Liberia to Revert to Banknotes for Lowest Denominations

According to local reports, the Central Bank of Liberia (CBL) has dropped plans to mint new L$5 and L$10 (Liberian dollar) coins under its L$79 billion programme to replace and increase its currency stocks. Following widespread public complaints, both denominations are expected to return as paper notes.

In addition, a new high denomination L$2,000 banknote has been proposed, along with an upgrade to the series’ security features (which include RollingStar i+ and RAPID® security threads).

The current series of banknotes and coins were issued in 2022. The banknotes, replacing those of the 2016 series – are in denominations of $20, $50, $100, $500 and $1,000 – the latter a new high denomination. $5 and $10 coins were also issued for the first time, replacing the notes of the previous series. Existing coins, in denominations from 5 cents to L$1, were still legal tender although seldom used, and have since been withdrawn.