Libyan dinar

Infobox Currency
currency_name_in_local = دينار ليبي ar icon
image_1 = Libyan_dinar_one.jpg
image_title_1 = 1 dinar banknote of revised series 4, featuring Muammar al-Gaddafi
iso_code = LYD
using_countries = flag|Libya
inflation_rate = 3.1%
inflation_source_date = " [https://www.cia.gov/library/publications/the-world-factbook/fields/2092.html The World Factbook] ", 2006 est.
subunit_ratio_1 = 1/1000
subunit_name_1 = dirham
symbol = LD and ل.د
frequently_used_coins = 50, 100 dirhams ¼, ½, dinar
rarely_used_coins = 1, 5, 10, 20 dirhams
used_banknotes = ¼, ½, 1, 5, 10, 20, 50 dinars
issuing_authority = Central Bank of Libya
issuing_authority_website = www.cbl-ly.com

The dinar ( _ar. دينار) is the currency of Libya. Its ISO 4217 code is "LYD". The dinar is subdivided into 1000 dirham (درهم). It was introduced in 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.

Coins

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 dirham 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 2004. [http://www.cbl.gov.ly/en/variant/index.php?cid=100&id=474] 1, 5, 10, and 20 dirham coins are rarely used, if ever, as units of exchange. However, they still retain their status as legal tenders.

Banknotes

Banknotes in denominations of ¼, ½, 1, 5 and 10 dinar were introduced in 1971. 20 dinar notes were added in 2002. On 27 August 2008, the Central Bank of Libya announced a new 50 dinar note and that was scheduled to enter circulation on 31 August 2008. [ar icon [http://www.ljbc.net/details0.php?home_news_id=14422&section=economy Central Bank of Libya issues a new 50 Dinars banknote-مصرف ليبيا المركزي يصدر ورقة نقدية جديدة من فئة الخمسين دينارا] , "Libyan Jamahiriya Broadcasting Agency", retrieved 28 Aug 2008] The note is already in circulation and features Muammar al-Gaddafi on the obverse. Scans of the new note can be found [http://www.zuwara.com/forum/showthread.php?s=bc7710598cc7b57aad104f9989d17206&t=14905 here] .

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

Gallery

Popular nomenclature and denominations

The Libyan dinar is commonly called "jni," IPA2|ʒni (western Libyan Dialect) or "jneh" IPA| [ʒneh] (eastern Libyan dialect). The official name dinar is rarely used outside official circles. The official fractional unit dirham is never used in everyday talk. "Garsh" - a variant of the word qirsh - is used instead, with 1 "garsh" = 10 dirhams. One thousand dinars is stylishly called a "kilo" IPA| [kiːlu] . Similarly, five dinars notes and ten dinars notes are sometimes nicknamed, in younger generations male slang, "faifa" IPA| [faːifa] and "tsena" IPA| [tseːna] respectively, which are playful feminizations of the English words five and ten. Libyan currency is nicknamed by Libyans ʿOmar El-Mokhtar after the Libyan freedom fighter who is featured on the obverse of the 10 dinar note.

References

ee also

* Economy of Libya

External links

Standard numismatics external links
world_coin_gallery_1_url = Libya
world_coin_gallery_1_name = Libya
banknote_world_1_url = libya
banknote_world_1_name = Libya
dollarization_1_url = ly
dollarization_1_name = Libya
gfd_1_url = Libya
gfd_1_name = Libya
gfd_data_1_url =
gfd_data_1_name =
show_gfd_excel = Y