15 Jan 2012

Old currency being withdrawn by Libya

12:38 pm on 15 January 2012

Libya has started withdrawing from circulation old currency notes which bear the picture of Colonel Muammar Gaddafi, the country's former ruler.

Libyan Central Bank governor Saddeq Omar Elkaber said in Tripoli that people must hand over 50 dinar banknotes, the highest value currency, by 15 March. Smaller notes will be phased out later.

Mr Elkaber said the bank has started printing a new currency to replace existing notes.

Deputy governor Ali Mohammed Salem earlier said the first batch of 300 million dinars was delivered on 24 December.