The Jordanian Dinar is the currency of Jordan and the Palestinian Autonomous Areas in the West Bank. Its ISO code is JOD and it is abbreviated to JD. There is no official symbol for the dinar, so it is represented by its abbreviation JD.
History of the Jordanian currency
The dinar was introduced in 1949. After Jordan became an independent kingdom in May 1946, the idea of a single currency was advocated. It has been the official currency since 1950, ending the use of its predecessor, the Palestinian pound.
Since 1971, the Jordanian dinar has been linked to the British pound sterling. When the dollar was devalued in 1971, the Jordanian dinar broke its price link with the pound sterling, but kept its fixed exchange rate with the US dollar, the dollar. Jordan maintained the exchange rate with the US dollar until 1974, which, however, was made a flexible currency in the same year under pressure of inflation caused by political fluctuations.
In 1988 the dinar was devalued by 11.9% and was available at a free exchange rate. Another devaluation followed in 1989 with 13.2% when the exchange stock exchanges were closed. In July
In 1989 a system was then introduced in which a two-tier exchange rate was introduced. In addition to a fixed rate that applied to imported goods such as essential foods or medicine, there was also the free rate, which concerned supply and demand and governed every other transaction.
In 1990 this system was abandoned and a valid price was linked to the SDR special drawing right on the basis of trade-weighted transactions.
Exchange into Jordanian dinars
Before traveling to Jordan you should of course think about where you can change your money. Since the exchange rates for the dollar have not changed since 1995, you still get more dinars per dollar when you exchange in Jordan than in the United States. The value of the dinar to the other currencies fluctuates continuously following the market force.