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Illicit banknotes in east Libya, some made by Russia, hit dinar
https://www.reuters.com/markets/currencies/illicit-banknotes-east-libya-some-made-by-russia-hit-dinar-2024-07-24/Illicit banknotes in east Libya, some made by Russia, hit dinar
By Maya Gebeily and Angus Mcdowall
July 24, 2024 2:40 AM EDT Updated 7 hours ago
Summary
July 24 (Reuters) - Unofficial Libyan banknotes have been exchanged for real dollars and contributed to the dinar's devaluing, three sources familiar with the matter told Reuters, adding that some notes were printed by Russia and exported to eastern Libya this year while others were printed illicitly within Libya.
[...]
By Maya Gebeily and Angus Mcdowall
July 24, 2024 2:40 AM EDT Updated 7 hours ago
Summary
- Unofficial notes imported or printed locally, sources say
- Notes exchanged via black market or local banks, they say
- Money spent on public works in east after floods, Libyan sources say
- Cash may also fund Russian mercenaries, diplomatic source says
July 24 (Reuters) - Unofficial Libyan banknotes have been exchanged for real dollars and contributed to the dinar's devaluing, three sources familiar with the matter told Reuters, adding that some notes were printed by Russia and exported to eastern Libya this year while others were printed illicitly within Libya.
[...]