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.
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.
01/07/2013: Exchange rate unification
North Korea unifies the official exchange rate and market rate, resulting in a significant depreciation of the won.
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.
30/11/2009: Currency revaluation
North Korean government announces a currency revaluation, replacing the old won notes at a ratio of 1 for 100.
01/12/2001: Currency redenomination
North Korean won is redenominated, with the previous notes and coins being replaced by new ones at a ratio of 1 for 1,000.
25/02/1992: Introducing foreign exchange certificates
North Korea introduces foreign exchange certificates to counter hyperinflation and stabilize its economy.
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.
06/12/1979: Second major revaluation
North Korean won undergoes its second major revaluation, with the exchange rate being set at 1 for 10.
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.
31/12/1959: First major revaluation
North Korean won undergoes its first major revaluation, with the exchange rate being set at 1 for 100.
24/12/1951: Independence of Libya
Libya gains independence from Italy, introducing the Libyan pound as its currency.
06/12/1947: Introduction of North Korean won
North Korean won is introduced as the official currency of North Korea, replacing the Korean yen at par value.