Our source has obtained a circular issued by the Central Bank of Libya to exchange companies and exchange offices outlining the regulations for selling foreign currency to individuals, setting a cap of 70% for purchases carried out through these companies.
The circular stipulates a commitment to sell up to $8,000 per year, excluding the amounts allocated for specific purposes: $2,000 for personal purposes, $10,000 for medical treatment, $7,500 for study, and $3,000 per year for foreign workers, provided this does not exceed $300 per month for foreigners working in both the public and private sectors. No foreign currency transaction may be carried out outside the unified electronic platform.
The maximum profit margin from selling foreign currency is set at 4%, added to the purchase price from the Central Bank of Libya. The selling price to customers shall reflect a 4% margin for cash payments, and a 2.5% margin for payments made via cheques, bank transfers, and electronic payment methods.
