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Fijian dollar

From Wikipedia, the free encyclopedia
Currency of Fiji

Fijian dollar
Dola ni Viti (Fijian)
फिजियन डॉलर (Fiji Hindi)
A current FJ$5 note
ISO 4217
CodeFJD (numeric: 242)
Subunit0.01
Unit
SymbolFJ$ or FJD
Denominations
Subunit
1100cent
Symbol
centc
Banknotes
 Freq. used$5,$10,$20,$50,$100
 Rarely used88c, 100c,$7,$2000
Coins5c, 10c, 20c, 50c,$1,$2
Demographics
User(s) Fiji
Issuance
Central bankReserve Bank of Fiji
 Websitewww.rbf.gov.fj
Valuation
Inflation2.5%
 SourceReserve Bank of Fiji, Sep 2023 est.

TheFijian dollar (currency sign: FJ$,$;currency code:FJD) has been thecurrency ofFiji since 1969 and was also the currency between 1867 and 1873. It is normally abbreviated with thedollar sign$, or alternativelyFJ$ to distinguish it from otherdollar-denominated currencies. It is divided into 100cents.

History

[edit]

Decimalisation origins

[edit]

Fiji followed the pattern ofSouth Africa,Australia, andNew Zealand in that when it adopted thedecimal system, it decided to use the half pound unit as opposed to the pound unit of account. The choice of the namedollar was motivated by the fact that the reduced value of the new unit corresponded more closely to the value of theUS dollar than it did to thepound sterling.

Second dollar (1969–present)

[edit]

The dollar was reintroduced on 15 January 1969, replacing theFijian pound at a rate of 1 pound = 2 dollars, or 10shillings = FJ$1. Despite Fiji having been arepublic since 1987, coins and banknotes continued to featureQueen Elizabeth II until 2013, when her portrait was replaced with pictures of plants and animals.[1]

Coinage

[edit]
Main article:Coins of the Fijian dollar

In 1969, coins were introduced in denominations of 1c, 2c, 5c, 10c & 20c, with a 50c coin issued in 1975. The coins had the same sizes and compositions as the correspondingAustralian coins, with the 50 cents matching thecupronickel dodecagonal type introduced in Australia in 1969. In 1990, new compositions were introduced, with copper-plated zinc used for the 1¢ and 2¢ coins, and nickel-plated steel for the 5c, 10c, 20c & 50c. An aluminium-bronze$1 coin was introduced in 1995, replacing the$1 note. 2009 saw the introduction of a new smaller coinage from 5 to 50 cents.[citation needed] These were struck by theRoyal Canadian Mint and are made with the three-ply electroplate method. The 1 and 2 cents were also discontinued and withdrawn the same year. A thinner brass plated steel$1 coin was later introduced in 2010, gradually phasing out the older type.

In 2013 Fiji released a whole family of new coins, with fauna themes, and without the Queen's portrait.[citation needed] This new series saw the introduction of a$2 coin, replacing the corresponding note just as the$1 coin had done before. This coin faced controversy due to being too easily mistaken as a$1, as it was only slightly larger of the same colour. It was replaced by a larger and thickerSpanish flower shaped$2 coin in 2014.[2] The metallic content of both the$1 and$2 was also changed in 2014 for better durability and resistance to wear after widespread complaints of the coins corroding and "turning black".

ValueComposition2012 series
ObverseReverse
5cthree ply nickel-clad steelNuqa-roro (Foxface Rabbitfish)Lali (drum)
10cBeka-Mirimiri (Fiji Flying Fox)I ulã tavatava (throwing club)
20cKakã (Kadavu Shining Parrot)Tabua (whale's tooth)
50cVarivoce (Humphead Wrasse)Camakau (traditional outrigger canoe)
$1three ply nickel-clad brassVokai (Banded Iguana)Saqãmoli (drinking vessel)
$2Ga ni Vatu (Peregrine Falcon)Tanoa (kava bowl)

Banknotes

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First dollar

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Series 1872 Treasury Note for 10 dollars payable atLevuka

In 1867, the government treasury issued 1 dollar notes. These were followed by notes for$1,$5,$10,$25 and$50 issued between 1871 and 1873. Also between 1871 and 1873, KingSeru Epenisa Cakobau issued notes in denominations of12+12¢, 25¢, 50¢, 100¢ and$5.Levuka (onOvalau island) issued$1 and$5 notes during the 1870s.

