Libyan currency is called the Libyan Dinar and is subdivided into 1,000 dirham (often abbreviated LD or LYD). It is issued by the Central Bank of Libya. Libya paper denominations are 50, 20, 10, 5, 1, 1/2, and 1/4 notes, and depict Qaddafi, Omar Mukhtar, and Libyan themes. Coin denominations (dirham) are 1, 5, 10, 20, 50 and 100 dirham and have a horseman design, and 1/2 and 1/4 dinar coins were issued in 2004 – but for practical purposes, coins are rarely used in Libya, most people using the 1/4 banknote.
In Libya, cash is definitely king — Libya is the quintessential cash society. From buying groceries to buying cars and homes with suitcases stuffed with Libyan Dinars, this is a country where plastic and credit is viewed as a curiosity. Libyans call their currency “jnii” (”jneh” in the East), and similarly to how 1,000 is called “1 G”, one thousand dinars is called a “kilo.” The currency exchange rate with the dollar is roughly one 1.23 Libyan Dinars for every U.S. Dollar. ( as of Jan.2010)
ATMS are sparsely found in Libya, most being concentrated in Tripoli in a few banks, and some hotels and upscale shops and restaurants. Visa and Mastercard are accepted cards. It would be wise to bring cash with you when traveling to Libya (EUROS or U.S. Dollars) and converting them at the airport/hotel/bank, as some ATMS may not work properly with international credit/debit cards. If you do bring your card, don’t forget to contact your credit card company beforehand and let them know you’re traveling to Libya as it may be considered unusual by your credit card company to see statements from Libya and it may be denied.
Major banks include Jamahiriya Bank, Umma Bank, Sahara Bank, and the private Bank of Commerce and Development. We recommend the latter, they seem to be the most progressive and “modern” compared to the other banks, and offer more services and professionalism, though others are catching up and modernizing rapidly.
