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The Jordanian dinar (Arabic: دينار‎; code: JOD; unofficially abbreviated as JD) has been the currency of Jordan since 1950.

Jordanian dinar
Jordanian currecy.jpeg
Jordanian dinar banknotes and coins.
ISO 4217
CodeJOD
Denominations
Subunit
 ​110dirham
 ​1100qirsh or piastre
 ​11000fils
Symbolد.أ
Banknotes1, 5, 10, 20, 50 dinars
Coins12, 1, ​2 12, 5, 10 piastres/qirsh, ​14, ​12, 1 dinar
Demographics
Official user(s) Jordan
Unofficial user(s) West Bank (Palestinian territories), alongside Israeli shekel
Issuance
Central bankCentral Bank of Jordan
 Websitewww.cbj.gov.jo
Valuation
Inflation1.7%
 SourceThe World Factbook, 2009 est.
Pegged withUS dollar[1]
US$ = 0.708 JOD (buy)
US$ = 0.710 JOD (sell)

The Jordanian dinar is also widely used alongside the Israeli shekel in the West Bank.[2][3] The dinar is divided into 10 dirhams, 100 qirsh (also called piastres) or 1000 fulus.

Contents

HistoryEdit

From 1927 to 1950, the Palestine Currency Board issued the Palestine pound as the official currency in both Mandatory Palestine and the Emirate of Transjordan. After Jordan became an independent kingdom on 25 May 1946, the idea of issuing a national currency arose and led to the passing of the Provisional Act No. 35 of 1949. Under this Act, the Jordan Currency Board was formed, which became the sole authority entitled to issue Jordanian currency in the kingdom. The London-based entity consisted of a president and four members.

As of 1 July 1950, the Jordanian dinar became the kingdom’s official currency, and use of the Palestine pound ceased in the kingdom on 30 September 1950. Although issued by the Jordan Currency Board, the notes bear the country's official name, "The Hashemite Kingdom of the Jordan".[4]

Until 1992, coins were denominated in Arabic using fils, qirsh, dirham and dinar but in English only in fils and dinar. Since 1992, the fils and dirham are no longer used in the Arabic and the English denominations are given in dinar and either qirsh or piastres.

CoinsEdit

Coins were introduced in 1949 in denominations of 1, 5, 10, 20, 50 and 100 fils. The first issue of 1 fils were mistakenly minted with the denomination given as "1 fil". 20 fils coins were minted until 1965, with 25 fils introduced in 1968 and ​14 dinar coins in 1970. The 1 fils coin was last minted in 1985. In 1996, smaller ​14 dinar coins were introduced alongside ​12 and 1 dinar coins.

Fifth Series Coins
Value Diameter Weight Composition Edge Obverse Reverse First Minted Year Common Reference
12 qirsh (piastre) 21 mm 4 g Copper-plated steel Plain Hussein bin Talal facing left Lattice design, Eastern Arabic numerals12 1996
1 qirsh (piastre) 25 mm 5.5 g Bronze-plated steel Lattice design; Eastern Arabic numerals 1 1994
2 12 piastres (qirsh) 22 mm 3 g Nickel-plated steel Milled Hussein bin Talal facing left Lattice design, Eastern Arabic numerals2 12 1992 25 fils
5 piastres (qirsh) 26 mm 5 g Lattice design, Eastern Arabic numerals 5 50 fils
10 piastres (qirsh) 28 mm 8 g Lattice design, Eastern Arabic numerals 10 100 fils
14 dinar 26.5 mm
Heptagonal
7.4 g Brass Plain Hussein bin Talal facing left Leaf design, Eastern Arabic numerals14 1996 Rub'a1, 25 piastres, 250 fils
12 dinar 29 mm
Heptagonal
Leaf design, Eastern Arabic numerals12 Nusf2, 50 piastres, 500 fils
12 dinar 29 mm
Heptagonal
9.6 g Ring: Aluminium bronze
Center: Cupronickel
Plain Hussein bin Talal facing left Leaf design, Eastern Arabic numerals12 1997
1 dinar 32 mm
Heptagonal
Brass Plain Hussein bin Talal facing left Leaf design, Eastern Arabic numerals 1 1996
1 dinar 24 mm Milled 1998
Sixth Series Coins
Value Diameter Weight Composition Edge Obverse Reverse First Minted Year Common Reference
1 qirsh (piastre) 25 mm 5.5 g Copper-plated steel Plain Abdullah II facing right Lattice design; Eastern Arabic numerals 1 2000
5 piastres (qirsh) 26 mm 5 g Nickel-plated steel Milled Abdullah II facing right Lattice design, Eastern Arabic numerals 5 2000 50 fils
10 piastres (qirsh) 28 mm 8 g Lattice design, Eastern Arabic numerals 10 100 fils
14 dinar 26.5 mm
Heptagonal
7.4 g Brass Plain Abdullah II facing right Leaf design, Eastern Arabic numerals14 2004 Rub'a1, 25 piastres, 250 fils
12 dinar 29 mm
Heptagonal
9.6 g Ring: Aluminium bronze
Center: Cupronickel
Plain Abdullah II facing right Leaf design, Eastern Arabic numerals12 2000 Nusf2, 50 piastres, 500 fils
  1. rub'a is Arabic for "piece of four" or "quarter".
  2. nusf is Arabic for "piece of two" or "half".

