Libyan pound

The Libyan pound (Arabic جنيه, junieh; sign: £L) was the currency of Libya between 1951 and 1971.

In 1943, Libya was split into French and British mandate territories.

The Libyan pound was one of the strongest currencies in the world, with £L1=$2.80 USD.

This was because of the flourishing economy and the new discovery of oil reserves,[2][3] although a parallel market currency exchange existed which reflected internal economic conditions.

In 1959, the National Bank of Libya took over the issuance of paper money with denominations of £L1⁄2, £L1, £L5, and £L10.