Sat. Sep 14th, 2024

The Libyan currency is ranked second among the strongest currencies in the African continent for the year 2024, according to a report by the English-language “Nigerian Tribune” newspaper.

In a classification that included the top ten currencies on the continent, the Libyan dinar came ahead of the Tunisian dinar, which topped the list.

The report stated that these currencies were able to achieve a degree of stability and confront inflation in their countries, which enhances the prospects of attracting more foreign investments.

Currencies such as the Moroccan dirham, the Botswana pula, the Seychelles rupee, the Eritrean nakfa, the Ghanaian cedi, the South African rand, the Zambian kwacha, and the Egyptian pound came in later ranks behind the Libyan dinar.

The Libyan dinar was issued in 1971 to replace the Libyan pound, and it is linked to the Special Drawing Rights basket established by the International Monetary Fund in 1969 to supplement the official reserves of member states.

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