Illicit banknotes in east Libya, some made by Russia, hit dinar ...Kuwait

News by : (The New Arab) -
  Unofficial Libyan banknotes have been exchanged for real dollars and contributed to the dinar's devaluing, three sources familiar with the matter told Reuters, adding that some notes were printed by Russia and exported to eastern Libya this year while others were printed illicitly within Libya. The new banknotes have been described as counterfeit by the Central Bank of Libya (CBL) in Tripoli but are being changed into hard currency on the black market or through local banks, according to a source in Libya's eastern government, a Libyan banking source, and a diplomatic source. The money has been used to fund infrastructure projects in the east following last year's d

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