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Jordanian dinar

Jordanian dinar
دينار أردني (Arabic)
ISO 4217 code JOD
Central bank Central Bank of Jordan
 Website .jo.gov.cbjwww
Official user(s)  Jordan
Unofficial user(s)  West Bank (Palestinian territories), alongside Israeli new sheqel
Inflation 1.7%
 Source The World Factbook, 2009 est.
Pegged with U.S. dollar = 0.709 dinar
Subunit
 1/10 dirham
 1/100 qirsh or piastre
 1/1000 fils
Coins ½, 1 qirsh, 2½, 5, 10 piastres, ¼, ½, 1 dinar
Banknotes 1, 5, 10, 20, 50 dinars

The dinar (Arabic: دينار, ISO 4217 code JOD; unofficially known as JD) is the currency of Jordan. The dinar is divided into 10 dirham, 100 qirsh (also called piastres) or 1000 fulus.

The Jordanian dinar continued to be used in the West Bank along with Israeli currency after Israel took control of it in 1967. During Israel's hyperinflation in the 1970s and 1980s, the Jordanian currency provided stability.

Contents

  • History 1
  • Coins 2
  • Banknotes 3
  • Fixed exchange rate 4
  • See also 5
  • References 6
  • External links 7

History

From 1927 to 1950, the Palestine Currency Board issued the Palestine pound as the official currency in both Palestine and the Trans-Jordan Emirate. 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 name of The Hashemite Kingdom of the Jordan.[1]

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 denominations and the English denominations are given in dinar and either qirsh or piastres.

For a wider history surrounding currency in the region, see British currency in the Middle East.

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 ¼ dinar coins in 1970. The 1 fils coin was last minted in 1985. In 1996, smaller ¼ dinar coins were introduced alongside ½ and 1 dinar coins.

Fifth Series Coins
Value Diameter Weight Composition Edge Obverse Reverse First Minted Year Common Reference
½ qirsh (piastre) 21 mm 4 g Copper plated steel Plain Hussein bin Talal facing left Lattice design, Eastern Arabic numerals ½ 1996
1 qirsh (piastre) 25 mm 5.5 g Bronze plated steel Lattice design; Eastern Arabic numerals 1 1994
2½ piastres (qirsh) 22 mm 3 g Nickel plated steel Milled Hussein bin Talal facing left Lattice design, Eastern Arabic numerals 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
¼ dinar 26.5 mm
Heptagonal
7.4 g Brass Plain Hussein bin Talal facing left Leaf design, Eastern Arabic numerals ¼ 1996 Rubia1, 25 piastres, 250 fils
½ dinar 29 mm
Heptagonal
Leaf design, Eastern Arabic numerals ½ Nuus2, 50 piastres, 500 fils
½ dinar 29 mm
Heptagonal
9.6 g Ring: Aluminium bronze
Center: Cupronickel
Plain Hussein bin Talal facing left Leaf design, Eastern Arabic numerals ½ 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
¼ dinar 26.5 mm
Heptagonal
7.4 g Brass Plain Abdullah II facing right Leaf design, Eastern Arabic numerals ¼ 2004 Rubia1, 25 piastres, 250 fils
½ dinar 29 mm
Heptagonal
9.6 g Ring: Aluminium bronze
Center: Cupronickel
Plain Abdullah II facing right Leaf design, Eastern Arabic numerals ½ 2000 Nuus2, 50 piastres, 500 fils
  1. rubia is Arabic for "piece of four" or "quarter"
  2. nuus is Arabic for "piece of two" or "half"

Banknotes

In 1949, banknotes were issued by the government in denominations of 500 fils, 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. ½ dinar notes were replaced by coins in 1999.

The Fourth Series of the Central Bank of Jordan[2]
Obverse Reverse Value Dimensions Main Color Obverse Reverse Printed Date Issued Date Watermark
1 dinar 133 × 74 mm Lime and green Sharif Hussein bin Ali Great Arab Revolt 2002
Hijri 1423
March 30, 2003 Sharif Hussein bin Ali
5 dinars 137 × 74 mm Brick orange Abdullah I 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 King Abdullah II bin al-Hussein Raghadan Palace Abdullah 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.[3][4] The Central Bank buys U.S. dollars at 0.708 dinar, and sell U.S. dollars at 0.710 dinar.[5]

See also

References

  1. ^ Linzmayer, Owen (2012). "Jordan". The Banknote Book. San Francisco, CA: www.BanknoteNews.com. 
  2. ^ http://www.cbj.gov.jo/pages.php?local_type=26&category=7&subcategory=29
  3. ^ Exchange Rate Fluctuations, Programme Management Unit
  4. ^ Tables of modern monetary history: Asia
  5. ^ Report of the Working Party on the Accession of the Hashemite Kingdom of Jordan to the World Trade Organization

External links

  • Coins of the Hashemite Kingdom of Jordan
  • Banknotes of the Hashemite Kingdom of Jordan
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