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Jordanian dinar

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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. Fils are effectively obsolete; however, monetary amounts are still written to three decimal places representing fils. It is pegged to the US dollar.

Jordanian dinar
دينار أردني‎ (Arabic)
Fifth edition Jordanian bank notes and coins
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
Date of introduction1949
ReplacedPalestine pound
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 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

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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 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 Jordanian occupation of 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]

In 1988 and 1989, the dinar depreciated substantially due to mounting foreign debts in the kingdom. During that time, there were protests across the country.

Coins

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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     2000
5 piastres (qirsh) 26 mm 5 g Nickel-plated steel Milled     2000 50 fils 'Shilin'
10 piastres (qirsh) 28 mm 8 g     100 fils, 'Bareezah'
1⁄4 dinar 26.5 mm
Heptagonal		 7.4 g Brass Plain     2004 Rub'a1, 25 piastres, 250 fils
1⁄2 dinar 29 mm
Heptagonal		 9.6 g Ring: Aluminium bronze
Center: Cupronickel		 Plain     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

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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

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First Issue (1949–1952)[6]

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Obverse Reverse Value Dimensions Primary Color Obverse Reverse Printed Date
 
 
 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)

 
 
 1 dinar 160 x 86 mm[8] Green The late His Majesty King Abdullah Oval Plaza - Jerash[8]
 
 
 5 dinar 169 x 88 mm[9] Red View of Al-Khazneh[9]
 
 
 10 dinar 185 x 97 mm[10] Blue
 
 
 50 dinar 190 x 100 mm[11] Brown View from Aqaba[11]

Second Issue (1952–1965)[12]

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Obverse Reverse Value Dimensions Primary Color Obverse Reverse Printed Date
 
 
 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)

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

Issues by the Central Bank of Jordan

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First Issue (1965–1975)[17]

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Obverse Reverse Value Dimensions Primary Color Obverse Reverse Issue Date
 
 
 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]

 
 
 1 dinar 150 x 75 mm[18] Green Dome of the Rock[18] August 4, 1965[18]
 
 
 5 dinar 164 x 82 mm[19] Red View of Al-Khazneh[19] August 4, 1965[19]
 
 
 10 dinar 175 x 88 mm[20] Blue Al-Maghtas[20] August 4, 1965[20]

Second Issue (1975–1992)[21]

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Obverse/Reverse Value Dimensions Primary Color Obverse Reverse Issue Date
 
 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]
 
 1 dinar 144 × 71.5 mm[23] Green Dome of the Rock[23] November 16, 1975[23]
 
 5 dinar 152 × 76 mm[24] Red View of Petra[24] November 16, 1975[24]
 
 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]
 
 
 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]

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

Fourth Issue (2002–2022)[28]

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Obverse Reverse Value Dimensions Main Color Obverse Reverse Printed Date Issued Date Watermark
    1 dinar 133 × 74 mm[34] Green 2002
Hijri 1423		 March 30, 2003[34] Sharif Hussein bin Ali
    5 dinars 137 × 74 mm[35] Orange
  • 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 dinars 141 × 74 mm[36] Blue
  • 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 dinars 145 × 74 mm[37] Cyan February 2, 2003[37][38] Hussein bin Talal
    50 dinars 149 × 74 mm[38] Brown and Purple Abdullah II bin al-Hussein

Fifth Issue (2022–present)[39]

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Obverse Reverse Value Dimensions Main Color Obverse Reverse Printed Date Issued Date Watermark
    1 dinar 133 × 74 mm[4] Green 2022
Hijri 1443 		26 December 2022 Sharif Hussein bin Ali
    5 dinars 137 × 74 mm Orange Treasury, Petra 16 August 2023 Abdullah I bin al-Hussein
    10 dinars 141 × 74 mm Blue Roman Theater in Amman 26 July 2023 Talal bin Abdullah
    20 dinars 145 × 74 mm Cyan Wadi Mujib 21 March 2023 Hussein bin Talal
    50 dinars 149 × 74 mm Purple Wadi Rum 5 February 2023 Abdullah bin al-Hussein II

Fixed exchange rate

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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.[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]

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

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

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References

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  1. ^ "Exchange rates of major foreign currencies announced by CBJ". Retrieved 14 June 2016.[permanent dead link‍]
  2. ^ a b Zacharia, Janine (2010-05-31). "Palestinian officials think about replacing Israeli shekel with Palestine pound". The Washington Post. 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. ^ a b c "Banknotes - the Central Bank of Jordan". www.cbj.gov.jo. Retrieved 2023-08-08.
  5. ^ Linzmayer, Owen (2012). "Jordan". The Banknote Book. San Francisco, CA: www.BanknoteNews.com.
  6. ^ "CBJ -". 2007-10-26. Archived from the original on 2007-10-26. Retrieved 2023-08-08.
  7. ^ a b c "CBJ -". 2006-10-23. Archived from the original on 2006-10-23. Retrieved 2023-08-08.
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  26. ^ a b "CBJ -". 2007-10-23. Archived from the original on 2007-10-23. Retrieved 2023-08-08.
  27. ^ "الصفحة الرئيسية - البنك المركزي الاردني". www.cbj.gov.jo. Retrieved 2023-08-08.
  28. ^ a b "Central Bank of Jordan - Museum". Archived from the original on 2005-03-11. Retrieved 2005-09-11.
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  34. ^ a b c d "CBJ -". 2007-10-23. Archived from the original on 2007-10-23. Retrieved 2023-08-08.
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  38. ^ a b c d "CBJ -". 2007-10-26. Archived from the original on 2007-10-26. Retrieved 2023-08-08.
  39. ^ "فئات أوراق النقد الأردني/الإصدار الخامس - البنك المركزي الاردني". www.cbj.gov.jo. Retrieved 2023-03-21.
  40. ^ Exchange Rate Fluctuations, Programme Management Unit Archived 2004-07-19 at the Wayback Machine
  41. ^ Tables of modern monetary history: Asia Archived 2007-02-19 at the Wayback Machine
  42. ^ 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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