Libyan dinar

The Libyan dinar is the legal currency of Libya. Abbreviation: LYD. 1 Libyan dinar equals 1000 Libyan dirhams.

When Libya was a part of the Ottoman Empire, the country used the Ottoman currency (Ottoman Empire Piastres (XOTP) ). When Italy started taking over the country, the lira was introduced. At one time British Military Authorities (BMA), Lira, Algerian francs (DZG) and Egyptian pounds (EGP) were used in the country, each in their respective territories. When Libya became independent in 1951, the Libyan pound (LYP) was introduced. The LYP was separated into 100 Piastres and 1000 Milliemes.

In 1971, the country introduced the new currency, the Libyan dinar, the currency used today. The bank of issue is 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.

As of January 2, 2005 there were 1.25640 dinars to the United States dollar

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Libyan_dinar_one.jpg
Image:Libyan_dinar_one.jpg

One Libyan dinar banknote from 1988.

External link

• Central Bank of Libya

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Currencies of Africa
North	Algerian dinar | Egyptian pound | Libyan dinar | Mauritanian Ouguiya | Moroccan Dirham | Sudanese dinar | Tunisian dinar
Central	Burundi franc | Central African CFA franc (Cameroon, Central African Republic, Chad, Republic of the Congo, Equatorial Guinea, and Gabon)) | Congolese franc | Angolan Kwanza | Rwandan franc
West	Cape Verde Escudo | Gambian Dalasi | Ghanaian Cedi | Guinean franc | Biffeche Dinar-Haut | Liberian dollar | Nigerian Naira | São Tomé and Príncipe Dobra | Sierra Leonean Leone | West African CFA franc (Benin, Burkina Faso, Côte d'Ivoire, Guinea-Bissau, Mali, Niger, Senegal, and Togo)
East	Comorian franc | Djiboutian franc | Eritrean Nakfa | Ethiopian Birr | Kenyan shilling | Seychelles Rupee | Somali shilling | Tanzanian shilling | Ugandan shilling
South	Botswana Pula | Euro (Réunion) | Lesotho Loti | Malawian kwacha | Malagasy ariary | Mauritian Rupee | Mozambique Metical | Namibian dollar | Saint Helenian pound | South African Rand | Swaziland Lilangeni | Zambian Kwacha | Zimbabwe dollar </table>

See also: Libyan dinar, 2005, Africa, Algerian dinar, Ariary, Benin, Biffeche Dinar-Haut, Birr (currency)