Fijian dollar
From Wikipedia, the free encyclopedia
| Fijian dollar | |||
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| ISO 4217 Code | FJD | ||
|---|---|---|---|
| User(s) | Fiji | ||
| Inflation | 3% | ||
| Source | The World Factbook, 2005 est. | ||
| Subunit | |||
| 1/100 | cent | ||
| Symbol | FJ$ | ||
| Coins | 1, 2, 5, 10, 20, 50 cents, $1 | ||
| Banknotes | $2, $5, $10, $20, $50 | ||
| Central bank | Reserve Bank of Fiji | ||
| Website | www.reservebank.gov.fj | ||
The dollar (currency code FJD) has been the currency of Fiji since 1969. 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.
The dollar was also the currency of Fiji between 1867 and 1873.
Contents |
[edit] History
[edit] First dollar, 1867-1873
Fiji issued paper money denominated in dollars and cents between 1867 and 1873. The dollar was equal in value to the silver US dollar. The dollar was replaced by the British pound, following Fiji becoming a British colony.
[edit] Second dollar, 1969-
The dollar was reintroduced in 1969, replacing the Fijian pound at a rate of 1 pound = 2 dollars. The coins as well as the banknotes feature Queen Elizabeth II as well as items of Fijian culture, such as a tabua on the 20 cent piece.
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 two cent coin, as its minting cost exceeded its face falue. 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 an 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.
The Reserve Bank of Fiji Governor Savenaca Narube announced on 11 February 2006 that polymer plastic coated notes would be introduced, featuring images of local people, culture, trade and industry. The new notes, which would be ready for distribution in early 2007, would vary in size, Narube said.
The Fijian dollar's exchange value towards the US dollar tends to be USD 1 = FJD 1.6 to FJD 1.7.
[edit] Coins
- 1 cent
- 2 cents (to be withdrawn)
- 5 cents
- 10 cents
- 20 cents
- 50 cents
- $1
[edit] Banknotes
- $2
- $5
- $10
- $20
- $50
- $100 (not yet in circulation).
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