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Liberia
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The Central Bank of Liberia (CBL) was established on October 18, 1999 by an Act of the National Legislature of the Republic of Liberia. It became functional in 2000 and succeeds the National Bank of Liberia (NBL). The principal objective of the CBL is to achieve and maintain price stability in the Liberian economy. The Bank’s current governor is Joseph Mills Jones.

Liberia Banks

There are a number of licensed commercial banks operating in Liberia. The commercial banks are: Liberian Bank for Development & Investment (LBDI), Ecobank Liberia Limited (EBLL), International Bank (Liberia) Limited (IBLL), Global Bank Liberia Limited (GBLL), First International Bank Liberia Limited (FIBLL), United Bank for Africa Liberia Limited (UBALL), Access Bank Liberia (a microfinance bank) and Guaranty Trust Bank Liberia (GTBL).

Currency

The Liberian Dollar (currency symbol: L$/LD$, currency code: LRD) has been the official currency of Liberia since 1943. It is divided into 100 cents. In 1997, new banknotes were introduced in dominations of 5, 10, 20, 50 and 100 dollars, and are in current use. The circulated coins are the 5, 10, 25, 50 cents and the 1 dollar coin.

The Liberian dollar per US$ rate is 71.00 (2010). The inflation rate in Liberia was 11.2% in 2007.


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