Libyan Dinar

Libyan Dinar

The dinar (Arabic: دينار‎ dīnār) is the currency of Libya. Its ISO 4217 code is "LYD". The dinar is subdivided into 1000 dirham (درهم). It was introduced in September 1971 and replaced the pound at par. It is issued by the Central Bank of Libya, which also supervises the banking system and regulates credit. In 1972, the Libyan Arab Foreign Bank was established to deal with overseas investment. Ali Mohammed Salem, deputy governor of Central Bank of Libya stated the exchange rate of Libyan dinar would be pegged to special drawing rights for one to three years, according to an interview to Reuters on 27 December 2011.

British Pound

British Pound

The pound sterling (symbol: £; ISO code: GBP), commonly known as the pound and less commonly referred to as Sterling, is the official currency of the United Kingdom, Jersey, Guernsey, the Isle of Man, South Georgia and the South Sandwich Islands, the British Antarctic Territory, and Tristan da Cunha. It is subdivided into 100 pence (singular: penny, abbreviated: p). A number of nations that do not use sterling also have currencies called the pound. At various times, the pound sterling was commodity money or bank notes backed by silver or gold, but it is currently fiat money, backed only by the economy in the areas where it is accepted. The pound sterling is the world's oldest currency still in use and which has been in continuous use since its inception.Sterling is the fourth most-traded currency in the foreign exchange market, after the United States dollar, the euro, and the Japanese yen. Together with those three currencies and the Chinese yuan it forms the basket of currencies which calculate the value of IMF special drawing rights. Sterling is also the third most-held reserve currency in global reserves (about 4%).The British Crown dependencies of Guernsey, Jersey and the Isle of Man produce their own local issues of sterling (the Guernsey pound, the Jersey pound and the Manx pound) which are considered fully equivalent to UK sterling in their respective regions. The pound sterling is also used in Gibraltar (alongside the Gibraltar pound), the Falkland Islands (alongside the Falkland Islands pound), Saint Helena and Ascension Island in Saint Helena, Ascension and Tristan da Cunha (alongside the Saint Helena pound). The Bank of England is the central bank for the pound sterling, issuing its own coins and banknotes, and regulating issuance of banknotes by private banks in Scotland and Northern Ireland. Banknotes issued by other jurisdictions are not regulated by the Bank of England; local governments use Bank of England notes as backing for local issuance by allowing them to be exchanged 1:1 at face value.

1 Libyan Dinar to British Pound exchange rates chart

1 LYD to GBP exchange rates graph
1 LYD to GBP Spot rate – This is known more formally as the ‘interbank’ rate. It is the rate banks or large financial institutions charge each other when trading significant amounts of foreign currency. In the business, this is sometimes referred to as a ‘spot rate’. It is not the tourist rate and you cannot buy currency at this rate, as you are buying relatively small amounts of foreign currency. In everyday life it is the same as the difference between wholesale and retail prices. The rates shown in financial newspapers and in broadcast media are usually the interbank rates.

1 LYD to GBP exchange rates table

Exchange LYD to GBP
1 Libyan Dinar = 0.556 British Pound
2 Libyan Dinar = 1.112 British Pound
5 Libyan Dinar = 2.779 British Pound
10 Libyan Dinar = 5.559 British Pound
Exchange Libyan Dinar to British Pound
1 Libyan Dinar to British Pound Cross rate – This is the rate we give to customers who want to exchange currencies that do not involve the local currency. For example, if you want to exchange Australian dollars into US dollars.

1 LYD to GBP exchange rates news

Libya’s ‘green gold’ olive industry hit by export ban

TARHUNA, Libya: Stretching as far as the eye can see, groves of gnarled olive trees in northwest Libya have proudly withstood the country’s devastating conflicts. But the industry of extracting olive oil, often dubbed “green gold,” is now under threat after Libyan authorities halted exports in a bid to “protect” local produce. Libya has depended heavily on exports of its ample

22 days indicative negative
News Recap - Wed, Sep 19, 2018 | The Libya Observer

Here is a recap of Wednesday’s news headlines from The Libya Observer     Exchange Rates http://lyo.ly/5ac   At least one dead and 5 wounded in Tuesday clashes in Tripoli, First Aid and Emergency Service confirmed http://lyo.ly/aq0

2 months indicative neutral
Why Gaddafi's Gold Dinars, Petro-Yuan Pose No Threat to US Dollar Dominance… Yet

Speaking to Sputnik, Wall Street analyst Charles Ortel argues that the Chinese petro-yuan can't compete with the petrodollar as long as China is not a major energy producer. Similarly, the analyst and CNTV Panview commentator Tom McGregor cast doubt upon the potential efficiency of Gaddafi's old plan to make the Libyan dinar a gold-backed currency.

2 months conditional neutral
Libya Central Bank says keen on doing comprehensive reform | The Libya Observer

The Central Bank of Libya (CBL) said it will keep providing letters of credit to businesspersons in order to cover the Libyan market needs of foods and other commodities as per budget laws of 2017. In a statement on Monday, the Tripoli-based CBL said it had started off a comprehensive economic project that would boost the Libyan economy in coordination with the Presidential

2 months conditional neutral
Jamaican dollar declines 10 cents vs greenback

The Jamaican dollar devalued by 10 cents against the United States dollar during Wednesday’s trading, according to the trading summary from the Bank of Jamaica (BOJ)

11 days indicative negative

1 LYD to GBP currency converter