Finance:Jordanian dinar

From HandWiki
Short description: Currency of Jordan
Jordanian dinar
دينار أردني / JOD (Arabic)
1 One Dinar Front (2022).png
Obverse of 1 Jordanian Dinar (5th Edition-2022)
ISO 4217
CodeJOD (numeric: 400)
Subunit0.001
Unit
Symbolد.أ‎
Denominations
Subunit
 ​1⁄10dirham
 ​1⁄100qirsh or piastre
 ​1⁄1000fils
Banknotes1, 5, 10, 20, 50 dinars
Coins1, 5, 10 piastres/qirsh, ​1⁄4, ​1⁄2 dinar
Demographics
Official user(s) Jordan
Unofficial user(s) West Bank
Issuance
Central bankCentral Bank of Jordan
 Websitewww.cbj.gov.jo
Valuation
Inflation1.35%
 SourceThe World Factbook, 2021 est.
Pegged withUS dollar[1]
US$ = JOD 0.708 (buy)
US$ = JOD 0.71 (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 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

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 a while. 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 Jordanian One Piaster Coin Obverse.jpg The reverse View of the 1 Qirsh JOD.jpg 2000 5 piastres (qirsh) 26 mm 5 g Nickel-plated steel Milled The Reverse View of the 5 Piaster JOD.jpg The Obverse View of the 5 Qirsh JOD.jpg 2000 50 fils 'Shilin' 10 piastres (qirsh) 28 mm 8 g The Obverse View of the 10 Qirsh JOD.jpg The Reverse View of the 10 Piaster JOD Coin.jpg 100 fils, 'Bareezah' ​1⁄4 dinar 26.5 mm
Heptagonal		 7.4 g Brass Plain The Obverse View of the 25 Qirsh 0.25 JOD.jpg The Obverse View of the 25 Qirsh JOD.jpg 2004 Rub'a1, 25 piastres, 250 fils ​1⁄2 dinar 29 mm
Heptagonal		 9.6 g Ring: Aluminium bronze
Center: Cupronickel		 Plain The Reverse View of the 50 Qirsh JOD.jpg The Obverse View of the 50 Qirsh JOD.jpg 2000 {{Coin-yellow-color} p>, 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

The Central Bank of Jordan is the sole authority to issue Jordanian banknotes since its establishment in 1964. It released into circulation its first series of Jordanian notes on August 4, 1965. From 1949 to 1965, currency issue was entrusted in the Jordan Currency Board. Before 1949, the Palestinian pound was used.[4]

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".[5] 20 dinar notes were introduced in 1977. The 50 dinar note was redesigned and the ​1⁄2 dinar notes were replaced by coins in 1999.

Issues by the Jordan Currency Board

First Issue (1949 - 1952)[6]

Obverse Reverse Value Dimensions Primary Color Obverse Reverse Printed Date
FIVE HUNDRED FILS JD 1949-obverse.jpg
FIVE HUNDRED FILS JD 1949-back.jpg
500 fils 128 x 76 mm[7] Dark Purple Wadi Al Arab Irrigation Project[7] View of shepherd with his flock[7] 1949 (Gregorian)

1368 (Hijri)

ONE JD 1949-obverse.jpg
ONE JD 1949-back.jpg
1 dinar 160 x 86 mm[8] Green The late His Majesty King Abdullah Oval Plaza - Jerash[8]
FIVE JD 1949-obverse.jpg
FIVE JD 1949-back.jpg
5 dinar 169 x 88 mm[9] Red View of Al-Khazneh[9]
TEN JD 1949-obverse.jpg
TEN JD 1949-back.jpg
10 dinar 185 x 97 mm[10] Blue
50 DINAR JD 1949 OBVERSE.png
50 DINAR JD 1949 REVERSE.png
50 dinar 190 x 100 mm[11] Brown View from Aqaba[11]

Second Issue (1952 - 1965)[12]

