The Central Bank of Libya (CBL) started withdrawing all 50-Dinars banknotes from circulation on April 21, 2024, in response to rampant counterfeiting. The two versions of the 50-Dinar denomination shown below are being removed from circulation:
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Libyan 50-Dinars banknotes (Series 2016 and 2013)
The defunct banknotes can be exchanged at Libya’s commercial banks through August 29. After all the notes have been exchanged, Libya will have no 50-Dinars banknotes in circulation.
With Libya’s national security and economy in turmoil for some time, criminals took the opportunity to promote counterfeit banknotes and funnel them into Libya’s markets. The CBL reported that three different counterfeit issues of the 50-Dinars notes are in circulation. The bogus banknotes were issued by the Central Bank in Tripoli, a source in Benghazi, and a third source that has yet to be identified. Investigations are ongoing.
Sources/References:
MRI Bankers’ Guide to Foreign Currency
Northern Africa News
The Libya Observer +
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