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HomeAfricaLibya launches new currency to mark anti-Kadhafi revolution

Libya launches new currency to mark anti-Kadhafi revolution

The Central Bank of Libya has said it will issue new currency notes on 17 February on the occasion of the celebration of the second anniversary of the revolution that toppled former leader Mouammar Kadhafi.

While the former Libyan Dinar bore the effigy of the late Kadhafi, the new carries the Libyan flag and an artistic figure highlighting the various stages of the Libyan Revolution.

According to the president of the Libyan Central Bank, Omar Al-Sadik Al-Kabir, the old notes will be gradually withdraw when the new ones go into circulation.

He estimated that money supply in Libya was over US$ 120 billion, representing 60 months of consumption, according to international standards.

He added that the printing of the new currency was done in record time, saying it was completed in less than 10 months instead of the normal schedule of between 18 and 20 months.

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