For anyone interested in current LYD exchange rates:

140POSTS

15 years ago

At the Egyptian border the rate is 1.56 LYD per US dollar. On the black market here in Benghazi the rate is anywhere between 1.7 to 2 LYD to a dollar (depends on your negotiating skills really). The black market can be found in the "Souk al-Jareed" neighborhood. Take care when going there though as it is one of the older, poorer parts of the city. The rate used by Western Union (which is still working normally)is 1.3:1.

For those folks who left and still have a bunch of dinars: I'd hold on to them for awhile. They may not be worth much to you know now but they might just be worth something a year or two from now.

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Palachakh Contributor

185POSTS

15 years ago

Thebigtuna wrote:
...For those folks who left and still have a bunch of dinars: I'd hold on to them for awhile. They may not be worth much to you know now but they might just be worth something a year or two from now.

If there are dinars after NATO crushes the country and puts up their puppet government...

rizwanch Active member

36POSTS

15 years ago

Hi,

The exchange rate has become bad and will be worst with days passing unrest and after normalization the rate will be same again 1:25 LYD = 1 USD.
So if you are keeping them to get some good exchange rate, forget it. At the same time cash is getting rare so it is recommended to keep the currency in hand. And for those who are leaving back to home and planning to come back after crisis should keep some money in hand as it will helpful upon their return.
LYD will remain the currency.

Good luck

Regards,

Rizwan Ch.

GISgirl Contributor

103POSTS

15 years ago

Hi BT,
I'm still here in the US but will be coming back within the next month or two. Hope all is well with you in BG. Got a couple questions in relation to your post: (1) You said Western Union is open... If someone sends money from the US to BG is there cash to distribute on the Benghazi side? The reason that I ask this is because I have heard that the banks there are rationing money and not letting people withdraw a lot from local accounts. Which leads to question (2) While I was there I didn't have any trouble withdrawing money via ATM from my Bank of America account .... Do you know if that is that still possible and if so what are the limits?

Thanks

fatmakumru Active member

88POSTS

15 years ago

more questions:
what are the chances of withdrawing previously deposited LYDs
a)these days (say from BG)
b)sometime later once the conflict is over?
In other words what are the chances that Libyan banks would honor previously deposited LYDs?
It might be seen highly inconsidered to think about one's money at the bank rightnow, as Libyans are trying to survive... but sometimes I feel like sending out one of those mass e-mails :"dear sir, I am a former primeminister of a small country in Africa, if you deposit some $$$ in my bank account I'll send you all my information for this Libyan bank so that you can get hold of the money I left behind..".. Bad joke, very bad joke, I know.. but my question whether the banks would eventually honor the existing accounts is very serious.
any ideas?
fk

mancunian Contributor

119POSTS

15 years ago

They should be fine, Banks are still working normally although there is a shortage in cash. few weeks ago before leaving Tripoli I went to my bank and i was able to withdraw a 1000 LYD normally.
I believe banks will keep your money safe unless you are from one of the counties that turned against gaddafi so u expect anything. but if it is some ordinary Libyan's account I think the money are safe.

fatmakumru Active member

88POSTS

15 years ago

thanks mancunian
obviously we are not libyans, so you mean we need to forget our bank account in Tripoli? have you heard anything like freezing the bank accounts of NATO citizens or something like that? I am not talking about millions of LYDs here, but still..
fk

mancunian Contributor

119POSTS

15 years ago

I did not mean to forget about your money. But I think with gaddafi and his men still in control of Tripoli's financial issues, you expect any action from them, but they might not take any action.
The good thing is gaddafi is leaving the country sooner or later after what he did. Therefore, foreign people's assets and money should be safe and returned after the new government takes control.

douglas1969 Contributor

169POSTS

15 years ago

#10

GISgirl wrote:
I'm still here in the US but will be coming back within the next month or two.

you are not going to be going back to libya for a long time. the country is being bombed back into the stone ages. the libyan gravy train is finished.

GISgirl Contributor

103POSTS

15 years ago

#11

From leveled stone and drifting ash mixed with sand and the blood of all souls lost, she will rise beautiful and sanguine on the backs of all those who love her.
Rest assured my return is imminent.

douglas1969 Contributor

169POSTS

15 years ago

#12

GISgirl wrote:
From leveled stone and drifting ash mixed with sand and the blood of all souls lost, she will rise beautiful and sanguine on the backs of all those who love her.
Rest assured my return is imminent.

not if the wicked salary isn't there anymore. ;-)