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Liberian dollar

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Liberian dollar
A current $5 banknote
ISO 4217
CodeLRD (numeric: 430)
Subunit0.01
Unit
Symbol$, L$, LD$‎
Denominations
Subunit
 1⁄100cent
BanknotesL$5, L$10, L$20, L$50, L$100, L$500, L$1,000
Coins5¢, 10¢, 25¢, 50¢, L$1, L$5, L$10[1]
Demographics
User(s) Liberia
Issuance
Central bankCentral Bank of Liberia
 Websitecbl.org.lr
Valuation
Inflation7.7%
 SourceThe World Factbook , 2015 est.

The dollar (currency code LRD) has been the currency of Liberia since 1943. It was also the country's currency between 1847 and 1907. It is normally abbreviated with the sign $, or alternatively L$ or LD$ to distinguish it from other dollar-denominated currencies. It is divided into 100 cents.

First use

Twenty-five cent note (1880), previously unknown as a denomination.[2]
19th Century Liberian One dollar.

The first Liberian dollar was issued in 1847. It was pegged to the US dollar at par and circulated alongside the US dollar until 1907, when Liberia adopted the British West African pound, which was pegged to sterling.

Coins

In 1847 and 1862, copper 1 and 2 cents coins were issued and were the only Liberian coins until 1896, when a full coinage consisting of 1, 2, 10, 25 and 50 cents coins were introduced. The last issues were made in 1906.

Money notes

The Treasury Department issued notes between 1857 and 1880 in denominations of 10 and 50 cents, 1, 2, 3, 5 and 10 dollars.

Reintroduction

United States currency replaced the British West African pound in Liberia in 1935.[3] Starting in 1937, Liberia issued its own coins which circulated alongside US currency.

The flight of suitcase-loads of USD paper by Americo-Liberians following the April 12, 1980 coup d'état created a currency shortage. This was remedied by minting of the Liberian $5 coins. The 7-sided coins were the same size and weight as the one-dollar coin; this prevented corrupt members of elite society leaving the country with Liberia's money.

In the late 1980s the coins were largely replaced with a newly designed $5 note modeled on the US greenback ("J. J. Roberts" notes). The design was modified during the 1990-2004 civil war to ostracize notes looted from the Central Bank of Liberia. This effectively created two currency zones—the new "Liberty" notes were legal tender in government-held areas (primarily Monrovia), while the old notes were legal tender in non-government areas. Each was not considered legal in the other territory. Following Charles Taylor's arrival in Monrovia in 1995, the J.J. Robert's bank notes were legally accepted in most parts of Monrovia for purchases. Banking and some majors institutions did not accept the J.J. Robert's bank note as legal tender during this period.

Following the election of the Charles Taylor government in 1997 a new series of banknotes dated 1999 was introduced on March 29, 2000.

Coins

1 Dollar coin of Liberia (1968)

In 1937, coins were issued in denominations of 1⁄2, 1 and 2 cents. These were augmented in 1960 with coins for 1, 5, 10, 25 and 50 cents. A $1 coin was issued the following year. Five-dollar coins were issued in 1982 and 1985 (see above). According to the 2009 Standard Catalog of World Coins (Krause Publications, Iola, WI), numerous commemorative coins (featuring U.S. Presidents, dinosaurs, Chinese Lunar-Zodiac animals, etc.) in denominations ranging from 1 to 2500 Dollars have been issued beginning in the 1970s through the present.[4]

