MONEY

IT’S A RICH MAN’S WORLD

By Emma Parker

In Libya, the majority of transactions are conducted in cash using the local currency, the Dinar.  Credit cards are not frequently accepted; however they can be used in some hotels and clothing stores.  Tripoli has a number of ATMs which can be used to withdraw Dinar.



Before travelling, make sure you inform your bank and credit card companies to ensure you are granted access to your accounts while overseas.


If you have travelled with foreign currency, the Corinthia Hotel and the Al Aruba food store (Gargaresh Road, Abanuwas) will transfer money for you.





What do you get for your buck?


1 Libyan Dinar (LYD) will get you:         



  1. * 1 litre of concentrated orange juice

  2. * 2/3 of a litre of milk (commonly UHT)

*  4 chocolate coated ice creams

  1. * 6.25 litres of petrol (yes it’s really that cheap!)

  2. * 2 cans of soft drink

*  More piping hot, freshly baked bread than you can carry





Currency rates (as of April 2010)


1    GBP £    =     1.93793 LYD

1    EU €       =    1.72064 LYD

1    AU $       =    1.17115 LYD

1    US  $      =    1.27026 LYD




For accurate currency exchange rates click here.





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Edited April 2010

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