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The Libyan dinar is commonly called jni, (western Libyan Dialect) or jneh [ʒneh] (eastern Libyan dialect), derived from the name of British guinea (cf genēh جنيه for the Egyptian pound), a gold coin worth twenty-one shillings. The name dinar is rarely used outside official circles. The authorized fractional unit, the dirham, is never ...
Colour key and notes Indicates that a given currency is pegged to another currency (details) Italics indicates a state or territory with a low level of international recognition State or territory Currency Symbol [D] or Abbrev. ISO code Fractional unit Number to basic Abkhazia Abkhazian apsar [E] аҧ (none) (none) (none) Russian ruble ₽ RUB Kopeck 100 Afghanistan Afghan afghani ؋ AFN ...
Algerian dinar – Algeria; Bahraini dinar – Bahrain; Bosnia and Herzegovina dinar – Bosnia and Herzegovina; Croatian dinar – Croatia; Iraqi dinar – Iraq; Jordanian dinar – Jordan, Palestinian territories; Kelantanese dinar – Kelantan; Krajina dinar – Krajina; Kuwaiti dinar – Kuwait; Libyan dinar – Libya; Republika Srpska ...
Libya is an OPEC member and holds the largest proven oil reserves in Africa (followed by Nigeria and Algeria), 41.5 Gbbl (6.60 × 10 9 m 3) as of January 2007, up from 39.1 Gbbl (6.22 × 10 9 m 3) in 2006. About 80% of Libya's proven oil reserves are located in the Sirte Basin, which is responsible for 90% of the country's oil output. [15]
In some places there is a thriving street trade by unlicensed street traders in US dollars or other stable currencies, which are seen as a hedge against local inflation. The exchange rate is grossly more favourable to the seller of the foreign currency than is the official bank rate, but such trading is usually illegal.
De Facto Classification of Exchange Rate Arrangements, as of April 30, 2021, and Monetary Policy Frameworks [2]; Exchange rate arrangement (Number of countries) Exchange rate anchor
The Kuwaiti dinar, Bahraini dinar, Jordanian dinar, and Iraqi dinar are divided into 1,000 fils. The smallest coins currently minted are 5 fils (Kuwait and Bahrain), 1/4 dinar (Jordan), 25 dinars (Iraq). The Omani rial is divided into 1,000 baisa. The Libyan dinar has been divided into 1,000 dirhams since 1971.
In 1951, the Libyan pound was introduced, replacing the franc and lira at rates of £L1 = 480 lire = 980 francs, and was equal in value to one pound sterling. [20] When sterling was devalued in 1967, the Libyan pound did not follow suit, so one Libyan pound became worth £1 3s. 4d. sterling.