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CAIRO: Libya’s central bank announced a 13.3% devaluation of the country’s dinar currency on Sunday, setting the exchange rate at 5.5677 to the US dollar effective immediately.

This is the first official devaluation since the bank agreed to a devalued exchange rate of 4.48 dinars to the dollar in 2020.

The parallel market exchange rate is currently at 7.20 dinars to the dollar.

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