Jordanian dinar

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Jordanian dinar
عشرة قروش أردنيه (Arabic)
10 Piaster Jordanien.png
Jordanian 10 piasters
ISO 4217
CodeJOD
Denominations
Subunit
 1⁄10dirham
 1⁄100qirsh or piastre
 1⁄1000fils
Symbolد.أ
Banknotes1, 5, 10, 20, 50 dinars
Coins½, 1, 2½, 5, 10 piastres/qirsh, ¼, ½, 1 dinar
Demographics
Official user(s) Jordan
Unofficial user(s) West Bank
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 (Arabic: دينار أردني‎; code: JOD; unofficially abbreviated as JD) has been the currency of Jordan since 1950. The dinar is divided into 10 dirhams, 100 qirsh (also called piastres) or 1000 fulus. It is pegged to the US dollar.

The Central Bank of Jordan commenced operations in 1964 and became the sole issuer of Jordanian currency, in place of the Jordan Currency Board.

The Jordanian dinar is also widely used in the West Bank alongside the Israeli shekel.[2][3]

History[]

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

In 1927, the British administration of the Palestinian Mandate established the Palestine Currency Board which issued the Palestine pound which was the official currency in both Mandatory Palestine and the Emirate of Transjordan. Though Jordan became an independent kingdom on 25 May 1946, it continued to use the Palestinian pound for awhile. In 1949, it passed the Provisional Act No. 35 of 1949, which established the Jordan Currency Board as the sole authority in the kingdom entitled to issue Jordanian currency, called the Jordanian dinar. The Board was based in London and consisted of a president and four members, and began issuing Jordanian dinars in 1949 and was exchangeable for Palestinian pounds at parity.

After Jordan annexed the West Bank in April 1950, the dinar replaced the Palestinian pound. On 1 July 1950, the Jordanian dinar became the kingdom’s official currency and legal tender. The use of the Palestine pound ceased in the country on 30 September 1950. The Central Bank of Jordan was established in 1959 and took over note production in 1964. In 1967, Jordan lost control of the West Bank, but the Jordanian dinar continued to be used there. It continues to be widely used in the West Bank alongside the Israeli shekel.[2]

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 1⁄4 dinar coins in 1970. The 1 fils coin was last minted in 1985. In 1996, smaller 1⁄4 dinar coins were introduced alongside 1⁄2 and 1 dinar coins.

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.

Value Diameter Weight Composition Edge Obverse Reverse First Minted Year Common Reference
1 qirsh 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 'Shilin'
10 piastres (qirsh) 28 mm 8 g Lattice design, Eastern Arabic numerals 10 100 fils, 'Bareezah'
1⁄4 dinar 26.5 mm
Heptagonal		 7.4 g Brass Plain Abdullah II facing right Leaf design, Eastern Arabic numerals 1⁄4 2004 Rub'a1, 25 piastres, 250 fils
1⁄2 dinar 29 mm
Heptagonal		 9.6 g Ring: Aluminium bronze
Center: Cupronickel		 Plain Abdullah II facing right Leaf design, Eastern Arabic numerals 1⁄2 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".

Banknotes[]

In 1949, banknotes were issued by the Jordan Currency Board in denominations of 1⁄2, 1, 5, 10 and 50 dinars. They bore the country's official name, "The Hashemite Kingdom of the Jordan".[4] 20 dinar notes were introduced in 1977, followed by 50 dinars in 1999. 1⁄2 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 JOD Obverse1.jpg 1 JOD Reverse1.jpg 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 JOD Obverse1.jpg 5 JOD Reverse1.jpg 5 dinars 137 × 74 mm Brick orange Abdullah bin al-Hussein I Ma’an Palace December 22, 2002 Abdullah I bin al-Hussein
10 JOD Obverse1.jpg 10 JOD Reverse1.jpg 10 dinars 141 × 74 mm Blue Talal bin Abdullah First Jordanian Parliament Building Talal bin Abdullah
20 JOD Obverse.jpg 20 JOD Reverse.jpg 20 dinars 145 × 74 mm Cyan Hussein bin Talal Dome of the Rock February 2, 2003 Hussein bin Talal
50 JOD Obverse.jpg 50 JOD Reverse.jpg 50 dinars 149 × 74 mm Pink and brown Abdullah bin al-Hussein II Raghadan Palace Abdullah II bin al-Hussein

Fixed exchange rate[]

Since October 23, 1995, the dinar has officially been pegged to the IMF's special drawing rights (SDRs), while in practice it was fixed at 1 U.S. dollar = 0.709 dinar most of the time, which is 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.com: 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

A sample exchange rate of Jordanian dinars to US dollars:

Year US Dollar =
1980 0.29 dinar
1985 0.39 dinar
1990 0.66 dinar
1995 0.70 dinar
2020 0.71 dinar

See also[]

References[]

  1. ^ "Exchange rates of major foreign currencies announced by CBJ". Retrieved 14 June 2016.[permanent dead link]
  2. ^ Jump up to: a b 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.). The Economics of Palestine: Economic Policy and Institutional Reform for a Viable Palestine State (PDF). London: Routledge. ISBN 9780415327619. Retrieved 2018-08-22.
  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 links[]

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