Libya devalues currency for first time in four years amid fiscal strain
Libya’s central bank announced a 13.3% devaluation of the dinar setting, a new official exchange rate of 5.5677 to the U.S. dollar. Libya’s central bank devalued the dinar by 13.3% to 5.5677 to the U.S. dollar. The parallel market rate for the dinar is much lower at 7.20 to the dollar. A power struggle over…