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Libya Currency

ISO 4217 code
Central bank
Central Bank of Libya
The World Factbook,
2012 est.
LD and ﻝ.ﺩ
50, 100 dirhams ¼, ½
1, 5, 10, 20, 50 dinars
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 September
1971 and replaced the
pound at par.[1] 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.[2]
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
. 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.

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