Binding Liberian legislation defining the Liberian dollar, legal-tender rules and the Central Bank’s sole issue authority.
TL;DR:
- Section 22 makes the Liberian dollar, divided into one hundred cents, Liberia’s currency and legal tender and requires transaction prices to be indicated in Liberian dollars and cents.
- Section 22 also retains United States currency as legal tender in Liberia at prevailing market rates.
- Section 23 gives the Central Bank sole authority to issue Liberian-dollar banknotes and coins, subject to the Constitution.
Summary
Part V sections 22–23 define the Liberian dollar as Liberia’s currency and legal tender, retain the US dollar as legal tender and reserve Liberian-dollar note and coin issue to the Central Bank.