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Encyclopedia > Djiboutian Franc
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. A fixed exchange rate, sometimes (less commonly) called a pegged exchange rate, is a type of exchange rate regime wherein a currencys value is matched to the value of another single currency or to a basket of other currencies, or to another measure of value, such as gold. ... USD redirects here. ... Centime is French for cent, and is used in English as the name of the fraction currency in several Francophone countries (including Switzerland and formerly France), where it is one hundredth of a franc. ... The Central Bank of Djibouti (French: ) is the central bank of Djibouti. ... Arabic redirects here. ... A world map showing the continent of Africa Africa is the worlds second-largest and second most-populous continent, after Asia. ... ISO 4217 is the international standard describing three letter codes (also known as the currency code) to define the names of currencies established by the International Organization for Standardization (ISO). ...

Contents

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. ISO 4217 Code FRF User(s) Monaco, Andorra, France except New Caledonia, French Polynesia, and Wallis and Futuna ERM Since 13 March 1979 Fixed rate since 31 December 1998 Replaced by €, non cash 1 January 1999 Replaced by €, cash 1 January 2002 € = 6. ... “INR” redirects here. ... ‹ The template below (Expand) is being considered for deletion. ...


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. ISO 4217 Code FRF User(s) Monaco, Andorra, France except New Caledonia, French Polynesia, and Wallis and Futuna ERM Since 13 March 1979 Fixed rate since 31 December 1998 Replaced by €, non cash 1 January 1999 Replaced by €, cash 1 January 2002 € = 6. ... Ypres, 1917, in the vicinity of the Battle of Passchendaele. ...


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. The United States dollar is the official currency of the United States. ... Wikipedia does not have an article with this exact name. ...


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.


Coins

Aluminum redirects here. ... Aluminium bronze is a type of bronze in which aluminium is the main alloying metal added to copper. ... Cupronickel is an alloy of copper, nickel and stengthening impurities. ... Aluminium bronze is a type of bronze in which aluminium is the main alloying metal added to copper. ...

Banknotes

1000, 2000, 5000 and 10,000 francs

Current DJF exchange rates
Use Yahoo! Finance: AUD CAD CHF EUR GBP HKD JPY USD
Use XE.com: AUD CAD CHF EUR GBP HKD JPY USD
Use OANDA.com: AUD CAD CHF EUR GBP HKD JPY USD

Note: Rates obtained from these websites may contradict with pegged rate mentioned above

See also

The economy of Djibouti depends on a large foreign expatriate community, the maritime and commercial activities of the Port of Djibouti, its airport, and the operation of the Addis Ababa-Djibouti railroad. ...

External links


  Results from FactBites:
 
franc - definition of franc in Encyclopedia (1068 words)
The franc was originally a French gold coin of 3.87 g minted in 1360 on the occasion of the release of King John II ("the good"), held by the English since his capture at the Battle of Poitiers four years earlier.
Though abolished as a legal coin by Louis XIII in 1641 in favor of the gold louis or ecu, the term franc continued to be used in common parlance for the livre.
The franc was re-established as the national currency by the French Revolutionary Convention in 1795 as a decimal unit of 4.5 g of fine silver (theoretically slightly less than the livre of 4.505 g, though the new coin was set in 1796 at 1.0125 livres, reflecting in part the past minting of sub-standard coin).
  More results at FactBites »

 

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