A practical currency and money guide to travel, living and doing business in Liberia and the Liberian dollar (LRD).
What's in this Liberia currency guide:
The official currency of Liberia (country code: LR) is the Liberian dollar, with symbol L$ and currency code LRD.
The Liberian Dollar (LRD) is the official currency of Liberia, a country located in West Africa. It is abbreviated as LRD and is made up of 100 cents. The Central Bank of Liberia is responsible for issuing the currency and managing the country's monetary policy.
The Liberian Dollar is not pegged to any other currency, and its value is determined by market forces.
It's home to one of West Africa's best national parks, and still hangs on to a confident American spirit mixed with West African roots. And despite the ravages of the past, it is a fantastic place to travel, full of hope and energy. Liberia was founded by freed black slaves during the pre-Civil War antebellum era of the nineteenth century. The capital, Monrovia, was named after James Monroe. Liberia's flag closely resembles the American flag, reflecting the historical ties of Liberia to the United States.
After a decade of dusting themselves off and resuming normal life following their brutal civil war, Liberians experienced another deadly conflict in 2014 – the Ebola virus. While the nation is officially Ebola-free per the WHO, it's struggling economically to recover. With travel restrictions lifted, tourism can play a huge role in this.
English is the official language in Liberia, although dozens of tribal tongues are used, as well. If you’re traveling to remote areas, a local English-speaking guide will prove useful.
Liberian dollars are the official currency, but US dollars are the usual means of payment for visitors and are accepted everywhere. Visitor should bring enough cash to cover their stay, as ATMs and credit cards are almost unheard of. Rumor has it that a few ATMs are being installed in Monrovia in the near future, but better to be safe than sorry. Other currencies can be exchanged at Monrovia’s Liberian Bank for Development and Investment on Randall Street, which also holds a Western Union office able to process urgent cash transfers overseas within 24 hours.
If someone gives you Liberian Dollars in change, accept it because it will be useful to have some on hand for very small purchases, but once you have a little, be sure to get dollars back (except when your change is less than a dollar, they use local currency in lieu of coins).
Something to remember is that there are no internal flights within Liberia, nor is there train a service. There are no long distance buses for tourists. The government just received a few buses for public travel and they are usable for travel under the National Transit Authority (NTA) guidance with their main terminal in the Gardnerville suburb. Bush taxis go daily from Monrovia to most destinations, including Buchanan, Gbarnga, Ganta, Sanniquellie and the Sierra Leone border, although distant routes are severely restricted during the rainy season. Minivans (called 'buses') also ply most major routes, although they're more crowded and dangerous than bush taxis.
There is no passenger ferry service within Liberia, but you will find many unofficial canoes and boats providing transport on various waterways in the country.
The police can actually be a bit of a problem. While they're nowhere near as corrupt as they used to be, some members of the police force still stop foreign travellers and not release them until some form of bribe has been delivered, so watch out for that. Make sure you have a copy of your passport on you at all times, so if local authorities do decide to question you, you have readily available proof of identity and nationality.
Here we list some key points for expats and businesses to consider when managing financial dealings in Liberia:
Understand Liberian dollar currency exchange rates: Exchange rates can have a big impact on your finances, so it is important to keep an eye on the LRD exchange rate and consider using a currency exchange service or a credit card that does not charge foreign transaction fees to get the best exchange rate.
Use a local Liberian dollar bank account: A local LRD bank account can make it easier for you to manage your finances and pay bills while you are in Liberia. It may also be more convenient to use a local LRD bank account to make purchases and withdraw cash.
Research local laws and regulations: It is important to understand the local laws and regulations that apply to financial transactions in Liberia. This can help you avoid legal issues and ensure that you are complying with local requirements.
Consider the tax implications: It is important to understand the tax implications of living or doing business in Liberia. This can help you plan your finances and ensure that you are paying the correct amount of tax.
Seek financial advice: If you are unsure of how to manage your finances in Liberia, it is a good idea to seek the advice of a financial professional who is familiar with the local financial system. This can help you make informed decisions and avoid financial pitfalls.
The exchange rate of Liberian dollar (LRD), or the amount of LRD that can be exchanged for a foreign currency, can fluctuate rapidly based on a number of factors, including economic conditions, interest rates, and political events. Below you can check the latest USD/LRD rate plus recent trend, chart, and historic rates.
15 Mar 2023
|0.7% ▲||2 Week|
29 Dec 2022
|4.9% ▲||3 Month|
29 Mar 2022
|5.9% ▲||1 Year|
30 Mar 2018
|23.2% ▲||5 Year|
31 Mar 2013
|117.6% ▲||10 Year|
The below comparison table makes it easy to find the best exchange rates and lowest fees when you want to make an International Money Transfer to Liberia or planning a trip or maybe living there, so will need to exchange and spend Liberian dollar.
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It is important to note that the exchange rate of the Liberian dollar can change rapidly and that past performance is not necessarily indicative of future performance. It is advisable to carefully consider the risks and factors that may affect LRD exchange rates before making any financial decisions.