Second dollar

[edit]
Commemorative two-dollar banknote for 2000

On 15 January 1969, the government introduced notes in denominations of 50 cents,$1,$2,$10, and$20; the$5 note was not issued until 1970.[3] The Central Monetary Authority took over the issuance of paper money in 1974, issuing the same denominations, although the 50c note was replaced by a coin on 3 March 1975. In 1986, theReserve Bank of Fiji began issuing notes. The$1 note was replaced by a coin in 1995. The$50 note was introduced in 1996, followed by a$100 note on 10 April 2007. Banknote denominations in circulation as of 2017 are:$5,$10,$20,$50 and$100.[4]

2007 Series

[edit]
2007 Series[5]
ImageValueDimensionsMain colourDescriptionDate of issueDate of first issueWatermark
ObverseReverse
[6]$2131 × 67 mmGreenMohar (sovereign locket); domodomo (canoe masthead) as registration device;Queen Elizabeth II;Fijian coat of armsChildren,National Stadium in Suva, Korobas mountains200710 April 2007Fijian head and electrotype 2
[7]$5136 × 67 mmBrownKatoni Masima; domodomo (canoe masthead) as registration device;Queen Elizabeth II;Fijian coat of armsMount Valili,Fiji Crested Iguana,Balaka palm,Masiratu flowerFijian head and electrotype 5
[8]$10141 × 67 mmPurplei Buburau ni Bete; domodomo (canoe masthead) as registration device;Queen Elizabeth II;Fijian coat of armsJoske's Thumb;Grand Pacific HotelFijian head and electrotype 10
$20146 × 67 mmBlueFoa; domodomo (canoe masthead) as registration device;Queen Elizabeth II;Fijian coat of armsFish processing; cutting lumber; mining; train; Mount Uluinabukelevu2007[9]Fijian head and electrotype 20
$50151 × 67 mmRedWasekaseka; domodomo (canoe masthead) as registration device;Queen Elizabeth II;Fijian coat of armsCeremonial presentation ofTabua andYaqona2007[10]Fijian head and electrotype 50
$100156 × 67 mmYellowBuli Kula; domodomo (canoe masthead) as registration device;Queen Elizabeth II;Fijian coat of arms.Map of Fiji; Tourism2007Fijian head and electrotype 100

2012 Series

[edit]
2012 Series[11]
ImageValueDimensionsMain colourDescriptionDate of issueDate of first issueWatermark
ObverseReverse

[12]
$5136 × 67 mmGreenKatoni Masima; domodomo (canoe masthead) as registration device;Red-throated lorikeet;Fijian coat of armsMount Valili,Fiji Crested Iguana,Balaka palm,Masiratu flower20122 January 2013Fijian head and electrotype 5

[13]
$10141 × 67 mmPurplei Buburau ni Bete; domodomo (canoe masthead) as registration device;Beli fish;Fijian coat of armsJoske's Thumb;Grand Pacific HotelFijian head and electrotype 10

[14]
$20146 × 67 mmBlueFoa; domodomo (canoe masthead) as registration device;MacGillivray's petrel;Fijian coat of armsFish processing; cutting lumber; mining; train; Mount UluinabukelevuFijian head and electrotype 20

[15]
$50151 × 67 mmRedWasekaseka; domodomo (canoe masthead) as registration device;Tagimoucia flower;Fijian coat of armsCeremonial presentation ofTabua andYaqonaFijian head and electrotype 50

[16]
$100156 × 67 mmYellowBuli Kula; domodomo (canoe masthead) as registration device;Nanai (Fiji cicada);Fijian coat of arms.Map of Fiji; TourismFijian head and electrotype 100

Commemorative banknotes

[edit]
  • 2000 2 Dollars – Millennium
  • 2000 2,000 Dollars – Millennium
  • 2017 7 Dollars – Victory of theFijian rugby sevens team at the2016 Summer Olympics inRio de Janeiro.[17]
  • 2020 50 Dollars – Fiji's 50th Independence Anniversary.[18][19][20]
  • 2022 7 Dollars - Fijian Rugby 7s. at the Olympic Games in Tokyo, Japan[1]
  • 2022 88 Cents - Chinese God of Wealth
  • 2023 100 Cents - Lunar New Year and the Year of the Dragon

Current status and value

[edit]

On 16 August 2005, Finance MinisterRatu Jone Kubuabola announced that theCabinet had approved the introduction of a$100 banknote and the withdrawal of the 1 and 2 cent coin, as the minting cost exceeded its face value. Kubuabola said that the$100 banknote would measure 156 × 67mm, 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 arepublic. Fiji is, however, a member of theCommonwealth, and Queen Elizabeth was recognized as Paramount Chief of theGreat Council of Chiefs of Fiji until her death on 8 September 2022. Her portrait was updated to a more mature one, which was released in 2007, becoming the fourth portrait of the Queen to appear on Fijian currency.

