Corruption, Savagery Make Libyan Currency Worthless

The head of Libya's National Oil Company (NOC), the new 'face' of rationality (at least that is how he's being propped up by the West) is saying that the Libyan dinar is now completely worthless against the dollar because of corrupt politicians and 'savage' militias who have hijacked everything. So anyone thinking that Libya's going to have some sort of revival just because they've managed to get oil pumping again should think twice. This is going to go back and forth for some time. At once a threat to the supply glut, and then not ... 

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Google shows 1USD = 1.33 Libyan dinars. Back in April, $1 = 8.3 dinars, and reportedly was at a record low at that time. however, at that time, the official exchange rate was $1 to 1.4. (I don't understand this).

I would think that the oil flowing again would improve their currency somewhat, corruption or no. 

 

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