Currency Information on Liberian Dollar
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.