Central Bank of Libya Executes $2.1 Billion in Foreign Currency Sales in Early December

Tripoli: The Central Bank of Libya reported that, from the beginning of December until the 16th of the same month, it executed foreign currency sales transactions totaling approximately $2.1 billion. These transactions included letters of credit, remittances, personal transfers, and small merchant cards. The bank explained that the value of executed letters of credit reached $1.5 billion, while remittances amounted to $164.8 million, personal transfers to $334.3 million, and small merchant cards to $50.4 million. The bank also noted that there are outstanding obligations of $1.9 billion related to letters of credit and remittances. According to Libyan News Agency, the bank confirmed in a statement published on its official page today, Thursday, that it continues to conduct regular foreign currency sales to meet market needs. It explained that the increases in the exchange rate on the parallel market are due to speculative activities, in addition to the tightening of audit procedures and anti-money laundering and counter-terrorism financing controls that have been in effect since November 2025. The statement also indicated that oil revenues during the same period did not exceed $410 million, calling on the relevant ministries and authorities to take the necessary measures to curb irregular import operations and the entry of goods through the black market without oversight or monitoring of the sources of funds.