16/03/2021: New 5 Rial Polymer Banknote Introduced
A new polymer banknote with a denomination of 5 rials was introduced, enhancing durability and security features of the currency.
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.
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.
15/01/2003: New Omani Rial Banknotes Issued
New series of Omani rial banknotes were introduced, featuring enhanced security features and updated designs.
12/06/1994: Smaller Denomination Coins Issued
Small denomination coins, including 5, 10, 25, and 50 baisa coins, were issued in order to facilitate everyday transactions.
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.
17/03/1986: 200 Baisa Coin Introduced
A new 200 baisa coin was introduced, becoming the highest denomination coin in circulation at that time.
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.
11/11/1975: 1/8 Rial Copper-Nickel Coin Introduced
A new 1/8 rial coin made of copper-nickel was introduced, representing a fractional value of the rial currency.
02/03/1973: Rial Oman Pegged to US Dollar
The Omani rial was officially pegged to the United States dollar, with an exchange rate of 1 OMR = 2.895 USD.
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.
27/07/1970: Rial Oman is Introduced
The Omani rial was introduced, replacing the Gulf rupee at a rate of 1 rial = 2.6008 rupees.
24/12/1951: Independence of Libya
Libya gains independence from Italy, introducing the Libyan pound as its currency.