Cash is king in Libya, since there are no functioning international ATMs, no card payments, and no way to buy Libyan Dinar before you arrive. It sounds daunting, but with a little preparation it's entirely straightforward. Here's what you need to know.
With no functioning international ATMs and no card payments - money should be your biggest concern when it comes to travelling in Libya.
So make sure to prepare money before travelling in Libya.
But don’t worry - it’s not complicated and you can exchange Libyan money upon arrival.
Just a few things to know before you go!
An Introduction to the Libyan Dinar
The Dual Exchange Rate
Cash Only in Libya
What Currency to Bring
How Much Cash to Bring
Exchanging Currency in Libya
ATMs in Libya
The Libyan Dinar
Libya's official currency is the Libyan Dinar, abbreviated as LYD and often written as LD.
One dinar is divided into 1,000 dirhams. Banknotes in circulation include denominations of 1, 5, 10, 20, and 50 dinars. You will rarely encounter coins.
You won’t be able to find Libyan Dinar before your tour to Libya. It is not available to buy or sell at exchange bureaus in Europe, the UK, or most other countries before you travel to Libya.
Your currency exchange happens inside Libya.
The Dual Exchange Rate
One of the most important things to understand about Libya's monetary system is that a dual exchange rate has existed for several years.
There is the official rate set by the Central Bank of Libya, and there is a parallel (informal) market rate that reflects the actual purchasing power of foreign currency in the country.
The gap between these two rates has varied significantly over time and has at points been substantial.
This means that what you find on the internet may vary a lot from how you end up actually exchanging (usually in your favour!)
Make sure your local guide takes you to a good place to exchange money for the best rates.
Cash Only in Libya
Libya operates entirely on cash. This is not an inconvenience in the way that a shortage of card machines might be in Europe. It is simply how the economy functions, and it applies uniformly.
Credit cards are not accepted anywhere that tourists are likely to encounter. Debit cards connected to international networks such as Visa or Mastercard do not work in Libyan ATMs, because Libyan ATMs are not connected to international banking networks. Contactless payments, mobile payments, and all other digital payment methods are not available.
You need cash, and you need to plan accordingly.
What Currency to Bring
Bring US dollars or euros. Clean, new notes. Both are widely accepted for exchange within Libya and are the currencies that the local economy is most accustomed to handling.
Bring cash in good condition. Worn, torn, or marked banknotes can be refused by exchange facilities. Bring notes in the highest practical denominations (50 or 100 USD/EUR) for the bulk of your funds, with some smaller denominations for situations where change may be an issue. You may find a better exchange rate with higher notes.
How Much Cash to Bring
On a Koryo Tours tour to Libya you don’t have to worry too much about cash in Libya because everything is handled for you. Food, entry fees, transport, accommodation, etc. All included. You’ll just need a bit of cash for any extras you want along the way, such as extra drinks or souvenirs.
Always bring more than you think you’ll need - because you won’t have the ability to get anymore once you’ve arrived.
So how much cash to bring depends on your personal spending, but a practical framework for a 13-day Libya itinerary where accommodation, meals, transport, and entry fees are all included in the tour price is as follows -
Tips for local guides
A reasonable budget for tips across a 13-day tour is USD 150 to USD 250, depending on your personal approach.
Souvenirs and personal shopping
The souqs of Tripoli's old medina, the ceramics workshops of Gharyan, and the craft markets you encounter throughout the trip all offer great opportunities to buy.
You can spend anything from 10 - 1000 USD!
Other expenses
The occasional extra tea, a personal purchase outside the programme, or other small expenditures.
Approx 20-50 USD!
Exchanging Currency in Libya
Currency exchange for tourists typically happens at the airport on arrival in Tripoli.
Usefully, the money exchange is right next to where you can get a SIm card. So, head there afterwards!
ATMs in Libya
There are ATMs in Libya providing international card service.
Koryo Tours
Group Tours to Libya
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