22/02/2021: Kyat's Depreciation Challenges
The Burmese kyat faced significant depreciation and instability due to political turmoil and the military coup in Myanmar.
06/09/2018: Announcement of new dinar notes
The Central Bank of Libya announces the release of new dinar banknotes with enhanced security features to combat counterfeiting.
23/04/2015: Foreign Exchange Market Liberalization
Restrictions on foreign exchange were lifted, allowing a more liberalized foreign exchange market in Myanmar.
28/07/2014: Recognition of rival governments
The Libyan Supreme Court recognizes two rival governments, further fragmenting the country and impacting the value of the dinar.
02/04/2012: Managed Float Regime Implemented
The Burmese government adopted a managed float exchange rate regime, allowing the kyat to fluctuate based on market forces.
17/02/2011: Start of the Libyan Civil War
The Libyan Civil War begins, leading to political instability and further devaluation of the Libyan dinar.
01/04/1990: Foreign Exchange Certificates Introduced
Foreign Exchange Certificates (FECs) were introduced as a parallel currency to stabilize the economy and control the black market.
01/09/1987: Second Kyat Revalued
Due to hyperinflation, the Burmese kyat was again revalued, with 1 kyat replacing 10 new kyats.
07/04/1986: US imposes economic sanctions
The United States imposes economic sanctions on Libya, severely impacting the value and stability of the Libyan dinar.
02/03/1978: Establishment of the Central Bank of Libya
The Central Bank of Libya is established, becoming the sole authority responsible for issuing and managing the Libyan dinar.
08/09/1971: Introduction of the Libyan dinar
The Libyan pound is replaced by the Libyan dinar, at a rate of 1 dinar = 1 pound.
01/12/1964: Kyat Revalued
The Burmese kyat underwent a major revaluation, with 1 new kyat replacing 100 old kyats to combat inflation.
01/07/1952: Kyat Introduced
The Burmese kyat was first introduced as the official currency of Burma, replacing the Indian rupee at an exchange rate of 1 kyat = 1 rupee.
24/12/1951: Independence of Libya
Libya gains independence from Italy, introducing the Libyan pound as its currency.