The Libyan Dinar is the official currency of Libya, introduced in 1971 to replace the Libyan Pound. It is abbreviated as LYD and is subdivided into 1,000 dirhams. The currency is issued by the Central Bank of Libya and features various designs that often highlight important national symbols and historical figures. The value of the Libyan Dinar can fluctuate due to economic conditions, including oil prices, which significantly impact Libya's economy. The currency is used for everyday transactions within the country, and its exchange rate can vary when traded against other currencies like the US Dollar or the Euro.