Djiboutian franc
From Wikipedia, the free encyclopedia
| Djiboutian franc franc djibouti (French) الفرنك الجيبوتي (Arabic) |
|
| ISO 4217 Code | DJF |
|---|---|
| User(s) | Djibouti |
| Inflation | 3% |
| Source | The World Factbook, 2005 est. |
| Pegged with | U.S. dollar = 177.721 francs |
| Subunit | |
| 1/100 | centime |
| Symbol | Fdj |
| Coins | 1, 2, 5, 10, 20, 50, 100, 500 Fdj |
| Banknotes | 1000, 2000, 5000, 10 000 Fdj |
| Central bank | Banque Centrale de Djibouti |
| Website | www.banque-centrale.dj |
The franc (Arabic: فرنك) is the official currency of the African nation of Djibouti. Its ISO 4217 currency code is DJF. Historically it was subdivided into 100 centimes.
Contents |
[edit] History
From 1884, when Djibouti became a French protectorate, the French franc circulated alongside the Indian rupee and the Maria Theresa thaler. These coexisted with 2 francs = 1 rupee and 4.2 francs = 1 Maria Theresa thaler.
From 1908, francs circulating in Djibouti were legally fixed at the value of the French franc. Starting in 1910, banknotes were issued for the then colony by the Bank of Indochina, in denominations of 5, 20 and 100 francs. Chamber of Commerce paper money and tokens were issued between 1919 and 1922 in denominations between 5 centimes and 1 franc. The decline in the value of the French franc following the First World War caused 500 and 1000 francs notes to be introduced in 1927 and 1938, respectively.
In 1948, the first coins (1, 2 and 5 francs) were issued specifically for use in Djibouti, in the name of the "Côte Française des Somalis". In 1949, an independent Djiboutian franc came in to being when the local currency was pegged to the US dollar at a rate of 214.392 francs = 1 dollar. This was the value which the French franc had had under the Bretton Woods system until a few months before. Consequently, the Djibotuian economy was not affected by the further devaluations of the French franc.
In 1952, the Public Treasury took over the production of paper money and a 5000 francs note was introduced. By 1965, coins of 10 and 20 francs had been introduced and the lowest notes were 50 francs. The change of name to "French Afars and Issas" in 1967 was reflected on both the coins and notes and was followed in 1970 by the introduction of 50 and 100 francs coins to replace the paper money equivalents. In 1971 and 1973, the franc was revalued against the US dollar, first to a rate of 197.466 to the dollar, then 177.721, a rate which has been maintained ever since.
A further change in coin and banknote design followed independence in 1977. The National Bank took over production of banknotes. The only subsequent changes have been the introduction of 10,000 francs notes in 1984 and the replacement of the 500 franc note with a coin in 1989.
[edit] Coins
- Aluminium 1, 2 and 5 francs
- Aluminium bronze 10 and 20 francs
- Cupro-nickel 50 and 100 francs
- Aluminium bronze 500 francs
[edit] Banknotes
1000, 2000, 5000 and 10,000 francs
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Note: Rates obtained from these websites may contradict with pegged rate mentioned above
[edit] External links
| Currencies named franc or similar | |
|---|---|
| Current | Burundian franc · CFA franc (Central African CFA franc · West African CFA franc) · CFP franc · Comorian franc · Congolese franc · Djiboutian franc · Guinean franc · Liechtenstein frank · Rwandan franc · Swiss franc · UIC franc |
| Defunct | Algerian franc · Belgian franc · Cambodian franc · French Camerounian franc · French franc · Katangan franc · Gold franc · Luxembourgish franc · Malagasy franc · Malian franc · Monegasque franc · Moroccan franc · New Hebrides franc · Réunion franc · Rwanda and Burundi franc · Saar franc · Tunisian franc · Westphalian Frank |
| Hypothetical | US occupation franc |
