Rich in oil reserves, the Libyan Dinar is the strongest currency in Africa. One Libyan Dinar is equivalent to 0.71 US dollars. The Libyan Dinar (LYD) is the currency of Libya, which is situated in North Africa. It was first introduced in 1971, replacing the pound. The dinar is subdivided into 1000 dirhams. The Central Bank of Libya is responsible for issuing and managing the Libyan dinar. The currency is widely used throughout the country and is accepted at most major businesses, including hotels, restaurants, and shops. The dinar is also used as a reserve currency by many countries in the Middle East and North Africa. Despite being a relatively stable currency in recent years, the dinar has experienced significant fluctuations due to political instability in the country.