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Fijian dollar

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The Fijian dollar (currency sign: FJ$, $; currency code: FJD) has been the currency of Fiji since 1969 and was also the currency between 1867 and 1873. It is normally abbreviated with the dollar sign $, or alternatively FJ$ to distinguish it from other dollar-denominated currencies. It is divided into 100 cents.

Fijian dollar
Dola ni Viti (Fijian)
फिजियन डॉलर (Fiji Hindi)
A current FJ$5 note
ISO 4217
CodeFJD (numeric: 242)
Subunit0.01
Unit
SymbolFJ$ or FJD‎
Denominations
Subunit
 1⁄100cent
Symbol
 centc
Banknotes
 Freq. used$5, $10, $20, $50, $100
 Rarely used88c , 100c, $7, $2000
Coins5c, 10c, 20c, 50c, $1, $2
Demographics
User(s) Fiji
Issuance
Central bankReserve Bank of Fiji
 Websitewww.rbf.gov.fj
Valuation
Inflation2.5%
 SourceReserve Bank of Fiji, Sep 2023 est.

History

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Decimalisation origins

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Fiji followed the pattern of South Africa, Australia, and New Zealand in that when it adopted the decimal system, it decided to use the half pound unit as opposed to the pound unit of account. The choice of the name dollar was motivated by the fact that the reduced value of the new unit corresponded more closely to the value of the US dollar than it did to the pound sterling.

Second dollar (1969–present)

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The dollar was reintroduced on 15 January 1969, replacing the Fijian pound at a rate of 1 pound = 2 dollars, or 10 shillings = FJ$1. Despite Fiji having been a republic since 1987, coins and banknotes continued to feature Queen Elizabeth II until 2013, when her portrait was replaced with pictures of plants and animals.[1]

Coinage

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Main article: Coins of the Fijian dollar

 

In 1969, coins were introduced in denominations of 1c, 2c, 5c, 10c & 20c, with a 50c coin issued in 1975. The coins had the same sizes and compositions as the corresponding Australian coins, with the 50 cents matching the cupronickel dodecagonal type introduced in Australia in 1969. In 1990, new compositions were introduced, with copper-plated zinc used for the 1¢ and 2¢ coins, and nickel-plated steel for the 5c, 10c, 20c & 50c. An aluminium-bronze $1 coin was introduced in 1995, replacing the $1 note. 2009 saw the introduction of a new smaller coinage from 5 to 50 cents.[citation needed] These were struck by the Royal Canadian Mint and are made with the three-ply electroplate method. The 1 and 2 cents were also discontinued and withdrawn the same year. A thinner brass plated steel $1 coin was later introduced in 2010, gradually phasing out the older type.

In 2013 Fiji released a whole family of new coins, with fauna themes, and without the Queen's portrait.[citation needed] This new series saw the introduction of a $2 coin, replacing the corresponding note just as the $1 coin had done before. This coin faced controversy due to being too easily mistaken as a $1, as it was only slightly larger of the same colour. It was replaced by a larger and thicker Spanish flower shaped $2 coin in 2014.[2] The metallic content of both the $1 and $2 was also changed in 2014 for better durability and resistance to wear after widespread complaints of the coins corroding and "turning black".

Value Composition 2012 series
Obverse Reverse
5c three ply nickel-clad steel Nuqa-roro (Foxface Rabbitfish) Lali (drum)
10c Beka-Mirimiri (Fiji Flying Fox) I ulã tavatava (throwing club)
20c Kakã (Kadavu Shining Parrot) Tabua (whale's tooth)
50c Varivoce (Humphead Wrasse) Camakau (traditional outrigger canoe)
$1 three ply nickel-clad brass Vokai (Banded Iguana) Saqãmoli (drinking vessel)
$2 Ga ni Vatu (Peregrine Falcon) Tanoa (kava bowl)

Banknotes

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First dollar

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Series 1872 Treasury Note for 10 dollars payable at Levuka

In 1867, the government treasury issued 1 dollar notes. These were followed by notes for $1, $5, $10, $25 and $50 issued between 1871 and 1873. Also between 1871 and 1873, King Seru Epenisa Cakobau issued notes in denominations of 12+1⁄2¢, 25¢, 50¢, 100¢ and $5. Levuka (on Ovalau island) issued $1 and $5 notes during the 1870s.