Obverse Reverse Value Dimensions Primary Color Obverse Reverse Printed Date
FIVE HUNDRED FILS JD 1952-obverse.jpg
FIVE HUNDRED FILS JD 1952-back.jpg
500 fils 128 x 76 mm[13] Dark Purple Wadi Al Arab Irrigation Project[13] View of shepherd with his flock[13] 1952 (Gregorian)

1371 (Hijri)

ONE JD 1952-obverse.jpg
ONE JD 1952-back.jpg
1 Dinar 160 x 86 mm[14] Green His Majesty the late King Hussein bin Talal Oval Plaza - Jerash[14]
FIVE JD 1952-obverse.jpg
FIVE JD 1952-back.jpg
5 Dinar 169 x 88 mm[15] Red View of Al-Khazneh
TEN JD 1952-obverse.jpg
TEN JD 1952-back.jpg
10 Dinar 185 x 97 mm[16] Blue

Issues by the Central Bank of Jordan

First Issue (1965 - 1975)[17]

Obverse Reverse Value Dimensions Primary Color Obverse Reverse Issue Date
Half JD 1959-obverse.jpg
Half JD 1959-back.jpg
​1⁄2 dinar 140 x 70 mm[18] Dark Orange His Majesty the late King Hussein bin Talal Oval Forum - Jerash[18] August 4,

1965[18]

ONE JD 1959-obverse.jpg
ONE JD 1959-back.jpg
1 dinar 150 x 75 mm[18] Green Dome of the Rock[18] August 4, 1965[18]
FIVE JD 1959-obverse.jpg
FIVE JD 1959-back.jpg
5 dinar 164 x 82 mm[19] Red View of Al-Khazneh[19] August 4, 1965[19]
TEN JD 1959-obverse.jpg
TEN JD 1959-back.jpg
10 dinar 175 x 88 mm[20] Blue Al-Maghtas[20] August 4, 1965[20]

Second Issue (1975 - 1992)[21]

Obverse/Reverse Value Dimensions Primary Color Obverse Reverse Issue Date
HALF JD DINAR 1975.jpg
​1⁄2 dinar 136 × 67.5 mm[22] Brown His Majesty the late King Hussein bin Talal Oval Forum - Jerash[22] November 16, 1975[22]
ONE JD DINAR 1975.jpg
1 dinar 144 × 71.5 mm[23] Green Dome of the Rock[23] November 16, 1975[23]
FIVE JD DINAR 1975.jpg
5 dinar 152 × 76 mm[24] Red View of Petra[24] November 16, 1975[24]
TEN JD DINAR 1975.jpg
10 dinar 160 × 80 mm[25] Dark Purple The Cultural Palace at Al-Hussein Youth Sports City Roman Amphitheater (Amman)[25]

Three Roman columns in Jerash

November 16, 1975[25]
TWENTY JD DINAR BROWN 1975.jpg
TWENTY JD DINAR BLUE 1975.jpg
20 dinar 168 × 84 mm Olive Green/Blue[26] View of the Al-Hussein Thermal Power Station in Zarqa

Olive grove[27]

June 3, 1978 (Olive Green)[4]

August 25, 1990 (Blue)[26]

Third Issue (1992 - 2002)[28]

Obverse/Reverse Value Dimensions Primary Color Obverse Reverse Issue Date
HALF JD 1992.jpg
​1⁄2 dinar 131 × 62 mm[29] Brown Hussein bin Talal Qusayr 'Amra[29] August 1, 1992[29][30]
ONE JD 1992.jpg
1 dinar 137 × 66 mm[30] Green The Cardo in Jerash[30]
FIVE JD 1992.jpg
5 dinar 143 × 70 mm[31] Red Al-Khazneh[31] October 1, 1992[31][32]
TEN JD 1992.jpg
10 dinar 149 × 74 mm[32] Blue Ajloun Castle[32]
TWENTY JD 1992.jpg
20 dinar 155 × 78 mm[33] Olive green and gray Dome of the Rock[33] August 1, 1992[33]

Fourth Issue (2002 - 2022)[28]

