Libyan Dinar

Libyan Dinar

Libyan Dinar overview

The dinar (Arabic: دينار‎ dīnār) is the currency of Libya. Its ISO 4217 code is "LYD". The dinar is subdivided into 1000 dirham (درهم). It was introduced in September 1971 and replaced the pound at par. It is issued by the Central Bank of Libya, which also supervises the banking system and regulates credit. In 1972, the Libyan Arab Foreign Bank was established to deal with overseas investment. Ali Mohammed Salem, deputy governor of Central Bank of Libya stated the exchange rate of Libyan dinar would be pegged to special drawing rights for one to three years, according to an interview to Reuters on 27 December 2011.

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Libyan Dinar news

UN envoy wants Libya election by June 2019
UN envoy wants Libya election by June 2019

The UN envoy for Libya Ghassan Salame has expressed the hope that another attempt to hold an election will take place by June next year.

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Libya's December elections quietly dropped from agenda

The UN representative will now focus on a national conference next year and economic reform

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Libya commander Haftar visits Russia ahead of conference

MOSCOW: Russia’s Defense Minister Sergei Shoigu met Libyan commander Khalifa Haftar in Moscow on Wednesday, Russian media reported, signalling Kremlin support ahead of a conference aimed at settling the north African country’s years of strife. Russia’s military has long shown backing for the powerful Libyan commander, who dominates eastern Libya.   He has visited Russia

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West, UN bury December plan for Libya poll

France UN had set date for elections in December

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Exclusive: U.N., Western powers quietly bury December plan for...

The United Nations and Western powers have given up hope that Libya will hold elections in the immediate future, focusing on reconciliation first among rival factions locked in a cycle of conflict, diplomats and other sources said.

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Libya shelves plans for December elections as fighting between rival militias intensifies

The United Nations and Western powers have given up hope that Libya will hold elections in the immediate future, focusing on reconciliation first among rival factions locked in a cycle of conflict, diplomats and other sources said.

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CORRECTED-Libyan state oil firm demands pay increases for oil workers

(Corrects oil production to 1.25 million bpd in 5th paragraph)

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Barrack Obama Was Very Wrong About Muammar Gaddafi
Barrack Obama Was Very Wrong About Muammar Gaddafi

Barack Obama said Gaddafi’s murder as a warning to "authoritarian leaders" saying that "iron-fisted rule inevitably comes to an end.” Despite his flaws, these words doesn't sum up Gaddafi's legacy.

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Waste: The hidden treasure

For Matilda Payne, founder of My Extreme Deco, waste is the new gold. Her small Ghana-based enterprise has found a way to valorize waste in an unexpected and creative way

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Libya will reduce fee on FX transactions if rate gap narrows
Libya will reduce fee on FX transactions if rate gap narrows

TRIPOLI, Oct 10- Libya will gradually reduce a fee of 183 percent on foreign currency transactions once a spread between official and black market.

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