Liberian dollar

Last updated
Liberian dollar
Lib5$.png
A current $5 banknote
ISO 4217
CodeLRD (numeric:430)
Subunit 0.01
Unit
Symbol $, L$, LD$
Denominations
Subunit
1100 cent
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)Flag of Liberia.svg  Liberia
Issuance
Central bank Central Bank of Liberia
Website cbl.org.lr
Valuation
Inflation 7.7%
Source The 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-named currencies. It is divided into 100 cents.

Contents

First use

Twenty-five cent note (1880), previously unknown as a denomination. LIB-10A-Republic of Liberia-25 cents (1880).jpg
Twenty-five cent note (1880), previously unknown as a denomination.
19th Century Liberian One dollar. 1862 Liberian One Dollar.jpg
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 seven-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) Reverse of the 1 Dollar coin of Liberia (1968).jpg
1 Dollar coin of Liberia (1968)

In 1937, coins were issued in denominations of 12, 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
ImageValueTechnical parametersDescriptionDate of first minting
DiameterThicknessMassCompositionEdgeObverseReverse
12 cent18 mm2.42 g Brass Plain/Smooth Elephant; text "REPUBLIC OF LIBERIA"; starPalm tree divides ship and sun within circle flanked by stars above date; text "ONE HALF CENT"1937
12 cent18 mm1.3 mm2.50 g Copper-nickel Plain/Smooth Elephant; text "REPUBLIC OF LIBERIA"; starPalm tree divides ship and sun within circle flanked by stars above date; text "ONE HALF CENT"1941
1 cent25.45 mm5.19 gBrassPlain/Smooth Elephant; text "REPUBLIC OF LIBERIA"; starPalm tree divides ship and sun within circle flanked by stars above date; text "ONE CENT"1937
1 cent25.45 mm1.38 mm5 gCopper-nickelPlain/Smooth Elephant; text "REPUBLIC OF LIBERIA"; starPalm tree divides ship and sun within circle flanked by stars above date; text "ONE CENT"1941
1 cent18 mm1.5 mm2.6 gBrassPlain/Smooth Elephant; text "REPUBLIC OF LIBERIA"; starShip 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 cents28 mm1.64 mm8 gBrassReeded Elephant; text "REPUBLIC OF LIBERIA"; starPalm tree divides ship and sun within circle flanked by stars above date; text "TWO CENTS"1937
2 cents29.05 mm1.7 mm8.24 gCopper-nickelPlain/Smooth Elephant; text "REPUBLIC OF LIBERIA"; starPalm tree divides ship and sun within circle flanked by stars above date; text "TWO CENTS"1941
5 cents20 mm1.6 mm4.1 gCopper-nickelPlain/Smooth Elephant; text "REPUBLIC OF LIBERIA"; starShip 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 cents17 mm1.16 mm2.07 g.900 Silver ReededHead with headress; text "REPUBLIC OF LIBERIA"; starValue and date within wreath; text "10 CENTS"1960
10 cents16.5 mm1.9 mm1 gCopper-nickelReededHead with headress; text "REPUBLIC OF LIBERIA"; starValue and date within wreath; text "10 CENTS"1966
25 cents22.96 mm1.45 mm5.18 g.900 SilverReededHead with headress; text "REPUBLIC OF LIBERIA"; starValue and date within wreath; text "25 CENTS"1960
25 cents23 mm4.8 gCopper-nickelReededHead with headress; text "REPUBLIC OF LIBERIA"; starValue and date within wreath; text "25 CENTS"1966
25 cents23 mm5.2 gCopper-nickelReededPortrait 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 cents23 mm1.76 mm4.46 g Nickel-clad steel ReededHead with headress; text "REPUBLIC OF LIBERIA"; starValue and date within wreath; text "25 CENTS"2000
50 cents28.5 mm10.37 g.900 SilverReededHead with headress; text "REPUBLIC OF LIBERIA"; starValue and date within wreath; text "50 CENTS"1960
50 cents29 mm8.9 gCopper-nickelReededHead with headress; text "REPUBLIC OF LIBERIA"; starValue and date within wreath; text "50 CENTS"1966
50 cents28.5 mm8.9 gCopper-nickelReededPortrait 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 cents29 mm2 mm9 gNickel-clad steelReededHead with headress; text "REPUBLIC OF LIBERIA"; starValue and date within wreath; text "50 CENTS"2000
L$134 mm20.74 g.900 SilverReededHead with headress; text "REPUBLIC OF LIBERIA"; starValue and date within wreath; text "ONE DOLLAR"1961
L$134 mm18 gCopper-nickelReededHead with headress; text "REPUBLIC OF LIBERIA"; starValue and date within wreath; text "ONE DOLLAR"1966
L$134 mm2.5 mm18 gCopper-nickelReededPortrait 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$533 mm14.6 gCopper-nickelPlain/SmoothCoat of arms of Liberia; text "REPUBLIC OF LIBERIA"Military memorial; text "FIVE DOLLARS"; "5"1982
L$520 mm3.6 gNickel-plated steelPlain/SmoothPortrait of President Edward J. Roye; text "REPUBLIC OF LIBERIA"; "FIVE DOLLARS"Map of Liberia; text "LONE STAR FOREVER"; "5"2022
L$1023 mm4.8 gNickel-plated steelPlain/SmoothPortrait 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
ImagesValueBackground colorDescriptionDate of
ObverseReverseObverseReverseWatermarkfirst seriesIssue
[9] L$5Red President Edward J. Roye Woman harvesting rice Seal of Liberia 1999March 29, 2000
[10] L$10Blue President Joseph J. Roberts Rubber tapper Seal of Liberia 1999March 29, 2000
[11] L$20Brown President William V. S. Tubman Young men by the road with scooters Seal of Liberia 1999March 29, 2000
[12] L$50Purple President Samuel K. Doe Worker on a palm plantation Seal of Liberia 1999March 29, 2000
[13] L$100Green President William R. Tolbert Jr. Market woman and her child Seal of Liberia 1999March 29, 2000
2016 series
ImagesValueBackground colorDescriptionDate of
ObverseReverseObverseReverseWatermarkfirst seriesIssue
[14] L$5Purple President Edward J. Roye Woman harvesting rice Seal of Liberia 20162016
[15] L$10Blue President Joseph J. Roberts Rubber tapper Seal of Liberia 20162016
[16] L$20Brown President William V. S. Tubman Young men by the road with scooters Seal of Liberia 20162016
[17] L$50Red President Samuel K. Doe Worker on a palm plantation Seal of Liberia 20162016
[18] L$100Green President William R. Tolbert Jr. Market woman and her child Seal of Liberia 20162016
[19] L$500VioletMen and woman Hippopotamus and its child Seal of Liberia 20162016
2021–2022 series
ImagesValueBackground colorDescriptionDate of
ObverseReverseObverseReverseWatermarkfirst seriesIssue
L$20Brown President William V. S. Tubman Young men by the road with scooters Seal of Liberia 20222022
L$50Red President Samuel K. Doe Worker on a palm plantation Seal of Liberia 20222022
L$100Green President William R. Tolbert Jr. Market woman and her child Seal of Liberia 20212021
L$500VioletSeven female designers of the Flag of Liberia Hippopotamus and its child Seal of Liberia 20222022
L$1,000BlueSixteen tribal masks of LiberiaCapitol building in Monrovia Seal of Liberia 20222022

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

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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