Coins of the Liberian dollar
Image Value Technical parameters Description Date of first minting
Diameter Thickness Mass Composition Edge Obverse Reverse
1⁄2 cent 18 mm 2.42 g Brass Plain/Smooth Elephant; text "REPUBLIC OF LIBERIA"; star Palm tree divides ship and sun within circle flanked by stars above date; text "ONE HALF CENT" 1937
1⁄2 cent 18 mm 1.3 mm 2.50 g Copper-nickel Plain/Smooth Elephant; text "REPUBLIC OF LIBERIA"; star Palm tree divides ship and sun within circle flanked by stars above date; text "ONE HALF CENT" 1941
1 cent 25.45 mm 5.19 g Brass Plain/Smooth Elephant; text "REPUBLIC OF LIBERIA"; star Palm tree divides ship and sun within circle flanked by stars above date; text "ONE CENT" 1937
1 cent 25.45 mm 1.38 mm 5 g Copper-nickel Plain/Smooth Elephant; text "REPUBLIC OF LIBERIA"; star Palm tree divides ship and sun within circle flanked by stars above date; text "ONE CENT" 1941
1 cent 18 mm 1.5 mm 2.6 g Brass Plain/Smooth Elephant; text "REPUBLIC OF LIBERIA"; star Ship and bird to right of palm tree within 3/4 circle above date; text "THE LOVE OF LIBERTY BROUGHT US HERE"; "ONE CENT" 1960
2 cents 28 mm 1.64 mm 8 g Brass Reeded Elephant; text "REPUBLIC OF LIBERIA"; star Palm tree divides ship and sun within circle flanked by stars above date; text "TWO CENTS" 1937
2 cents 29.05 mm 1.7 mm 8.24 g Copper-nickel Plain/Smooth Elephant; text "REPUBLIC OF LIBERIA"; star Palm tree divides ship and sun within circle flanked by stars above date; text "TWO CENTS" 1941
5 cents 20 mm 1.6 mm 4.1 g Copper-nickel Plain/Smooth Elephant; text "REPUBLIC OF LIBERIA"; star Ship and bird to right of palm tree within 3/4 circle above date; text "THE LOVE OF LIBERTY BROUGHT US HERE"; "FIVE CENTS" 1960
10 cents 17 mm 1.16 mm 2.07 g .900 Silver Reeded Head with headress; text "REPUBLIC OF LIBERIA"; star Value and date within wreath; text "10 CENTS" 1960
10 cents 16.5 mm 1.9 mm 1 g Copper-nickel Reeded Head with headress; text "REPUBLIC OF LIBERIA"; star Value and date within wreath; text "10 CENTS" 1966
25 cents 22.96 mm 1.45 mm 5.18 g .900 Silver Reeded Head with headress; text "REPUBLIC OF LIBERIA"; star Value and date within wreath; text "25 CENTS" 1960
25 cents 23 mm 4.8 g Copper-nickel Reeded Head with headress; text "REPUBLIC OF LIBERIA"; star Value and date within wreath; text "25 CENTS" 1966
25 cents 23 mm 5.2 g Copper-nickel Reeded Portrait of William R. Tolbert, Jr.; text "REPUBLIC OF LIBERIA"; stars; "W.R.TOLBERT JR." Woman with basket of leaves on head; text "GROW MORE FOOD"; "25"; "TWENTY-FIVE CENTS" 1976
25 cents 23 mm 1.76 mm 4.46 g Nickel-clad steel Reeded Head with headress; text "REPUBLIC OF LIBERIA"; star Value and date within wreath; text "25 CENTS" 2000
50 cents 28.5 mm 10.37 g .900 Silver Reeded Head with headress; text "REPUBLIC OF LIBERIA"; star Value and date within wreath; text "50 CENTS" 1960
50 cents 29 mm 8.9 g Copper-nickel Reeded Head with headress; text "REPUBLIC OF LIBERIA"; star Value and date within wreath; text "50 CENTS" 1966
50 cents 28.5 mm 8.9 g Copper-nickel Reeded Portrait of William R. Tolbert, Jr.; text "REPUBLIC OF LIBERIA"; stars; "W.R.TOLBERT JR." Coat of arms of Liberia; text "THE LOVE OF LIBERTY BROUGHT US HERE"; "50"; "FIFTY CENTS" 1976
50 cents 29 mm 2 mm 9 g Nickel-clad steel Reeded Head with headress; text "REPUBLIC OF LIBERIA"; star Value and date within wreath; text "50 CENTS" 2000
L$1 34 mm 20.74 g .900 Silver Reeded Head with headress; text "REPUBLIC OF LIBERIA"; star Value and date within wreath; text "ONE DOLLAR" 1961
L$1 34 mm 18 g Copper-nickel Reeded Head with headress; text "REPUBLIC OF LIBERIA"; star Value and date within wreath; text "ONE DOLLAR" 1966
L$1 34 mm 2.5 mm 18 g Copper-nickel Reeded Portrait of William R. Tolbert, Jr.; text "REPUBLIC OF LIBERIA"; stars; "W.R.TOLBERT JR." Map of Liberia; text "SELF RELIANCE"; "LIBERIA"; "ONE DOLLAR" 1976
L$5 33 mm 14.6 g Copper-nickel Plain/Smooth Coat of arms of Liberia; text "REPUBLIC OF LIBERIA" Military memorial; text "FIVE DOLLARS"; "5" 1982
L$5 20 mm 3.6 g Nickel-plated steel Plain/Smooth Portrait of President Edward J. Roye; text "REPUBLIC OF LIBERIA"; "FIVE DOLLARS" Map of Liberia; text "LONE STAR FOREVER"; "5" 2022
L$10 23 mm 4.8 g Nickel-plated steel Plain/Smooth Portrait of President Joseph J. Roberts; text "REPUBLIC OF LIBERIA"; "TEN DOLLARS" Map of Liberia; text "LONE STAR FOREVER"; "10" 2022

Banknotes

Five-dollar notes were introduced in 1989 which bore the portrait of J. J. Roberts. These were known as "J. J." notes. In 1991, similar notes were issued (see above) which replaced the portrait with Liberia's arms. These were known as "Liberty" notes.

