LYD (Libyan Dinar)

AAA

DEFINITION of 'LYD (Libyan Dinar)'

The currency abbreviation for the Libyan dinar (LYD), the currency for Libya. The Libyan dinar is made up of 1000 dirham and is often presented with the symbol LD. In Libya, the dinar is often called jni or jneh. The word dirham is never used in everyday language, "garsh" is used instead, which equals 10 dirhams.

INVESTOPEDIA EXPLAINS 'LYD (Libyan Dinar)'

In 1951, Libya gained independence and introduced its own currency, the Libyan pound. The Libyan dinar replaced the Libyan pound in 1971 at par. Prior its independence, many currencies had been used in Libya, and at one point the Italian lira, the Algerian franc and the Egyptian pound were all used across the nation.

RELATED TERMS
  1. Currency

    A generally accepted form of money, including coins and paper ...
  2. Quote Currency

    The second currency quoted in a currency pair in forex. In a ...
  3. Forex Futures

    An exchange-traded contract to buy or sell a specified amount ...
  4. Currency Pair

    The quotation and pricing structure of the currencies traded ...
  5. Forex - FX

    The market in which currencies are traded. The forex market is ...
  6. Base Currency

    The first currency quoted in a currency pair on forex. It is ...
Related Articles
  1. Forex Education

    Currency Exchange: Floating Rate Vs. Fixed Rate

    Baffled by exchange rates? Wonder why some currencies fluctuate while others are pegged? This article has the answers.
  2. Investing

    The Best Way To Approach The Currency Hedge

    Currency is going to continue to be an important factor in investment choices, particularly as the dollar strengthens.
  3. Economics

    Does A Junk Rating Reflect Russia's Fundamentals?

    Moody’s, like other credit rating agencies, has downgraded Russia’s sovereign debt rating to non-investment grade, but does this reflect Russia's economy?
  4. Investing

    Hedged ETFs That Help You Cushion Currency Impact

    If you’re an investor holding non-U.S. assets, the returns on your investments will be affected when you translate your investment from its local currency
  5. Investing

    How To Take Advantage Of A Stronger U.S. Dollar?

    If you are invested in the market, you will feel the effects of a stronger dollar, especially if overseas interests are part of your diversified portfolio
  6. Economics

    Canadian Dollar Continues To Drop, But Why?

    The Canadian dollar-US dollar exchange rate is positively related to oil prices partly due to crude oil's big share of Canada's total FX currency earnings.
  7. Mutual Funds & ETFs

    Greedy on the Dollar? See This Leveraged ETN

    There are several ways to play the rise in the U.S. Dollar, and the UUPT ETN is definitely one way to consider playing it.
  8. Forex

    Is it Time to Buy Russian Rubles?

    Does the Russian Ruble now present an opportunity? Or is there more pain to come?
  9. Forex

    Why Switzerland Scrapped the Euro

    Why did the Swiss scrap its peg to the Euro and what impact will it have globally?
  10. Chart Advisor

    Use This ETF To Trade The Swiss Franc

    Traders were stunned last week when the Swiss National Bank removed the currency peg that tied the value of the Swiss franc to the euro.

You May Also Like

Hot Definitions
  1. Subsidy

    A benefit given by the government to groups or individuals usually in the form of a cash payment or tax reduction. The subsidy ...
  2. Sunk Cost

    A cost that has already been incurred and thus cannot be recovered. A sunk cost differs from other, future costs that a business ...
  3. Technical Skills

    1. The knowledge and abilities needed to accomplish mathematical, engineering, scientific or computer-related duties, as ...
  4. Prepaid Expense

    A type of asset that arises on a balance sheet as a result of business making payments for goods and services to be received ...
  5. Gordon Growth Model

    A model for determining the intrinsic value of a stock, based on a future series of dividends that grow at a constant rate. ...
  6. Cost Accounting

    A type of accounting process that aims to capture a company's costs of production by assessing the input costs of each step ...
Trading Center