The official currency of Libya is the Libyan Dinar which has been the official currency of the country since 1971. Since this time the Libyan Dinar has maintained a relatively high value on the world stage.
Originally the Dinar was pegged to the US Dollar at a rate of 1 LYD to 3.34 USD in 1973. Over the years the Dinar has slowly lost its value, however comparatively to currencies of other countries that have gone through a crisis, it has maintained a fairly stable level due to its oil exports.
The current Dinar rate is roughly 1 USD to 4.4 USD which was introduced in 2021 to bring it in line with the black market rates. Currently, there is a black market rate in Libya, however the difference is very small and you almost won’t notice the difference between the official and unofficial rates.
Old notes – the old notes of the Libyan Dinar still contain images of Ghaddafi, but these are now rare and hard to find. Current notes contain images of Libyan heroes such as Omar Mukhtar, who is famous for fighting a resistance against the Italians.