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[34] Green
  • Hussein bin Ali
  • A silver Hashemite coin minted in the Kingdom of Hejaz[34]
  • Flag of the Great Arab Revolt
  • Supreme Order of the Renaissance in the center
  • Antique compass in the top right[34]
 2002
Hijri 1423		 March 30, 2003[34] Sharif Hussein bin Ali
5 JOD Obverse1.jpg 5 JOD Reverse1.jpg 5 dinars 137 × 74 mm[35] Brick orange
  • Abdullah bin al-Hussein I
  • Official Seal of Abdullah bin Al-Hussein I in the bottom right[35]
  • Ma’an Palace
  • Umayyad coin minted in Jordan bearing the phrase "There is no god but Allah alone" on the left side[35]
 December 22, 2002[35][36] Abdullah I bin al-Hussein
10 JOD Obverse1.jpg 10 JOD Reverse1.jpg 10 dinars 141 × 74 mm[36] Blue
  • Talal bin Abdullah
  • Umm Qais Museum
  • Commemorative stamp issued for the establishment of the first Jordanian parliament, at the bottom right[36]
  • First Jordanian Parliament Building
  • Picture of Wadi Rum on the right side
  • Decorative motif from the Al Qastal area dating back to the Umayyad period on the left side[36]
 Talal bin Abdullah
20 JOD Obverse.jpg 20 JOD Reverse.jpg 20 dinars 145 × 74 mm[37] Brown and Olive Green
  • Hussein bin Talal
  • King Abdullah I Mosque[37]
  • Dome of the Rock[37]
 February 2, 2003[37][38] Hussein bin Talal
50 JOD Obverse.jpg 50 JOD Reverse.jpg 50 dinars 149 × 74 mm[38] Brown and Purple
  • Abdullah bin al-Hussein II[38]
  • Raghadan Palace
  • Marble carvings from Al-Aqsa Mosque.
  • Black Iris Flower - the national flower of the Hashemite Kingdom of Jordan.[38]
 Abdullah II bin al-Hussein

Fifth Issue (2022 - Present)[39]

Obverse Reverse Value Dimensions Main Color Obverse Reverse Printed Date Issued Date Watermark
1 One Dinar Front (2022).png 1 One Dinar Back(2022).png 1 dinar 133 × 74 mm[4] Green
  • Hussein bin Ali
  • Acanthus syriacus
 2022
Hijri 1443 		26 December 2022 Sharif Hussein bin Ali
5 Five Dinars Front (2022).png 5 Five Dinars Back (2022).png 5 dinars 137 × 74 mm Orange
  • Abdullah bin al-Hussein I
  • Petra
 Treasury, Petra 16 August 2023 Abdullah I bin al-Hussein
10 Ten Dinars Front (2022).png 10 Ten Dinars Back (2022).png 10 dinars 141 × 74 mm Blue
  • Talal bin Abdullah
  • Qusayr 'Amra
 Roman Theater in Amman 26 July 2023 Talal bin Abdullah
20 Twenty Dinars Front (2022).png 20 Twenty Dinars Back (2022).png 20 dinars 145 × 74 mm Cyan
  • Hussein bin Talal
  • King Hussein Mosque
 Wadi Mujib 21 March 2023 Hussein bin Talal
50 Fifty Dinars Front (2022).png 50 Fifty Dinars Back (2022).png 50 dinars 149 × 74 mm Purple Wadi Rum 5 February 2023 Abdullah bin al-Hussein II

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 United States dollar = 0.709 dinar most of the time, which is approximately 1 dinar = 1.41044 dollars.[40][41] The Central Bank buys U.S. dollars at 0.708 dinar per dollar, and sells U.S. dollars at 0.710 dinar per dollar.[42]


