Make Payments in LRD - Liberian Dollar
Pay in Liberian Dollars (LRD)
Mondial Change allows you to make international payments in LRD (Liberian Dollar) with ease. Manage your Liberian Dollar beneficiaries, track your transactions in real-time, and enjoy a secure online platform. We do not apply any exchange commission on your LRD operations (a spread is applied to the exchange rate, which slightly degrades the interbank rate on the currency pair traded). Your customer rate is always communicated transparently before the validation of each of your transactions.
Receive Payments in Liberian Dollar (LRD)
It is currently not possible to receive payments in LRD.
Mondial Change Answers All Your Questions About Payments in Liberian Dollars (LRD)
What is the timeframe for a payment in LRD to be credited to the beneficiary's account?
It generally takes a minimum of 2 business days for a transfer in Liberian Dollar to be credited to the beneficiary's account. However, these timeframes are not contractual, and our partners responsible for the execution and routing of payments cannot be held liable if LRD payments are credited beyond 2 business days to the beneficiary's account. External events such as processing delays by intermediary banks, public holidays, execution time, or compliance checks can have a significant impact on the payment reception timeframes.
What are the fees for a payment in Liberian Dollar (LRD)?
The fees applied to transfers in Liberian Dollar (LRD) generally vary from 0 to 10 euros depending on the agreement made with Mondial Change's trading room. The rate mainly depends on your annual LRD exchange volume and the number of Liberian Dollar payments made during the year.
Are there minimum or maximum amounts for payments in Liberian Dollar (LRD)?
Mondial Change and its partners verify that your Liberian Dollar flows are consistent with the data declared during account opening and consistent with your activity volume to ensure compliance and security. If there are restrictions on transaction volumes, they will be communicated to you well in advance of the validation of your operations.
What are the specific rules for executing a payment in Liberian Dollar (LRD)?
For payments in LRD via the SWIFT network, the following information must be provided at a minimum:
• Full name of the beneficiary
• Full address of the beneficiary
• Local account number
• SWIFT code of the beneficiary's bank
Is it possible to modify a payment in Liberian Dollar (LRD) after it has been executed?
Yes, it is possible with some of our partners to modify a payment in Liberian Dollar (LRD) even after it has been sent in SWIFT. If you have, for example, made an error in the beneficiary's name or account number, the correction is made through a SWIFT amendment. If the payment was not executed via the SWIFT network, then it is not possible to make such amendments, and you must wait for the payment to be returned if applicable.
What are the public holidays when payments in Liberian Dollar (LRD) cannot be executed?
January 1: New Year’s Day
February 11: Armed Forces Day
Variable date (2nd Wednesday of March): Decoration Day (Remembrance Day)
Variable date (2nd Friday of April): National Fast and Prayer Day
May 14: National Unification Day
July 26: Independence Day
August 24: Flag Day
Variable date (1st Thursday of November): Thanksgiving Day
November 29: William V.S. Tubman Day
December 25: Christmas Day
Variable date: Eid al-Fitr
Variable date: Eid al-Adha
History of the Liberian Dollar
The Liberian Dollar (LRD) has been the official currency of Liberia since 1943. It replaced the former dollar based on the American monetary system. Historically aligned with the US Dollar, the LRD is still used alongside the USD in many transactions, especially in urban areas. Liberia has experienced several episodes of civil war affecting its economy and monetary stability, but the LRD remains a symbol of sovereignty. It is subdivided into 100 cents, although coins are rarely used.
Monetary Policy of the Liberian Dollar
The Central Bank of Liberia (CBL) is responsible for the monetary policy and issuance of the LRD. Its primary objective is to maintain price stability and confidence in the national currency. Liberia operates under a floating exchange rate regime, even though the US Dollar is widely used. The CBL uses instruments such as the policy rate, reserve requirements, and market operations to regulate the money supply. However, persistent dollarization and the country's weak industrial base complicate monetary management.
Characteristics of the Liberian Dollar
The Liberian Dollar (LRD) is a currency with limited domestic use, often competed by the USD in regular exchanges. Public sector salaries are often paid in LRD, while international transactions are generally conducted in US Dollars. The LRD is primarily used for daily expenses in rural areas. The banknotes feature historical figures and national symbols. Its convertibility is low, but it remains an essential pillar of the local economy and an economic policy tool for Liberian authorities.