Jordanian dinar

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

Jordanian dinar
دينار أردني (Arabic)
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.

History

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]

After the West Bank was annexed by Jordan in 1950, the Jordanian dinar became legal tender there and replaced the Palestine pound.

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.

Coins

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
ValueDiameterWeightCompositionEdgeObverseReverseFirst Minted YearCommon Reference
12 qirsh (piastre)21 mm4 gCopper-plated steelPlainHussein bin Talal facing leftLattice design, Eastern Arabic numerals 121996
1 qirsh (piastre)25 mm5.5 gBronze-plated steelLattice design; Eastern Arabic numerals 11994
2 12 piastres (qirsh)22 mm3 gNickel-plated steelMilledHussein bin Talal facing leftLattice design, Eastern Arabic numerals 2 12199225 fils
5 piastres (qirsh)26 mm5 gLattice design, Eastern Arabic numerals 550 fils
10 piastres (qirsh)28 mm8 gLattice design, Eastern Arabic numerals 10100 fils
14 dinar26.5 mm
Heptagonal
7.4 gBrassPlainHussein bin Talal facing leftLeaf design, Eastern Arabic numerals 141996Rub'a1, 25 piastres, 250 fils
12 dinar29 mm
Heptagonal
Leaf design, Eastern Arabic numerals 12Nusf2, 50 piastres, 500 fils
12 dinar29 mm
Heptagonal
9.6 gRing: Aluminium bronze
Center: Cupronickel
PlainHussein bin Talal facing leftLeaf design, Eastern Arabic numerals 121997
1 dinar32 mm
Heptagonal
BrassPlainHussein bin Talal facing leftLeaf design, Eastern Arabic numerals 11996
1 dinar24 mmMilled1998
Sixth Series Coins
ValueDiameterWeightCompositionEdgeObverseReverseFirst Minted YearCommon Reference
1 qirsh (piastre)25 mm5.5 gCopper-plated steelPlainAbdullah II facing rightLattice design; Eastern Arabic numerals 12000
5 piastres (qirsh)26 mm5 gNickel-plated steelMilledAbdullah II facing rightLattice design, Eastern Arabic numerals 5200050 fils
10 piastres (qirsh)28 mm8 gLattice design, Eastern Arabic numerals 10100 fils
14 dinar26.5 mm
Heptagonal
7.4 gBrassPlainAbdullah II facing rightLeaf design, Eastern Arabic numerals 142004Rub'a1, 25 piastres, 250 fils
12 dinar29 mm
Heptagonal
9.6 gRing: Aluminium bronze
Center: Cupronickel
PlainAbdullah II facing rightLeaf design, Eastern Arabic numerals 122000Nusf2, 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".

Banknotes

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]
ObverseReverseValueDimensionsMain ColorObverseReversePrinted DateIssued DateWatermark
1 dinar133 × 74 mmLime and greenHussein bin AliGreat Arab Revolt2002
Hijri 1423
March 30, 2003Sharif Hussein bin Ali
5 dinars137 × 74 mmBrick orangeAbdullah bin al-Hussein IMa’an PalaceDecember 22, 2002Abdullah I bin al-Hussein
10 dinars141 × 74 mmBlueTalal bin AbdullahFirst Jordanian Parliament BuildingTalal bin Abdullah
20 dinars145 × 74 mmCyanHussein bin TalalDome of the RockFebruary 2, 2003Hussein bin Talal
50 dinars149 × 74 mmPink and brownAbdullah bin al-Hussein IIRaghadan PalaceAbdullah II bin al-Hussein

Fixed exchange rate

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

See also

References

  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
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