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

  • Economy of Jordan
  • Economy of the Palestinian territories

References

  1. ↑ "Exchange rates of major foreign currencies announced by CBJ". http://www.cbj.gov.jo/uploads/23.xls. [yes|permanent dead link|dead link}}]
  2. ↑ 2.0 2.1 Zacharia, Janine (2010-05-31). "Palestinian officials think about replacing Israeli shekel with Palestine pound". The Washington Post. ISSN 0190-8286. https://www.washingtonpost.com/wp-dyn/content/article/2010/05/29/AR2010052903131.html. 
  3. ↑ Cobham, David (2004-09-15). "Alternative currency arrangements for a new Palestinian state". in David Cobham. The Economics of Palestine: Economic Policy and Institutional Reform for a Viable Palestine State. London: Routledge. ISBN 9780415327619. http://fmwww.bc.edu/repec/mmfc04/13.pdf. Retrieved 2018-08-22. 
  4. ↑ 4.0 4.1 4.2 "Banknotes - the Central Bank of Jordan". https://www.cbj.gov.jo/Pages/viewpage.aspx?pageID=219. 
  5. ↑ Linzmayer, Owen (2012). "Jordan". The Banknote Book. San Francisco, CA: www.BanknoteNews.com. http://www.banknotebook.com. 
  6. ↑ "CBJ -". 2007-10-26. http://www.cbj.gov.jo/arabic/pages.php?local_type=26&category=7&subcategory=8. 
  7. ↑ 7.0 7.1 7.2 "CBJ -". 2006-10-23. http://www.cbj.gov.jo/arabic/template.php?local_type=26&gallery_id=39&local_details=1. 
  8. ↑ 8.0 8.1 "CBJ -". 2007-10-23. http://www.cbj.gov.jo/arabic/template.php?local_type=26&gallery_id=38&local_details=1. 
  9. ↑ 9.0 9.1 "CBJ -". 2006-10-23. http://www.cbj.gov.jo/arabic/template.php?local_type=26&gallery_id=37&local_details=1. 
  10. ↑ "CBJ -". 2007-10-23. http://www.cbj.gov.jo/arabic/template.php?local_type=26&gallery_id=36&local_details=1. 
  11. ↑ 11.0 11.1 "CBJ -". 2007-10-23. http://www.cbj.gov.jo/arabic/template.php?local_type=26&gallery_id=35&local_details=1. 
  12. ↑ "CBJ -". 2007-10-23. http://www.cbj.gov.jo/arabic/pages.php?local_type=26&category=7&subcategory=9. 
  13. ↑ 13.0 13.1 13.2 "CBJ -". 2007-10-23. http://www.cbj.gov.jo/arabic/template.php?local_type=26&gallery_id=43&local_details=1. 
  14. ↑ 14.0 14.1 "CBJ -". 2007-10-23. http://www.cbj.gov.jo/arabic/template.php?local_type=26&gallery_id=42&local_details=1. 
  15. ↑ "CBJ -". 2007-10-23. http://www.cbj.gov.jo/arabic/template.php?local_type=26&gallery_id=41&local_details=1. 
  16. ↑ "CBJ -". 2007-10-23. http://www.cbj.gov.jo/arabic/template.php?local_type=26&gallery_id=40&local_details=1. 
  17. ↑ "CBJ -". 2007-10-30. http://www.cbj.gov.jo/arabic/pages.php?local_type=26&category=7&subcategory=10. 
  18. ↑ 18.0 18.1 18.2 18.3 18.4 18.5 "CBJ -". 2007-10-30. http://www.cbj.gov.jo/arabic/template.php?local_type=26&gallery_id=46&local_details=1. 
  19. ↑ 19.0 19.1 19.2 "CBJ -". 2007-10-30. http://www.cbj.gov.jo/arabic/template.php?local_type=26&gallery_id=45&local_details=1. 
  20. ↑ 20.0 20.1 20.2 "CBJ -". 2007-10-30. http://www.cbj.gov.jo/arabic/template.php?local_type=26&gallery_id=44&local_details=1. 