Second dollar

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Commemorative two-dollar banknote for 2000

On 15 January 1969, the government introduced notes in denominations of 50 cents, $1, $2, $10, and $20; the $5 note was not issued until 1970.[3] The Central Monetary Authority took over the issuance of paper money in 1974, issuing the same denominations, although the 50c note was replaced by a coin on 3 March 1975. In 1986, the Reserve Bank of Fiji began issuing notes. The $1 note was replaced by a coin in 1995. The $50 note was introduced in 1996, followed by a $100 note on 10 April 2007. Banknote denominations in circulation as of 2017 are: $5, $10, $20, $50 and $100.[4]

2007 Series

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2007 Series[5]
Image Value Dimensions Main colour Description Date of issue Date of first issue Watermark
Obverse Reverse
[6] $2 131 × 67 mm Green Mohar (sovereign locket); domodomo (canoe masthead) as registration device; Queen Elizabeth II; Fijian coat of arms Children, National Stadium in Suva, Korobas mountains 2007 10 April 2007 Fijian head and electrotype 2
[7] $5 136 × 67 mm Brown Katoni Masima; domodomo (canoe masthead) as registration device; Queen Elizabeth II; Fijian coat of arms Mount Valili, Fiji Crested Iguana, Balaka palm, Masiratu flower 2007 10 April 2007 Fijian head and electrotype 5
[8] $10 141 × 67 mm Purple i Buburau ni Bete; domodomo (canoe masthead) as registration device; Queen Elizabeth II; Fijian coat of arms Joske's Thumb; Grand Pacific Hotel 2007 10 April 2007 Fijian head and electrotype 10
    $20 146 × 67 mm Blue Foa; domodomo (canoe masthead) as registration device; Queen Elizabeth II; Fijian coat of arms Fish processing; cutting lumber; mining; train; Mount Uluinabukelevu 2007[9] 10 April 2007 Fijian head and electrotype 20
    $50 151 × 67 mm Red Wasekaseka; domodomo (canoe masthead) as registration device; Queen Elizabeth II; Fijian coat of arms Ceremonial presentation of Tabua and Yaqona 2007[10] 10 April 2007 Fijian head and electrotype 50
  $100 156 × 67 mm Yellow Buli Kula; domodomo (canoe masthead) as registration device; Queen Elizabeth II; Fijian coat of arms. Map of Fiji; Tourism 2007 10 April 2007 Fijian head and electrotype 100

2012 Series

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2012 Series[11]
Image Value Dimensions Main colour Description Date of issue Date of first issue Watermark
Obverse Reverse

[12] 		$5 136 × 67 mm Green Katoni Masima; domodomo (canoe masthead) as registration device; Parrot; Fijian coat of arms Mount Valili, Fiji Crested Iguana, Balaka palm, Masiratu flower 2012 2 January 2013 Fijian head and electrotype 5

[13] 		$10 141 × 67 mm Purple i Buburau ni Bete; domodomo (canoe masthead) as registration device; Beli fish; Fijian coat of arms Joske's Thumb; Grand Pacific Hotel 2012 2 January 2013 Fijian head and electrotype 10

[14] 		$20 146 × 67 mm Blue Foa; domodomo (canoe masthead) as registration device; MacGillivray's petrel; Fijian coat of arms Fish processing; cutting lumber; mining; train; Mount Uluinabukelevu 2012 2 January 2013 Fijian head and electrotype 20

[15] 		$50 151 × 67 mm Red Wasekaseka; domodomo (canoe masthead) as registration device; Tagimoucia flower; Fijian coat of arms Ceremonial presentation of Tabua and Yaqona 2012 2 January 2013 Fijian head and electrotype 50

[16] 		$100 156 × 67 mm Yellow Buli Kula; domodomo (canoe masthead) as registration device; Nanai (Fiji cicada); Fijian coat of arms. Map of Fiji; Tourism 2012 2 January 2013 Fijian head and electrotype 100

Commemorative banknotes

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  • 2000 2 Dollars – Millennium
  • 2000 2,000 Dollars – Millennium
  • 2017 7 Dollars – Victory of the Fijian rugby sevens team at the 2016 Summer Olympics in Rio de Janeiro.[17]
  • 2020 50 Dollars – Fiji's 50th Independence Anniversary.[18][19][20]
  • 2022 7 Dollars - Fijian Rugby 7s. at the Olympic Games in Tokyo, Japan [1]
  • 2022 88 Cents - Chinese God of Wealth
  • 2023 100 Cents - Lunar New Year and the Year of the Dragon

Current status and value

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On 16 August 2005, Finance Minister Ratu Jone Kubuabola announced that the Cabinet had approved the introduction of a $100 banknote and the withdrawal of the 1 and 2 cent coin, as the minting cost exceeded its face value. Kubuabola said that the $100 banknote would measure 156 × 67 mm, with the other banknotes receding at 5 mm towards the lowest banknote denomination. The portrait of Queen Elizabeth II would remain on all banknotes, he added, obviously in answer to calls from some politicians to remove the Queen's portrait from the currency after 18 years as a republic. Fiji is, however, a member of the Commonwealth, and Queen Elizabeth is recognized as Paramount Chief of the Great Council of Chiefs of Fiji. Her portrait was updated to a more mature one, which was released in 2007, becoming the fourth portrait of the Queen to appear on Fijian currency.

