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  Jordanian Currency
 
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Introduction
 
  
 

Banknotes:

 

On 4 August 1965 the first banknotes bearing the name of the Central Bank of Jordan were put into circulation. Prior to this date, currency issue was controlled by two bodies: The Palestine Currency Board from 1927 to 1950, and the Jordan Currency Board from 1950 to 1964.

The Palestine Currency Board issued Palestinian Pound as the official currency in both Palestine and the Trans-Jordan Emirate. After Jordan had been declared an independent kingdom on 25 May, 1946, the idea of issuing a national currency arose: thus the Provisional Act No. 35 of 1949 covering Jordanian currency was passed.

Under this Act, the Jordan Currency Board was formed, and became the sole authority entitled to issue Jordanian currency in the Kingdom. The London-based entity consisted of a president and four members.

As of the first of July 1950, the Jordanian Dinar became the currency unit and the use of the Palestinian Pound ceased in the Kingdom as from 30 September 1950.

The Jordan Currency Board issued notes in the denominations of JD50, 10, 5, 1 and ˝. The first four denominations bear on their obverse the Portrait of His Majesty Late King Abdullah while the obverse of the JD˝ features Wadi Al-Arab irrigation project. Later, three denominations of the same series (JD10, 5 and 1) bearing the portrait of His Majesty Late King Hussein were put into circulation. The design of the Half Dinar denomination remained unchanged, while the Fifty Dinar note was not issued.

The Central Bank of Jordan was established in 1964 and released into circulation its first series of Jordanian notes (First Issue Series) in the denominations of JD10, 5, 1, and ˝, bearing the portrait of His Majesty Late King Hussein. On 5 June 1971, the cabinet has issued a decree nullifying the notes issued by Jordan Currency Board as from 1 November 1971.

In 1974, the bank issued its second series of Jordanian banknotes (Second Issue Series) in a bid to replace the First Issue Series. The notes of the Second Issue Series bear on the obverse the portrait of His Majesty Late King Hussein, while the reverse features different historical, Islamic and modern sights. On 3 June 1978, and due to the increasing demand on Jordanian notes, the Bank has put into circulation a new note in the denomination of JD20. In 1990, the Bank issued a similar note with different color (The blue JD20/ Reserve Issue).

As of 1992, and in order to keep up with the latest developments in the banknote printing technologies, the Bank issued a new family of Jordanian notes (Third Issue Series) which bear the portrait of His Majesty Late King Hussein. The notes were in the denominations of JD20, 10, 5, 1 and ˝. The notes of this series were subsequently modified by adding the “The Hashemite Kingdom of Jordan” in Arabic on the obverse and in English on the reverse and the Issue was hence known as the Modified Third Issue.

On 27 January 2000, the Bank put into circulation a new note in the denomination of JD50, bearing the portrait of his majesty King Abdullah II.

In order to cope with the newest technical developments in banknote printing, including the latest security features, the Central Bank of Jordan put into circulation a new series of banknotes (Fourth Issue Series) bearing the portraits of the Royal Hashemite Family. The first notes issued of this series were the JD5 and the JD10 which were released to circulation on 22 December, 2002 with the portrait of His Majesty Late King Abdullah on the obverse of the first one and the portrait of His Majesty Late King Talal on the obverse of the second note. Shortly, particularly on 2 February, 2003, the JD20 and JD50 were issued: the former bears the portrait of His Majesty Late King Hussein while the latter bears the portrait of His Majesty King Abdullah II. On 30 March, 2003, the JD1, which bears the portrait of His Majesty Late Sherif Hussein Bin Ali, was put into circulation. 

 

Coins:

The oldest modern Jordanian coins date to 1949. After Jordan was declared an independent Kingdom on 25 May, 1946, a new law to establish the Jordan Currency Board was passed in 1949 which authorized the Board to issue Jordanian banknotes and coins.

The first Jordanian coins were in the denominations of 100, 50, 20, 10, 5 and 1 Fils. On the obverse of the coins, appear a crown on the upper part with the denomination of the coin (in Arabic) under it. The reverse features the denomination of the coin (in English). Some denominations were subsequently minted in 1955 and 1965. In 1968, a new series of Jordanian coins, which bear the portrait of His Majesty Late King Hussein, were minted in the denominations of 100, 50, 25, 10, 5 and 1 Fils. In 1969, a new coin in the denomination of JD1/4 was put into circulation to commemorate the 25 th anniversary of the establishment of the FAO. Another coin of the same denomination was issued in 1970. A new JD1/4 coin was put into circulation in 1977 to mark the Silver Jubilee of His Majesty Late King Hussein. These coins, which were made of cupro-nickel alloy, were re-minted in 1970s, 1980s and early 1990s. In 1980, and in commemoration of 15 centuries of the Hejra of Prophet Mohammad from Mecca to Madina, the Central Bank of Jordan has issued a seven lobed JD1/2 coin, the highest in all the denominations issued ever.

Jordanian coins have witnessed a change in their designs as well as their metallic compositions in the 1990s. As of 1992, a new series of coins consisting of (10, 5, 2 ˝) Piastres and (1, ˝) Qirsh were circulated alongside the previous coins. The former coins were made of Nickel Plated Steel and the latter two were made of Copper Plated Steel. In 1995, the Central Bank of Jordan has issued for the first time a new coin in the denomination of JD1. the seven lobed Nickel Brass coin was issued to celebrate the 50 th anniversary of the FAO. In 1996, another JD1 seven lobed coin was issued and was followed by issuing seven lobed JD1/2 and JD1/4 of the same alloy.

In 1997, the Central Bank of Jordan issued a bi-color seven lobed JD1/2 which bears the portrait of His Majesty Late King Hussein. The following year, 15 million coins of a new round JD1 were put into circulation. One million of the 15 million coins were minted to commemorate the 50 th anniversary of the declaration of Human Rights.

With the accession of His Majesty King Abdullah II to the throne in 1999, the Central Bank of Jordan started working on issuing a new coins series bearing the Portrait of His Majesty King Abdullah II. The new series, which is similar in its design and alloy to the 1992 series, were released into circulation stating from 2000 in the denominations of 10 and 5 Piastres and One Qirsh. A new JD1/2 coin with the portrait of His Majesty King Abdullah II was put into circulation in the same year.

 

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Introduction
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