What is the national currency of Libya?
The dinar is the currency of Libya. It was introduced in September 1971 and replaced the pound at par. The dinar is subdivided into 1,000 dirham.
The Libyan dinar is commonly called jni (western Libyan Dialect) or jneh (eastern Libyan dialect), derived from the name of British Guinea. The name dinar is rarely used outside official circles.
The Libyan Dinar was worth $3.3 (US dollars) and remained so strong until the 1980s, after which it began to gradually fall. Today it is worth less than a dollar (about $0.80). The rate of the American dollar in the Libyan black market has reached ten times that of the Libyan rate in 1996.
The Libyan Dinar comes in the following notes: ¼ dinar (this note is no longer valid from the 1st of October 2010 - only the coin is accepted), ½ dinar (this note is no longer valid from the 1st of October 2010 - only the coin is accepted), 1 dinar, 5 dinars, 10 dinars, 20 dinars, 50 dinars.