The Jordanian dinar ( ar, دينار أردني;
code
In communications and information processing, code is a system of rules to convert information—such as a letter, word, sound, image, or gesture—into another form, sometimes shortened or secret, for communication through a communication ...
: JOD; unofficially abbreviated as JD) has been the currency of
Jordan
Jordan ( ar, الأردن; tr. ' ), officially the Hashemite Kingdom of Jordan,; tr. ' is a country in Western Asia. It is situated at the crossroads of Asia, Africa, and Europe, within the Levant region, on the East Bank of the Jordan Rive ...
since 1950. The dinar is divided into 10
dirham
The dirham, dirhem or dirhm ( ar, درهم) is a silver unit of currency historically and currently used by several Arab and Arab influenced states. The term has also been used as a related unit of mass.
Unit of mass
The dirham was a un ...
s, 100
qirsh (also called
piastre
The piastre or piaster () is any of a number of units of currency. The term originates from the Italian for "thin metal plate". The name was applied to Spanish and Hispanic American pieces of eight, or pesos, by Venice, Venetian traders in the ...
s) or 1000
fulus. It is pegged to the US dollar.
The
Central Bank of Jordan
The Central Bank of Jordan ( ar, البنك المركزي الاردني) is the central bank of Jordan whose main duties include the release and distribution of the Jordanian currency and the maintenance of a national reserve of gold and foreign ...
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
The West Bank ( ar, الضفة الغربية, translit=aḍ-Ḍiffah al-Ġarbiyyah; he, הגדה המערבית, translit=HaGadah HaMaʽaravit, also referred to by some Israelis as ) is a landlocked territory near the coast of the Mediter ...
alongside the
Israeli shekel
The new Israeli shekel ( he, שֶׁקֶל חָדָשׁ '; ar, شيكل جديد ; sign: ₪; ISO code: ILS; abbreviation: NIS), also known as simply the Israeli shekel ( he, שקל ישראלי, ar, شيكل إسرائيلي), is the curre ...
.
History
In 1927, the British administration of the Palestinian Mandate established the Palestine Currency Board which issued the
Palestine pound
The Palestine pound ( ar, جُنَيْه فِلَسْطَينِيّ, ; he, פוּנְט פַּלֶשְׂתִינָאִי (א״י), funt palestina'i (eretz-yisra'eli) or he, לירה (א״י), lira eretz-yisra'elit, link=no; Sign: £P) was the ...
which was the official currency in both
Mandatory Palestine
Mandatory Palestine ( ar, فلسطين الانتدابية '; he, פָּלֶשְׂתִּינָה (א״י) ', where "E.Y." indicates ''’Eretz Yiśrā’ēl'', the Land of Israel) was a geopolitical entity established between 1920 and 1948 ...
and the
Emirate of Transjordan
The Emirate of Transjordan ( ar, إمارة شرق الأردن, Imārat Sharq al-Urdun, Emirate of East Jordan), officially known as the Amirate of Trans-Jordan, was a British protectorate established on 11 April 1921, . 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
Legal tender is a form of money that courts of law are required to recognize as satisfactory payment for any monetary debt. Each jurisdiction determines what is legal tender, but essentially it is anything which when offered ("tendered") in pa ...
. The use of the Palestine pound ceased in the country on 30 September 1950. The
Central Bank of Jordan
The Central Bank of Jordan ( ar, البنك المركزي الاردني) is the central bank of Jordan whose main duties include the release and distribution of the Jordanian currency and the maintenance of a national reserve of gold and foreign ...
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
The new Israeli shekel ( he, שֶׁקֶל חָדָשׁ '; ar, شيكل جديد ; sign: ₪; ISO code: ILS; abbreviation: NIS), also known as simply the Israeli shekel ( he, שקל ישראלי, ar, شيكل إسرائيلي), is the curre ...
.
[
]
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 dinar coins in 1970. The 1 fils coin was last minted in 1985. In 1996, smaller dinar coins were introduced alongside and 1 dinar coins.
Until 1992, coins were denominated in Arabic
Arabic (, ' ; , ' or ) is a Semitic languages, Semitic language spoken primarily across the Arab world.Semitic languages: an international handbook / edited by Stefan Weninger; in collaboration with Geoffrey Khan, Michael P. Streck, Janet C ...
using fils, qirsh, dirham and dinar but in English
English usually refers to:
* English language
* English people
English may also refer to:
Peoples, culture, and language
* ''English'', an adjective for something of, from, or related to England
** English national ide ...
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.
# ''rub'a'' is Arabic
Arabic (, ' ; , ' or ) is a Semitic languages, Semitic language spoken primarily across the Arab world.Semitic languages: an international handbook / edited by Stefan Weninger; in collaboration with Geoffrey Khan, Michael P. Streck, Janet C ...
for "piece of four" or "quarter".
# ''nusf'' is Arabic
Arabic (, ' ; , ' or ) is a Semitic languages, Semitic language spoken primarily across the Arab world.Semitic languages: an international handbook / edited by Stefan Weninger; in collaboration with Geoffrey Khan, Michael P. Streck, Janet C ...
for "piece of two" or "half".
Banknotes
In 1949, banknotes were issued by the Jordan Currency Board in denominations of , 1, 5, 10 and 50 dinars. They bore the country's official name, "The Hashemite Kingdom of the Jordan". 20 dinar notes were introduced in 1977, followed by 50 dinars in 1999. dinar notes were replaced by coins in 1999.
Fixed exchange rate
Since October 23, 1995, the dinar has officially been pegged to the IMF's special drawing rights
Special drawing rights (SDRs, code ) are supplementary foreign exchange reserve assets defined and maintained by the International Monetary Fund (IMF). SDRs are units of account for the IMF, and not a currency ''per se''. They represent a claim ...
(SDRs), while in practice it was fixed at 1 U.S. dollar
The United States dollar ( symbol: $; code: USD; also abbreviated US$ or U.S. Dollar, to distinguish it from other dollar-denominated currencies; referred to as the dollar, U.S. dollar, American dollar, or colloquially buck) is the officia ...
= 0.709 dinar most of the time, which is approximately 1 dinar = 1.41044 dollars. The Central Bank buys U.S. dollars at 0.708 dinar per dollar, and sells U.S. dollars at 0.710 dinar per dollar.Report of the Working Party on the Accession of the Hashemite Kingdom of Jordan to the World Trade Organization
A sample exchange rate of Jordanian dinars to US dollars:
See also
*
Economy of Jordan
The economy of Jordan is classified as an emerging market economy. Jordan's GDP per capita rose by 351% in the 1970s, declined 30% in the 1980s, and rose 36% in the 1990s. After King Abdullah II's accession to the throne in 1999, liberal econom ...
*
Economy of the Palestinian territories
The economy of the State of Palestine refers to the economic activity of the State of Palestine.
History
GDP per capita in the Palestinian territories rose by 7% per year from 1968 to 1980 but slowed during the 1980s. Between 1970 and 1991 l ...
References
External links
Coins of the Hashemite Kingdom of JordanBanknotes of the Hashemite Kingdom of Jordan
{{DEFAULTSORT:Jordanian Dinar
Currencies of Jordan
Fixed exchange rate
Currencies introduced in 1949