The
dinar is the
currencyIn economics, currency refers to a generally accepted medium of exchange. These are usually the coins and banknotes of a particular government, which comprise the physical aspects of a nation's money supply...
of
LibyaLibya is an African country in the Maghreb region of North Africa bordered by the Mediterranean Sea to the north, Egypt to the east, Sudan to the southeast, Chad and Niger to the south, and Algeria and Tunisia to the west....
. Its
ISO 4217ISO 4217 is a standard published by the International Standards Organization, which delineates currency designators, country codes , and references to minor units in three tables:* Table A.1 – Current currency & funds code list...
code is "LYD". The dinar is subdivided into 1000
dirhamDirham or dirhem is a unit of currency in several Arab or Berber nations, and formerly the related unit of mass in the Ottoman Empire and Persian states...
(درهم). It was introduced in 1971 and replaced the
poundThe Libyan pound was the currency of Libya between 1951 and 1971. The pound was divided into 100 piastres and 1000 milliemes .- History :...
at par. It is issued by the
Central Bank of LibyaThe Central Bank of Libya is the monetary authority in Libya and enjoys the status of autonomous corporate body. The law establishing the CBL stipulates that the objectives of the central bank shall be to maintain monetary stability in Libya , and to promote the sustained growth of the economy in...
, which also supervises the banking system and regulates credit. In 1972, the
Libyan Arab Foreign BankThe Libyan Arab Foreign Bank was established in 1972 in Tripoli, Libya as the country's first offshore banking institution licensed to operate internationally. The bank is 100% owned by the Central Bank of Libya...
was established to deal with overseas investment.
Coins
Until 1975, old coins denominated in
milliemesThe Libyan pound was the currency of Libya between 1951 and 1971. The pound was divided into 100 piastres and 1000 milliemes .- History :...
(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 RepublicsThe Federation of Arab Republics was an abortive attempt by Libya's Muammar Gaddafi to merge Libya, Egypt, and Syria, creating an United Arab state...
. 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.
Banknotes
In 1971, banknotes were introduced in denominations of ¼, ½, 1, 5 and 10 dinar. 20 dinar notes were added in 2002. On August 27, 2008, the
Central Bank of LibyaThe Central Bank of Libya is the monetary authority in Libya and enjoys the status of autonomous corporate body. The law establishing the CBL stipulates that the objectives of the central bank shall be to maintain monetary stability in Libya , and to promote the sustained growth of the economy in...
announced a new 50 dinar note and that was scheduled to enter circulation on August 31, 2008. The note is already in circulation and features
Muammar GaddafiMuammar Muhammad Abu Minyar Gaddafi or "September 1942" 20 October 2011), commonly known as Muammar Gaddafi or Colonel Gaddafi, was the official ruler of the Libyan Arab Republic from 1969 to 1977 and then the "Brother Leader" of the Libyan Arab Jamahiriya from 1977 to 2011.He seized power in a...
on the obverse. Scans of the new note can be found
here.
The subjects depicted on the banknotes have not changed since series 2 except for the portrait of
Muammar GaddafiMuammar Muhammad Abu Minyar Gaddafi or "September 1942" 20 October 2011), commonly known as Muammar Gaddafi or Colonel Gaddafi, was the official ruler of the Libyan Arab Republic from 1969 to 1977 and then the "Brother Leader" of the Libyan Arab Jamahiriya from 1977 to 2011.He seized power in a...
which became the new obverse design of the 1 dinar note in series 4.
After the
2011 revolutionThe 2011 Libyan civil war was an armed conflict in the North African state of Libya, fought between forces loyal to Colonel Muammar Gaddafi and those seeking to oust his government. The war was preceded by protests in Benghazi beginning on 15 February 2011, which led to clashes with security...
overthrew Gaddafi's government, Central Bank Governor Gasem Azzoz said that notes with the ousted strongman's face on them were still in circulation and would be used by the
National Transitional CouncilThe National Transitional Council of Libya , sometimes known as the Transitional National Council, the Interim National Council, or the Libyan National Council,...
to pay the salaries of public servants and government employees. The bank is holding a contest for redesigned banknotes that will likely eventually replace the Gaddafi-emblazoned bills.
| Banknote Series of the 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 |
English text on ¼, ½, and 5 dinars |
| 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 (1 and 5 dinars) or hologram (10 dinars) on upper left on the obverse as the new anti-counterfeit device |
| 7 |
1, 5, 10, 20 (Series 2), 50 (Series 1) dinars |
Blue, red and green |
2008-2009 |
Reworked designs and enhanced security features |
Current series
| Current Series |
| Image | Value | Main Colour | Description |
| Obverse | Reverse | Obverse | Reverse |
|
|
1 Dinar |
Blue |
Muammar Gaddafi Muammar Muhammad Abu Minyar Gaddafi or "September 1942" 20 October 2011), commonly known as Muammar Gaddafi or Colonel Gaddafi, was the official ruler of the Libyan Arab Republic from 1969 to 1977 and then the "Brother Leader" of the Libyan Arab Jamahiriya from 1977 to 2011.He seized power in a...
|
Mawlai Muhammad mosque, Tripoli |
| |
|
5 Dinars |
Reddish brown |
Camels |
Battle of Al-Hani monument |
|
|
10 Dinars |
Green |
Omar al-Mukhtar |
Sabha Fortress |
|
|
20 Dinars |
Purple and green |
Map of Libya with "Great Man-Made River" (GMMR) project |
Muammar Gaddafi with OAU members, 1999 |
| |
|
50 Dinars |
Brown |
Muammar Gaddafi Muammar Muhammad Abu Minyar Gaddafi or "September 1942" 20 October 2011), commonly known as Muammar Gaddafi or Colonel Gaddafi, was the official ruler of the Libyan Arab Republic from 1969 to 1977 and then the "Brother Leader" of the Libyan Arab Jamahiriya from 1977 to 2011.He seized power in a...
|
Ministry of Agriculture Conference Center at Al-Qardabiya (near Surt) |
Popular nomenclature and denominations
The Libyan dinar is commonly called
jni, ʒni (western Libyan Dialect) or
jneh [ʒneh] (eastern Libyan dialect). The name dinar is rarely used outside official circles. The authorized fractional unit, the dirham, is never mentioned in everyday conversation.
Garsh - a variant of the word
qirshQirsh, Gersh, Grush, Kuruş and Grosi are all names for currency denominations in and around the territories formerly part of the Ottoman Empire. The variation in the name stems from the different languages it is used in and the different transcriptions into the Latin alphabet...
- is employed instead, with 1
garsh = 10 dirhams. One thousand dinars is stylishly called a
kilo [kiːlu]. Similarly, five dinar notes and ten dinar notes are sometimes nicknamed, in the younger generation male slang,
faifa [faːifa] and
tsena [tseːna] respectively, which are playful feminizations of the English words five and ten, but may also be remnants of British slang words 'fiver' and 'tenner' for five and ten pound notes respectively. 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.
External links