The Central Bank of Libya told our source exclusively that it continues to process reservations for personal foreign currency allocations, with total reservations reaching approximately $665 million as of today, Wednesday. The Bank is set to begin selling these amounts to eligible beneficiaries starting next Sunday.
The Bank also confirmed that it is continuing to grant approvals for opening letters of credit, which have exceeded $1.7 billion in total value. It further noted that execution and sales to commercial banks have reached $600 million for new letters of credit.
In addition, the Central Bank has begun implementing the financing of amounts to correspondent banks of commercial banks for letters of credit whose documents have already been processed, at an exchange rate of 6.30 LYD per USD.
