Libya cuts customs dollar rate to LD 2.12
The Ministry of Finance reduced the rate used for import duties from LD 4.80 to LD 2.12 per US dollar.
Libya's Ministry of Finance issued a directive last Tuesday, November 3, to lower the Customs Dollar exchange rate for imported goods. The rate has been set at 2.12 Libyan dinars per US dollar, a significant decrease from the previous rate of 4.80 Libyan dinars.
This temporary measure, announced via official directive, aims to adjust the calculation of duties on imported goods. The Ministry of Finance stated this change is pending the resolution of existing issues related to the rate.
The directive suspends Resolution No. (160) of 2026, which previously governed the Customs Dollar exchange rate. This adjustment impacts the cost of importing goods into Libya.
Why it mattersThe reduction in the Customs Dollar rate will lower the cost of imported goods for businesses and consumers in Libya.