Currency Information on Liberian Dollar - LRD — Liberian Dollar – L$ or LD$
Liberia first started using the Liberian dollar in 1847; this dollar was pegged at a 1:1 ratio with the US dollar. In 1907 the Liberian dollar was replaced by the introduction of the British West African Pound, pegged to the pound sterling.
The British West African Pound was replaced by the introduction of the US dollar in 1935.
However Liberia began issuing its own currency alongside the US denominations. In the 1980’s, the minting of $5 coins worsened the already struggling currency.
After the economic crisis. $5 and $1 coins weighed the same, which was abused by traders, leading to the issuing of $5 notes, rather than coins.
Currently in circulation are 5, 10, 25, and 50 cent coins, along with $1 coins. Banknotes are available in denominations of 5, 10, 20, 50 and 100 dollars.
Given the current crisis in my country, I was forced to move abroad to find a better financial life. I’ve been living and working in a good UK job for two years now. Although my wife and children came with me I send money to my relatives in Greece very often. Every time I do so I make sure I'm getting a good currency exchange deal by checking online how to send money abroad at the best rates.
Comment written by Kostas Skordas Architect.
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