  21. ↑ "CBJ -". 2007-10-23. http://www.cbj.gov.jo/arabic/pages.php?local_type=26&category=7&subcategory=11. 
  22. ↑ 22.0 22.1 22.2 "CBJ -". 2007-10-23. http://www.cbj.gov.jo/arabic/template.php?local_type=26&gallery_id=53&local_details=1. 
  23. ↑ 23.0 23.1 23.2 "CBJ -". 2007-10-23. http://www.cbj.gov.jo/arabic/template.php?local_type=26&gallery_id=52&local_details=1. 
  24. ↑ 24.0 24.1 24.2 "CBJ -". 2007-10-23. http://www.cbj.gov.jo/arabic/template.php?local_type=26&gallery_id=51&local_details=1. 
  25. ↑ 25.0 25.1 25.2 "CBJ -". 2007-10-23. http://www.cbj.gov.jo/arabic/template.php?local_type=26&gallery_id=50&local_details=1. 
  26. ↑ 26.0 26.1 "CBJ -". 2007-10-23. http://www.cbj.gov.jo/arabic/template.php?local_type=26&gallery_id=49&local_details=1. 
  27. ↑ "Error: no |title= specified when using {{Cite web}}". https://www.cbj.gov.jo/DetailsPage/CBJAR/BanknotesVersions.aspx. 
  28. ↑ 28.0 28.1 "Central Bank of Jordan - Museum". http://www.cbj.gov.jo/pages.php?local_type=26&category=7&subcategory=29. 
  29. ↑ 29.0 29.1 29.2 "CBJ -". 2007-10-26. http://www.cbj.gov.jo/arabic/template.php?local_type=26&gallery_id=58&local_details=1. 
  30. ↑ 30.0 30.1 30.2 "CBJ -". 2007-10-26. http://www.cbj.gov.jo/arabic/template.php?local_type=26&gallery_id=57&local_details=1. 
  31. ↑ 31.0 31.1 31.2 "CBJ -". 2007-10-26. http://www.cbj.gov.jo/arabic/template.php?local_type=26&gallery_id=56&local_details=1. 
  32. ↑ 32.0 32.1 32.2 "CBJ -". 2007-10-26. http://www.cbj.gov.jo/arabic/template.php?local_type=26&gallery_id=55&local_details=1. 
  33. ↑ 33.0 33.1 33.2 "CBJ -". 2007-10-30. http://www.cbj.gov.jo/arabic/template.php?local_type=26&gallery_id=54&local_details=1. 
  34. ↑ 34.0 34.1 34.2 34.3 "CBJ -". 2007-10-23. http://www.cbj.gov.jo/arabic/template.php?local_type=26&gallery_id=64&local_details=1. 
  35. ↑ 35.0 35.1 35.2 35.3 "CBJ -". 2007-10-23. http://www.cbj.gov.jo/arabic/template.php?local_type=26&gallery_id=63&local_details=1. 
  36. ↑ 36.0 36.1 36.2 36.3 "CBJ -". 2007-10-23. http://www.cbj.gov.jo/arabic/template.php?local_type=26&gallery_id=62&local_details=1. 
  37. ↑ 37.0 37.1 37.2 37.3 "CBJ -". 2007-10-23. http://www.cbj.gov.jo/arabic/template.php?local_type=26&gallery_id=61&local_details=1. 
  38. ↑ 38.0 38.1 38.2 38.3 "CBJ -". 2007-10-26. http://www.cbj.gov.jo/arabic/template.php?local_type=26&gallery_id=60&local_details=1. 
  39. ↑ "فئات أوراق النقد الأردني/الإصدار الخامس - البنك المركزي الاردني". https://www.cbj.gov.jo/DetailsPage/CBJAR/NewsDetails.aspx?ID=369. 
  40. ↑ Exchange Rate Fluctuations, Programme Management Unit
  41. ↑ Tables of modern monetary history: Asia
  42. ↑ Report of the Working Party on the Accession of the Hashemite Kingdom of Jordan to the World Trade Organization

External links



Retrieved from "https://handwiki.org/wiki/index.php?title=Finance:Jordanian_dinar&oldid=3420298"