Libya-1/2-Dinar-banknote-of-2002

Libya 1/2 Dinar banknote of 2002

02 Dec 2019  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 1/2 dinar banknote issued in 2002. The obverse depicts Oil refinery, while the reverse depicts a scene featuring Irrigation system; wheat ears. This note has the Coat of Arms of Libya -- the "Hawk of Qureish" as its watermark.

Image Courtesy: eBay.com

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