Liberia is a country in West Africa. Its capital city Monrovia is home to the Liberia National Museum, which holds an exhibit of the country's national history and culture. The Liberian dollar (LRD) is the official currency of the Republic of Liberia. It was introduced in 1847 after Liberia's independence. The Central Bank of Liberia, established in October 1999, prints and maintains the value of the LRD. This currency circulates alongside the U.S. dollar since the United States of America and Liberia have strong historical ties with each other. In the foreign exchange market, the Liberian dollar is represented by the L$ symbol.
The Liberian dollar is not pegged to any other currency. Liberia's Central Bank maintains and authorizes the minting of coins and the printing of banknotes. Banknotes were circulated in issues of $5, $10, $20, $50, and $100 denominations. One Liberian dollar is divided into 100 cents. Coins are in denominations of 5, 10, 25, and 50 cents. Liberia also has L$1 coins in circulation. The country began to use the Liberian dollar as its official currency when it obtained its independence in 1847 from the American Colonization Society. It was one of the first actions of the government to push the country forward.