BanknotesEdit

In 1949, banknotes were issued by the government in denominations of ​12, 1, 5, 10 and 50 dinars. From 1959, the Central Bank of Jordan took over note production. 20 dinar notes were introduced in 1977, followed by 50 dinars in 1999. ​12 dinar notes were replaced by coins in 1999.

The Fourth Series of the Central Bank of Jordan[5]
Obverse Reverse Value Dimensions Main Color Obverse Reverse Printed Date Issued Date Watermark
    1 dinar 133 × 74 mm Lime and green Hussein bin Ali Great Arab Revolt 2002
Hijri 1423
March 30, 2003 Sharif Hussein bin Ali
    5 dinars 137 × 74 mm Brick orange Abdullah bin al-Hussein Ma’an Palace December 22, 2002 Abdullah I bin al-Hussein
    10 dinars 141 × 74 mm Blue Talal bin Abdullah First Jordanian Parliament Building Talal bin Abdullah
    20 dinars 145 × 74 mm Cyan Hussein bin Talal Dome of the Rock February 2, 2003 Hussein bin Talal
    50 dinars 149 × 74 mm Pink and brown Abdullah bin al-Hussein Raghadan Palace Abdullah II bin al-Hussein

Fixed exchange rateEdit

Since October 23, 1995, the dinar has been officially pegged to the IMF's special drawing rights (SDRs). In practice, it is fixed at 1 U.S. dollar = 0.709 dinar most of the time, which translates to approximately 1 dinar = 1.41044 dollars.[6][7] The Central Bank buys U.S. dollars at 0.708 dinar per dollar, and sells U.S. dollars at 0.710 dinar per dollar.[8]

Current JOD exchange rates
From Google Finance: AUD CAD CHF EUR GBP HKD JPY USD ILS
From Yahoo! Finance: AUD CAD CHF EUR GBP HKD JPY USD ILS
From XE: AUD CAD CHF EUR GBP HKD JPY USD ILS
From OANDA: AUD CAD CHF EUR GBP HKD JPY USD ILS
From fxtop.com: AUD CAD CHF EUR GBP HKD JPY USD ILS

See alsoEdit

ReferencesEdit

  1. ^ "Exchange rates of major foreign currencies announced by CBJ". Retrieved 14 June 2016.
  2. ^ Zacharia, Janine (2010-05-31). "Palestinian officials think about replacing Israeli shekel with Palestine pound". ISSN 0190-8286. Retrieved 2018-08-22.
  3. ^ Cobham, David (2004-09-15). "Alternative currency arrangements for a new Palestinian state". In David Cobham (ed.) (eds.). The Economics of Palestine: Economic Policy and Institutional Reform for a Viable Palestine State (PDF). London: Routledge. ISBN 9780415327619. Retrieved 2018-08-22.CS1 maint: Uses editors parameter (link)
  4. ^ Linzmayer, Owen (2012). "Jordan". The Banknote Book. San Francisco, CA: www.BanknoteNews.com.
  5. ^ "Archived copy". Archived from the original on 2005-03-11. Retrieved 2005-09-11.CS1 maint: Archived copy as title (link)
  6. ^ Exchange Rate Fluctuations, Programme Management Unit Archived 2004-07-19 at the Wayback Machine
  7. ^ Tables of modern monetary history: Asia Archived 2007-02-19 at the Wayback Machine
  8. ^ Report of the Working Party on the Accession of the Hashemite Kingdom of Jordan to the World Trade Organization Archived 2008-06-25 at the Wayback Machine

External linksEdit