2019-11-25 Mon

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 a ¼ dinar banknote issued in 2002. The obverse depicts the Arch of Tiberius - Leptis Magna in Al Khums, Libya. The reverse depicts palm trees and Murzuq Fortress in Fezzan. This multi-coloured banknote has the Coat of Arms of Libya -- the "Hawk of Qureish" as its watermark.

Image Courtesy: nvmvs.com