Libyan Dinar (LYD)

The Libyan Dinar (LYD) is the official currency of Libya. Here is more detailed information about the Libyan Dinar:

1. History: The Libyan Dinar was introduced by the Central Bank of Libya in 1971. It replaced the previously used currency, the Libyan Riyal, and became the official currency of Libya.

2. Symbol and Code: The symbol for the Libyan Dinar is “ل.د” or “LD”. The currency is denoted by the ISO 4217 code LYD.

3. Subunits: The Libyan Dinar is divided into 1000 dirhams. However, the use of dirhams is not common in practice, and the term “piaster” or “piastre” is often used as the subunit of the Dinar.

4. Value: The value of the Libyan Dinar fluctuates in the international markets. It is influenced by various factors, particularly oil prices and the economic situation in Libya.

5. Usage: The Libyan Dinar is used as the legal tender in Libya. It is accepted for all official transactions and trade within the country. Additionally, it may be accepted in some neighboring countries and certain regions in Africa.

6. Coins and Banknotes: The Libyan Dinar is available in coins and banknotes. Coins are issued in denominations of 1, 5, 10, 20, and 50 dirhams, while banknotes are available in denominations of 1, 5, 10, 20, 50, and 100 Dinars.

7. Exchange: The Libyan Dinar can be exchanged with international currencies. It can be bought and sold at currency exchange offices, banks, and places that accept international currency.

In summary, the Libyan Dinar is the official currency of Libya. It was introduced in 1971 and has a fluctuating value in international markets. The Libyan Dinar is used as the legal currency in Libya and is represented by coins and banknotes.