On 29 March 2000, the Central Bank of Liberia introduced a new "unified" currency, which was exchanged at par for "J. J." notes and at a ratio of 1:2 for "Liberty" notes. The new banknotes each feature a portrait of a former president. These notes remain in current use, although they underwent a minor redesign in 2003, with new dates, signatures, and the CENTRAL BANK OF LIBERIA banner on the back.[5]

On 27 July 2016, the Central Bank of Liberia announced new banknotes will be introduced with enhanced security features. All of the denominations are the same as previous issues, with the L$500 banknote being introduced as part of this series.[6] On 6 October 2016, the Central Bank of Liberia introduced new banknotes, as announced.[7]

On 17 November 2021, the Central Bank of Liberia announced a new series of banknotes, omitting the L$5 and L$10 banknotes which have been replaced by coins, along with an entirely new denomination, the L$1000.[8]

1999 series
Images Value Background color Description Date of
Obverse Reverse Obverse Reverse Watermark first series Issue
[9] L$5 Red President Edward J. Roye Woman harvesting rice Seal of Liberia 1999 March 29, 2000
[10] L$10 Blue President Joseph J. Roberts Rubber tapper Seal of Liberia 1999 March 29, 2000
[11] L$20 Brown President William V. S. Tubman Young men by the road with scooters Seal of Liberia 1999 March 29, 2000
[12] L$50 Purple President Samuel K. Doe Worker on a palm plantation Seal of Liberia 1999 March 29, 2000
[13] L$100 Green President William R. Tolbert, Jr. Market woman and her child Seal of Liberia 1999 March 29, 2000
2016 series
Images Value Background color Description Date of
Obverse Reverse Obverse Reverse Watermark first series Issue
[14] L$5 Purple President Edward J. Roye Woman harvesting rice Seal of Liberia 2016 2016
[15] L$10 Blue President Joseph J. Roberts Rubber tapper Seal of Liberia 2016 2016
[16] L$20 Brown President William V. S. Tubman Young men by the road with scooters Seal of Liberia 2016 2016
[17] L$50 Red President Samuel K. Doe Worker on a palm plantation Seal of Liberia 2016 2016
[18] L$100 Green President William R. Tolbert, Jr. Market woman and her child Seal of Liberia 2016 2016
[19] L$500 Violet Men and woman Hippopotamus and its child Seal of Liberia 2016 2016
2021-2022 series
Images Value Background color Description Date of
Obverse Reverse Obverse Reverse Watermark first series Issue
L$20 Brown President William V. S. Tubman Young men by the road with scooters Seal of Liberia 2022 2022
L$50 Red President Samuel K. Doe Worker on a palm plantation Seal of Liberia 2022 2022
L$100 Green President William R. Tolbert, Jr. Market woman and her child Seal of Liberia 2021 2021
L$500 Violet Seven female designers of the Flag of Liberia Hippopotamus and its child Seal of Liberia 2022 2022
L$1,000 Blue Sixteen tribal masks of Liberia Capitol building in Monrovia Seal of Liberia 2022 2022

See also

Exchange rate

Current LRD exchange rates
From Google Finance: AUD CAD CHF CNY EUR GBP HKD JPY USD EUR JPY USD
From Yahoo! Finance: AUD CAD CHF CNY EUR GBP HKD JPY USD EUR JPY USD
From XE.com: AUD CAD CHF CNY EUR GBP HKD JPY USD EUR JPY USD
From OANDA: AUD CAD CHF CNY EUR GBP HKD JPY USD EUR JPY USD

References

  1. ^ Currency from the Central Bank of Liberia Archived 2006-05-27 at the Wayback Machine. Accessed 2008/03/19
  2. ^ Cuhaj, George S. (2010). Standard Catalog of World Paper Money General Issues (1368-1960) (13 ed.). Krause Publications. p. 801. ISBN 978-1-4402-1293-2.
  3. ^ "Tables of Modern Monetary Systems". 6 May 2006. Archived from the original on 6 May 2006. Retrieved 17 July 2017.
  4. ^ A complete list of the coins of Liberia Numista (https://en.numista.com). Retrieved on 2020-11-23.
  5. ^ Linzmayer, Owen (2012). "Liberia". The Banknote Book. San Francisco, CA: www.BanknoteNews.com.
  6. ^ "Liberia reported to issue new banknote family "shortly" | Banknote News". www.banknotenews.com. Retrieved 17 July 2017.
  7. ^ "New Liberian Dollar Banknotes Released". cbl.org.lr. Retrieved 17 July 2017.
  8. ^ "CBL Engages Public On Launch of New L$100 Banknotes | Central Bank of Liberia". www.cbl.org.lr. Retrieved 2022-09-27.
  9. ^ Liberia 5 Dollars
  10. ^ Liberia 10 Dollars
  11. ^ Liberia 20 Dollars
  12. ^ Liberia 50 Dollars
  13. ^ Liberia 100 Dollars
  14. ^ Liberia 5 Dollars
  15. ^ Liberia 10 Dollars
  16. ^ Liberia 20 Dollars
  17. ^ Liberia 50 Dollars
  18. ^ Liberia 100 Dollars
  19. ^ Liberia 500 Dollars
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