The Libyan parallel Central Bank in Bayda city in eastern Libya announced issuing new coin worth 1 Libyan Dinar (LYD1).
The central bank announced on its Facebook Thursday that the coin will be circulating in the banks starting November 2nd.
It also added that the reason for the coin currency is that the LYD1 banknote became so old, which urged the bank to issue a coin substitute.
However, it added that the coins will be circulating alongside the banknotes and no withdrawal of the banknotes will take place.