Libyan currency black market

[Matt Roach]

Hi,

The official exchange rate for the US$ to the Libyan Dinar seems to be about US$1:LD$1.4.

Does anyone know if a black market still exists and if the rates are any better than changing officially?

cheers

[Chris Scott]

As far as I know the black market - which used to be great - collapsed years ago. Now I think it is barely worth the risk, although I have not done it for a while.

Chris S

[Budrinna]

Welcome to the Great Arab Jamhiriyah .
No need now black market .
Bring € euro better change
Today 1€ = DL 1,66

Budrinna

[Matt Roach]

thanks for the info!

[kitmax]

On my last trip to Libya (November 05) the choice for exchanging money was:
1) Black market rate, in the street, near border from Tunisia, with no questions asked, no grief and no problems. Exchange rate was something around 1.4 Libyan Dinar/euro
2) Official market rate in the Libyan Customs Yard, which was probably much the same. But the transaction required
photostats of passport,
photostats of visa,
photostats of insurance certificate, carnet etc
and a load of similar paperwork.
“Where do I get a Photostat in the Customs Yard”?
‘Don’t know’, was the reply…
I was neither questioned nor searched on arrival in Libya. Perhaps it was prayer time…
I then spent 3 weeks tearing around Libya, where diesel is cheaper than bottled water, and bottled water is cheap!
I cashed 150 euros (£100) in Tunisia prior to entry, and had bunches of notes left over on my return.
Conclusion – unless you are making an investment in Libya, the black market (in Tunisia) simply serves to make a burocratic transaction easy. The exchange rate is almost the same in each country.


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Kitmax - Traveller
www.kitmax.com

[Chris Scott]

Thanks for the news Kit; business as usual then on the Tunisian border, even if the rate is no better.
I was told this way of buying dinars was never that 'black' anyway, which is why there are no searches for the obvious at the Libyan border.
The only problem I found with buying in Tunisia is that they (used to) make it more clandestine then it needs to be and while you're being encouraged to worry about being caught, they pull the Romanian Hand Trick on you and you get short-changed.

Chris S

[Budrinna]

Not now ! Go to any bank show the passport and give the € you will receive LD with the receipt change after filling trought compute your data . ( to keep with You for control at he exit) .
Employe may anyway do a fotcopy of the passport to stick with the internal copy.
Importing and exporting LD is prohibited.

Cheers Budrinna

[kitmax]

Hi Chris
We changed money in the main street in BEN GUERDANE, just after the roundabout. The town is about 33km from the Libyan border.
The dealer had a small shop selling everything from sardines to Libyan Dinars. He warned us against going to the shop next door – “he’s a CROOK,” he told us.
Ignoring his warning, my driving partner went to the shop next door… and received the same advice!
And an offer at the same rate too.
Long live free enterprise!
My euro notes were counted out on the bench. His Libyan Dinar notes were counted out for me to examine. I picked up his, and he picked up mine. The deal was done, nothing clandestine, and we shared a good humoured laugh between us.
The rate was, I recall, better than the 1.4 per Euro that I stated in my last post, it was around 1.65 I think.
Budrinna, I read you post with interest - next time I'll try it out. I guess my black-market system falls down when I try to change LD back into Tunisian Dinar. Under the circumstances, it wasn't necessary.
Regards


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Kitmax - Traveller
http://www.kitmax.com