VOL. XLV
No 2
14-January-2002
LIBYA
Libya Devalues Dinar By Half,Attempting To Unify Foreign Exchange System
On 6 January the Libyan CentralBank said it had devalued the official dinar rate by around half to $1=LD1.3 from$1=LD0.65 in a step towards unifying its multi-tiered foreign exchange system.The central bank told Reuters thatthrough devaluation it also wanted to squeeze out the black market, boost thecompetitiveness of non-oil sectors in the economy, reduce price anomalies andincrease...
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