The Central Bank of Libya set the dinar at 6.3759 per U.S. dollar on Sunday, implementing a 14.7 percent devaluation of the national currency, Reuters reported. This follows a previous adjustment in April 2025, when the dinar was devalued by 13.3 percent to 5.5677 per dollar.

The bank attributed the latest move to multiple economic pressures, including declining oil revenues amid lower global prices, rising public spending, and the absence of a unified general state budget. Officials also pointed to the continuing impact of political divisions across the country.

Libya’s economy, heavily reliant on oil, has faced instability since the 2011 NATO-backed uprising. By 2014, the nation had split into eastern and western regions, each governed by rival administrations, complicating efforts to maintain steady revenue flows.

The oil sector remains central to Libya’s financial stability, yet fluctuating production and global prices have made consistent income difficult to sustain. The central bank’s announcement signals a continuation of measures aimed at addressing these long-standing challenges.