Liberia new currency
You're referring to the new currency of Liberia!
Yes, Liberia, a country in West Africa, has introduced a new currency called the Liberian Dollar (LRD) in 2019. The new currency replaced the old Liberian Dollar, which was pegged to the US Dollar.
Here are some key features of the new Liberian Dollar:
- Denominations: The new currency comes in denominations of 5, 10, 20, 50, 100, 200, 500, and 1,000 Liberian Dollars.
- Design: The banknotes feature images of notable Liberian figures, including former presidents, national heroes, and cultural icons. The coins feature images of Liberian wildlife and landmarks.
- Security features: The new currency has advanced security features, including watermarks, holograms, and color-shifting ink to prevent counterfeiting.
- Pegged to the US Dollar: The Liberian Dollar is pegged to the US Dollar at a fixed rate of 1 USD = 120 LRD.
- Phasing out the old currency: The old Liberian Dollar was gradually phased out, with a deadline of December 31, 2020, for its use to cease.
The introduction of the new currency aims to improve the country's financial stability, reduce inflation, and increase economic growth.