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 communicati ...

: 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 dirhams, 100 qirsh (also called piastres) or 1000

fulus The fals ( ar, فلس, fals, plural ''fulus'') was a medieval copper coin first produced by the Umayyad caliphate (661–750) beginning in the late 7th century. The name of the coin is derived from the ''follis'', a Roman and later Byzantine co ...

. 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 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.

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 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. 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.

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 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. E.Watson; Walter ...

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 ...

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

for "piece of four" or "quarter". # ''nusf'' is

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 The International Monetary Fund (IMF) is a major financial agency of the United Nations, and an international financial institution, headquartered in Washington, D.C., consisting of 190 countries. Its stated mission is "working to foster glob ...

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 official ...

= 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:

References

External links

Coins of the Hashemite Kingdom of Jordan

Banknotes of the Hashemite Kingdom of Jordan

{{DEFAULTSORT:Jordanian Dinar Currencies of Jordan Fixed exchange rate Currencies introduced in 1949