigades as Ghariani calls for protests against it

France denies air strikes on Benghazi Defence Brigades as Ghariani calls for protests against it

BDB column said to be in full retreat from Magroun

 

Advertise on LibyaHerald

Reach thousands of our site visitors daily

240 x 400px

Advertise Here
ADVERTISEMENT

Top Stories

  • Medsky Airways adds a second Airbus 320 to its fleet

    Medsky to start flights from Tripoli to Malta

    100 shares
    Share 42 Tweet 24
  • Libyan Iron and Steel (LISCO) exports to 38 countries – 136,000 tons to be exported in coming months

    65 shares
    Share 32 Tweet 14
  • Libya aims to consolidate and leverage its ICT services for export

    51 shares
    Share 20 Tweet 13
  • National Oil Corporation seeks to restart Ras Lanuf complex at full capacity

    50 shares
    Share 20 Tweet 13
  • Aldabaiba government holds meeting to discuss bartered fuel imports in transparent process

    48 shares
    Share 20 Tweet 12
LibyaHerald

The Libya Herald first appeared on 17 February 2012 – the first anniversary of the Libyan Revolution. Since then, it has become a favourite go-to source on news about Libya, for many in Libya and around the world, regularly attracting millions of hits.

Recent News

Eni signs US$ 8 billion EPSA gas development deal with Libya

LBBC announces a wide range of business activities for 2023 – including a visit to Benghazi

Sitemap

  • Why subscribe?
  • Terms & Conditions
  • FAQs
  • Copyright & Intellectual Property Rights
  • Subscribe now

Newsletters

    Be the first to know latest important news & events directly to your inbox.

    Sending ...

    By signing up, I agree to our TOS and Privacy Policy.

    © 2022 LibyaHerald - Powered by Sparx Solutions.

    No Result
    View All Result
    • Login
    • Sign Up
    • Cart
    • Libya
    • Business
    • Advertising
    • About us
    • BusinessEye Magazine
    • Letters
    • Features
    • Why subscribe?
    • FAQs
    • Contact

    © 2022 LibyaHerald - Powered by Sparx Solutions.

    Welcome Back!

    Sign In with Facebook
    Sign In with Linked In
    OR

    Login to your account below

    Forgotten Password? Sign Up

    Create New Account!

    Sign Up with Facebook
    Sign Up with Linked In
    OR

    Fill the forms bellow to register

    *By registering into our website, you agree to the Terms & Conditions and Privacy Policy.
    All fields are required. Log In

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In
    This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
    Are you sure want to unlock this post?
    Unlock left : 0
    Are you sure want to cancel subscription?