TRIPOLI, April 10 Libya's dinar has slid to
record lows on the parallel market, traders said on Monday, as
scarcity of foreign currency drove the price of a dollar up to
The dinar has steadily weakened on the flourishing informal
market as a U.N.-backed government that arrived in Tripoli a
year ago has failed to stabilise the country politically or
Oil production, which is the only significant generator of
dollar revenue and national income, has recovered somewhat, but
not sufficiently to offset high rates of spending on state
salaries and subsidies.
For most of last year $1 cost 4-6 dinars on the parallel
market. The official exchange rate is 1.4 dinars to the dollar,
which the central bank in Tripoli has maintained despite some
economists and politicians urging it to devalue.
(Reporting by Ahmed Elumami; Writing by Aidan Lewis; Editing by