The Central Bank of Libya (CBL) has announced that it will launch the new Libyan banknotes on the second anniversary of the 17 February Revolution, a delay from the initial plan of 31st January, according to Libya Herald.
The total value of the new banknotes is understood to be LD 116 billion ($93 billion), made up of denominations of one, five, ten, twenty and fifty dinars, which according to Central Bank Governor Saddek Elkaber [Saddek Omar Elkaber] were printed in a record time of just ten months.
He added that while the Libyan currency is currently not accepted outside the country, an agreement had been reached with Tunisia regarding the acceptance and exchange of currencies, but with a limit.
The new notes are intended to reduce forgeries because of features such as security tags and the use of four colours, and they will also include identifiers to assist blind people.
Once the new banknotes have been issued, there will be a phased withdrawal of the old notes.
(Sources: Libya Herald, Banknotenews)
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