The Central Bank of Libya revealed exclusively to our source that it signed a new contract yesterday with a printing company worth 30 billion Libyan dinars in the 20-dinar denomination, in addition to previous contracts worth 60 billion currently being supplied. The bank expects total incoming currency this year to reach 70 billion dinars, with the possibility of introducing a new 50-dinar denomination.
According to the Central Bank, this comes after the success of its electronic payment development plan and efforts to withdraw counterfeit banknotes that had been putting additional pressure on the dollar exchange rate. It also confirmed that the dollar exchange rate through checks and transfers will soon become cheaper than cash.
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