People shop at a market in the old city of Tripoli, Libya November 24, 2018. REUTERS/Hani Amara
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After a month strolling the gold market in Tripoli, retired public servant Milud Farhat was unable to find any jewelry he could afford for his daughter's wedding.To tackle this "war economy," Tripoli's internationally recognized government in September effectively devalued the exchange rate to 3.9 dinars per dollar from 1.3 .That cut the black-market rate from 6 to 5.2, which shoppers and traders said had slightly eased prices for food and other goods, many of which are imported.But for Farhat, who lives on a pension of 400 dinars per month, it made little difference. To undermine street dealers based just behind the Tripoli central bank headquarters and gold merchants doubling as currency traders, authorities slapped a 183 percent fee on commercial hard currency deals in September, moving the rate to 3.9 .
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