Libyan dinar
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| Libyan dinar دينار ليبي (Arabic) |
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| ISO 4217 Code | LYD | ||
|---|---|---|---|
| User(s) | Libya | ||
| Inflation | 3.1% | ||
| Source | The World Factbook, 2006 est. | ||
| Subunit | |||
| 1/1000 | dirham | ||
| Symbol | LD and ل.د | ||
| Coins | |||
| Freq. used | 50, 100 dirhams ¼, ½, dinar | ||
| Rarely used | 1, 5, 10, 20 dirhams | ||
| Banknotes | ¼, ½, 1, 5, 10, 20 dinars | ||
| Central bank | Central Bank of Libya | ||
| Website | www.cbl-ly.com | ||
The dinar (Arabic: 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.
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[edit] 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. [1] 1, 5, 10, and 20 dirahm coins are rarely used, if ever, as units of exchange. However, they still retain their status as legal tenders.
[edit] Banknotes
Banknotes in denominations of ¼, ½, 1, 5 and 10 dinar were introduced in 1971. 20 dinar notes were added in 2002.
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.
| Banknote Series of Libyan dinar | ||||
|---|---|---|---|---|
| Series | Denominations | Colours | Issued Dates | Note |
| 1 | ¼, ½, 1, 5 and 10 dinars | Orange, purple, blue, olive and grey | 1971 – 1972 | |
| 2 | All green | 1980 – 1981 | ||
| 3 | Green as the dominant colour, with brown, purple, blue, light green and multicoloured. | 1984 | ||
| 4 | Multicoloured | 1988 –ca. 1990 | ||
| 4, revised | Slight change | ca. 1991 – 1993 | English text on ¼, ½, and 5 dinars note was removed | |
| 5 | ¼, ½, 1, 5, 10 and 20 dinars | Multicoloured | 2002 | |
| 6 | 1, 5 and 10 dinars | Blue, purple and green | 2004 | Easily visible foil or hologram on upper left on obverse as the new anti-counterfeit device |
[edit] Popular nomenclature and denominations
The Libyan dinar is commonly called jni /IPA: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 kilo /IPA:ki:lu/. Similarly, ten dinars notes and five dinars notes are sometimes nicknamed, in male younger generations slang, tsena /IPA:tse:na/ and faifa /IPA:fa:ifa/ respectively, which are playful feminizations of the English words ten and five. 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.
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[edit] References
| Preceded by: Libyan pound Reason: Revolution (in 1969) Ratio: at par |
Currency of Libya 1971 – |
Succeeded by: Current |
| Currencies named dinar or similar | |
|---|---|
| Current | Algerian dinar · Bahraini dinar · Islamic gold dinar · Iraqi dinar · Jordanian dinar · Kuwaiti dinar · Libyan dinar · Macedonian denar · Tunisian dinar · Serbian dinar |
| Defunct | Abu Dhabi dinar · Bosnia and Herzegovina dinar · Croatian dinar · Krajina dinar · Republika Srpska dinar · South Arabian dinar · South Yemeni dinar · Sudanese dinar · Yugoslav dinar |
| As subunit | Iranian rial |
| See also | E-dinar |
