Family dollar relief grant relaunched

The family dollar grant is a system launched by the Central Bank of Libya (CBL) in 2017 to sell 400 US dollars ( later increased to 500 ) to every family member in Libya at the official exchange rate to combat the climbing exchange rates of the black market.

The head of each household is allowed to buy the dollars either using cash or money already in their bank account and if the dollars are not cashed out during the year they are issued, they remain in the account for as long as the owner pleases to be withdrawn later.

Meanwhile, the Joint Technical Committee, formed by the Board of Directors of the Central Bank of Libya, completed its deliberations regarding the unification of exchange rate and submitted their final report to the board to be reviewed.

After holding their first unified meeting in six years, sources have confirmed that the Central Bank’s board of Directors have collectively agreed to meet next week on Thursday to announce a decision to the unification of the official exchange rate.

Since the unified meeting of the board of directors, the exchange rate on the black market has been in a steady decline, dropping to 5.50 today.