DEFINITION of 'LRD'

The abbreviation for the Liberian dollar. The LRD has been the currency of Liberia since 1943, and is subdivided into 100 cents. Historically, it was common for the U.S. dollar to be used right alongside the Liberian dollar because of the LRD's instability.

BREAKING DOWN 'LRD'

Liberia, one of the oldest African republics, was founded by freed American slaves in 1821-22. Liberia gained its independence in 1847. Similar to the U.S., the country is a republic with three branches of government.

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