2019-08-23 Fri

Libya is a country in Maghreb region on Northern Africa. It is the 4th largest country in Africa and 16th largest in the world. Libya has the 10th-largest proven oil reserves of any country in the world. The Libyan economy depends primarily upon revenues from the oil sector.

The dinar is the currency of Libya. The dinar is subdivided into 1000 dirham. Libyan dinar was introduced in September 1971 replacing the pound at par. It is issued by the Central Bank of Libya, which also supervises the banking system and regulates credit.

In 1971, banknotes were introduced in denominations of ¼, ½, 1, 5 and 10 dinar. The denominations of 20 dinar and 50 dinar note were added later. Today we are looking at 5 Dinar banknote issued in 1971-72.The note specifications are as follows:

The obverse depicts a Pan-Arabic emblem to left and text in centre. The reverse features the Red Castle - Assaraya al-Hamra in Tripoli. This predominant olive coloured note has the official Coat of Arms of the Libyan Arab Republic as its watermark.

Image Courtesy: allnumis