Currency - Libyan dinar

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Libyan dinar

لد
The dinar (دينار dīnār) is the currency of Libya. Its ISO 4217 code is "LYD". The dinar is subdivided into 1000 dirham (درهم). It was introduced in September 1971 and replaced the pound at par. It is issued by the Central Bank of Libya, which also supervises the banking system and regulates credit. In 1972, the Libyan Arab Foreign Bank was established to deal with overseas investment. Ali Mohammed Salem, deputy governor of Central Bank of Libya stated the exchange rate of Libyan dinar would be pegged to special drawing rights for one to three years, according to an interview to Reuters on 27 December 2011.

Until 1975, old coins denominated in milliemes (equal to the dirham) circulated. In 1975, coins were introduced in denominations of 1, 5, 10, 20, 50 and 100 dirhams which bore the coat of arms of the Federation of Arab Republics. These were followed in 1979 by a second series of coins, in the same denominations, which bore a design of a horseman in place of the arms. ¼ and ½ dinar coins were issued in 2001 and 2004, respectively. In 2009, new 50, 100 dirhams, ¼ and ½ dinar coins were issued. 1, 5, 10, and 20 dirham coins are rarely used as units of exchange. However, they still retain their status as legal tenders.

In 2013 and 2014, the Central Bank of Libya issued ¼ and ½ dinar coins and 50 and 100 dirham coins.

In 1971, banknotes were introduced in denominations of ¼, ½, 1, 5 and 10 dinar. 20 dinar notes were added in 2002. On August 27, 2008, the Central Bank of Libya announced a new 50 dinar note and that was scheduled to enter circulation on August 31, 2008. The note is already in circulation and features Muammar Gaddafi on the obverse.

The subjects depicted on the banknotes have not changed since series 2 except for the portrait of Muammar Gaddafi which became the new obverse design of the 1 dinar note in series 4.

After the 2011 revolution overthrew Gaddafi's government, Central Bank Governor Gasem Azzoz said that notes with the ousted strongman's face on them were still in circulation and would be used by the National Transitional Council to pay the salaries of public servants and government employees. The bank is holding a contest for redesigned banknotes that will likely eventually replace the Gaddafi-emblazoned bills.

The central Bank started withdrawing the 50-Dinar note on January 14, 2012. Libyans have until March 15 to hand the note in to banks. Issam Buajila, the media manager of the central bank said that the 1 and 20 Dinar notes will be withdrawn from circulation soon. Omar Elkaber, governor of the central bank, stated that the bank has already started printing new notes.

The Central Bank of Libya has issued a revised 10-dinar banknote with revised features, one example is the removal of the reference of the Gaddafi era "Jamahiriya" from upper right back, plus the use of English on the notes for the first time in two decades. Furthermore, the serial number prefix system has apparently been reset to "1". Two versions of the revised 10-dinar banknote were issued, one with the central bank's name rendered with initial-capitals, which were printed by De La Rue of the U.K. and the other with the central bank's name in all capital letters were printed by Oberthur Technologies of France. Another notable differences for the two notes is both the holographic patch, the symbols on the top left corner on the notes and the date. The De La Rue version is identical to its previous issue, but the only notable difference is the serial number prefix, identified as "7A". The Oberthur Technologies issue has a different holographic patch, the addition of the crescent and star symbol on the top left corner of the note, the serial number prefix as "1" and the date 17.02.2011 (February 17, 2011, the date of the 2011 Libyan revolution and civil war) added below.

A revised 5-dinar banknote was issued with altered features similar to the revised 10-dinar banknote. The English text has replaced the Arabic text on the back, the removal of the Gaddafi era "Jamahiriya" from the front and upper right back of the note, and the Gaddafi era falcon crest has been removed from the monument to the Battle of Al-Hani.

On February 17, 2013, on the occasion of the second anniversary of the Libyan civil war, the Central Bank of Libya issued a 1 dinar banknote, its first issue following the 2011 Libyan revolution and civil war. The front of the note depicts Anti-Gaddafi protesters with the flag of the Libyan rebels. The back of the note depicts the flag of Libya and peace doves.

Country

Libya

Libya (ليبيا, ), officially the State of Libya, is a country in the Maghreb region in North Africa, bordered by the Mediterranean Sea to the north, Egypt to the east, Sudan to the southeast, Chad and Niger to the south and Algeria and Tunisia to the west. The sovereign state is made of three historical regions: Tripolitania, Fezzan and Cyrenaica. With an area of almost 1.8 e6km2, Libya is the fourth largest country in Africa, and is the 16th largest country in the world. Libya has the 10th-largest proven oil reserves of any country in the world. The largest city and capital, Tripoli, is located in western Libya and contains over one million of Libya's six million people. The second-largest city is Benghazi, which is located in eastern Libya.

Libya has been inhabited by Berbers since the late Bronze Age. The Phoenicians established trading posts in western Libya, and ancient Greek colonists established city-states in eastern Libya. Libya was variously ruled by Carthaginians, Persians, Egyptians and Greeks before becoming a part of the Roman Empire. Libya was an early centre of Christianity. After the fall of the Western Roman Empire, the area of Libya was mostly occupied by the Vandals until the 7th century, when invasions brought Islam to the region. In the 16th century, the Spanish Empire and the Knights of St John occupied Tripoli, until Ottoman rule began in 1551. Libya was involved in the Barbary Wars of the 18th and 19th centuries. Ottoman rule continued until the Italian occupation of Libya resulted in the temporary Italian Libya colony from 1911 to 1947. During the Second World War, Libya was an important area of warfare in the North African Campaign. The Italian population then went into decline.

Language

Libyan dinar (English)  Dinaro libico (Italiano)  Libische dinar (Nederlands)  Dinar libyen (Français)  Libyscher Dinar (Deutsch)  Dinar líbio (Português)  Ливийский динар (Русский)  Dinar libio (Español)  Dinar libijski (Polski)  利比亞第納爾 (中文)  Libysk dinar (Svenska)  リビア・ディナール (日本語)  Лівійський динар (Українська)  Либийски динар (Български)  리비아 디나르 (한국어)  Libyan dinaari (Suomi)  Dinar Libya (Bahasa Indonesia)  Libijos dinaras (Lietuvių)  Libyske dinarer (Dansk)  Libyjský dinár (Česky)  Libya dinarı (Türkçe)  Либијски динар (Српски / Srpski)  Líbiai dinár (Magyar)  Libijski dinar (Hrvatski)  Δηνάριο Λιβύης (Ελληνικά) 
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