In 2009, the demonetization of the 1 and 2 cent coins was made official and a new coin set of 5, 10, 20, and 50 cent coins with reduced size were introduced. The old coins based on the Australian size standard were withdrawn from circulation. The reformed coins were introduced to save on production costs. The new 50 cent piece is also round with reeded edges rather than twelve-sided. On 2 March 2011, it was announced that Fiji would drop Queen Elizabeth II from its coins and notes, instead opting for local flora and fauna.[21] The removal was seen as retaliation for Fiji's suspension from its full membership of the Commonwealth.[21] The new set, which was unveiled on 12 December 2012, was issued on 2 January 2013. The new series of Fijian coins include a bi-metallic (brass-plated steel) $2 coin intended to replace the note, and a thinner, reduced weight $1 coin. The new series of Fijian dollar banknotes feature Fijian flora and fauna to replace the portrait of Queen Elizabeth II. One change in the redesign of the Fijian dollar banknotes was the $5 note. Originally printed on paper, it is now issued as a polymer banknote.[22]

Polymer plastic-coated notes were introduced in 2007, featuring images of local people, culture, trade and industry. Their sizes vary among denominations

A new series of notes, the "Flora and Fauna" design series, was introduced in 2013, featuring endemic flora and fauna. The image of Queen Elizabeth II no longer features in the new banknote series. The $2 note, now coined, ceased to be legal tender on 31 March 2013 and the $5 note is now printed in green, a change from its previous tawny and brown colour scheme. The new $5 note, the first banknote from the "Flora and Fauna" design series, entered into circulation on 2 April 2013.[23][24][25]

Current FJD exchange rates
From Google Finance: AUD CAD CHF CNY EUR GBP HKD JPY USD SGD NZD EUR
From Yahoo! Finance: AUD CAD CHF CNY EUR GBP HKD JPY USD SGD NZD EUR
From XE.com: AUD CAD CHF CNY EUR GBP HKD JPY USD SGD NZD EUR
From OANDA: AUD CAD CHF CNY EUR GBP HKD JPY USD SGD NZD EUR

See also

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References

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  1. ^ "Fiji replaces currency images of Queen Elizabeth II with endemic plants, animals". The Australian. 12 December 2012. Retrieved 20 December 2012.
  2. ^ "New Fiji $2 coins in circulation next Monday | Fiji One". Archived from the original on 6 January 2015. Retrieved 1 December 2016.
  3. ^ Linzmayer, Owen (2012). "Fiji". The Banknote Book. San Francisco, CA: BanknoteNews.com.
  4. ^ Nachthund (2 May 2007). "Update – Fiji". Archived from the original on 27 September 2007. Retrieved 3 May 2007.
  5. ^ "BanknoteNews – Breaking news about world paper money. Powered by The Banknote Book". Banknotenews.com. Archived from the original on 6 August 2020. Retrieved 21 February 2022.
  6. ^ "109" – Fiji 2 Dollars from http://banknote.ws/
  7. ^ "110" – Fiji 5 Dollars from http://banknote.ws/
  8. ^ – "111" Fiji 10 Dollars from http://banknote.ws/
  9. ^ "112" – Fiji 20 Dollars from http://banknote.ws/
  10. ^ "113" – Fiji 50 Dollars from http://banknote.ws/
  11. ^ "BanknoteNews – Breaking news about world paper money. Powered by The Banknote Book". Banknotenews.com. Archived from the original on 16 December 2020. Retrieved 21 February 2022.
  12. ^ "110" – Fiji 5 Dollars Archived 7 July 2016 at the Wayback Machine from http://banknote.ws/
  13. ^ – "111" Fiji 10 Dollars Archived 7 July 2016 at the Wayback Machine from http://banknote.ws/
  14. ^ "112" – Fiji 20 Dollars Archived 7 June 2016 at the Wayback Machine from http://banknote.ws/
  15. ^ "113" – Fiji 50 Dollars Archived 7 June 2016 at the Wayback Machine from http://banknote.ws/
  16. ^ "114" – Fiji 50 Dollars Archived 7 July 2016 at the Wayback Machine from http://banknote.ws/
  17. ^ Aualiitia, Tahlea (24 July 2021). "Why fans of Fiji's rugby sevens team are clutching this rare banknote during the Olympics". ABC News.
  18. ^ "Commemorative Currency Launch To Mark Fiji 50". Fijisun.com.fj. Retrieved 24 October 2020.
  19. ^ "Special Fiji 50 coins and banknotes unveiled". Fijivillage.com. Retrieved 24 October 2020.
  20. ^ "Fiji launches commemorative banknotes; issued into circulation tomorrow". Fijitimes.com. 7 October 2020. Retrieved 24 October 2020.
  21. ^ a b "Fiji to dump British queen from currency – Offbeat – Emirates24|7". Emirates247.com. 2 March 2011.
  22. ^ Fiji new 2012 flora and fauna series confirmed Archived 17 August 2013 at the Wayback Machine, BanknoteNews.com. 30 January 2013. Retrieved on 2013-02-04.
  23. ^ "Ministry of Foreign Affairs, Malaysia - FIji's NEW FLORA AND FAUNA DESIGN BANKNOTES AND COINS - Home". www.kln.gov.my. Archived from the original on 21 February 2014. Retrieved 20 July 2022.
  24. ^ Barrowclough, Anne. "Fiji currency replaces monarchy with animal kingdom". The Times.
  25. ^ "Fiji Issues First Polymer Banknote". Securamonde.com. 3 April 2013.
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