In 2009, the demonetization of the 1 and 2 cent coins was made official and a new coin set of 5, 10, 20, and 50 cent coins with reduced size were introduced. The old coins based on the Australian size standard were withdrawn from circulation. The reformed coins were introduced to save on production costs. The new 50 cent piece is also round with reeded edges rather than twelve-sided. On 2 March 2011, it was announced that Fiji would drop Queen Elizabeth II's portrait from its coins and notes, instead opting for localflora andfauna.[21] The removal was seen as retaliation for Fiji's suspension from its full membership of theCommonwealth.[21] The new set, which was unveiled on 12 December 2012, was issued on 2 January 2013. The new series of Fijian coins include a brass-plated steel$2 coin intended to replace the note, and a thinner, reduced weight$1 coin. The new series of Fijian dollar banknotes feature Fijian flora and fauna to replace the portrait of Queen Elizabeth II. One change in the redesign of the Fijian dollar banknotes was the$5 note. Originally printed on paper, it is now issued as apolymer banknote.[22]

Polymer plastic-coated notes were introduced in 2007, featuring images of local people, culture, trade and industry. Their sizes vary among denominations.

A new series of notes, the "Flora and Fauna" design series, was introduced in 2013, featuring endemic flora and fauna. The image ofQueen Elizabeth II no longer features in the new banknote series. The$2 note, now coined, ceased to be legal tender on 31 March 2013 and the$5 note is now printed in green, a change from its previous tawny and brown colour scheme. The new$5 note, the first banknote from the "Flora and Fauna" design series, entered into circulation on 2 April 2013.[23][24][25]

Current FJD exchange rates
FromGoogle Finance:AUDCADCHFCNYEURGBPHKDJPYUSDSGDNZDEUR
FromYahoo! Finance:AUDCADCHFCNYEURGBPHKDJPYUSDSGDNZDEUR
FromXE.com:AUDCADCHFCNYEURGBPHKDJPYUSDSGDNZDEUR
From OANDA:AUDCADCHFCNYEURGBPHKDJPYUSDSGDNZDEUR

See also

[edit]

References

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  1. ^"Fiji replaces currency images of Queen Elizabeth II with endemic plants, animals".The Australian. 12 December 2012. Retrieved20 December 2012.
  2. ^"New Fiji $2 coins in circulation next Monday | Fiji One". Archived fromthe original on 6 January 2015. Retrieved1 December 2016.
  3. ^Linzmayer, Owen (2012). "Fiji".The Banknote Book. San Francisco, CA: BanknoteNews.com.
  4. ^Nachthund (2 May 2007)."Update – Fiji". Archived fromthe original on 27 September 2007. Retrieved3 May 2007.
  5. ^"BanknoteNews – Breaking news about world paper money. Powered by The Banknote Book".Banknotenews.com. Archived fromthe original on 6 August 2020. Retrieved21 February 2022.
  6. ^"109" – Fiji 2 Dollars fromhttp://banknote.ws/
  7. ^"110" – Fiji 5 Dollars fromhttp://banknote.ws/
  8. ^– "111" Fiji 10 Dollars fromhttp://banknote.ws/
  9. ^"112" – Fiji 20 Dollars fromhttp://banknote.ws/
  10. ^"113" – Fiji 50 Dollars fromhttp://banknote.ws/
  11. ^"BanknoteNews – Breaking news about world paper money. Powered by The Banknote Book".Banknotenews.com. Archived fromthe original on 16 December 2020. Retrieved21 February 2022.
  12. ^"110" – Fiji 5 DollarsArchived 7 July 2016 at theWayback Machine fromhttp://banknote.ws/
  13. ^– "111" Fiji 10 DollarsArchived 7 July 2016 at theWayback Machine fromhttp://banknote.ws/
  14. ^"112" – Fiji 20 DollarsArchived 7 June 2016 at theWayback Machine fromhttp://banknote.ws/
  15. ^"113" – Fiji 50 DollarsArchived 7 June 2016 at theWayback Machine fromhttp://banknote.ws/
  16. ^"114" – Fiji 50 DollarsArchived 7 July 2016 at theWayback Machine fromhttp://banknote.ws/
  17. ^Aualiitia, Tahlea (24 July 2021)."Why fans of Fiji's rugby sevens team are clutching this rare banknote during the Olympics". ABC News.
  18. ^"Commemorative Currency Launch To Mark Fiji 50".Fijisun.com.fj. Retrieved24 October 2020.
  19. ^"Special Fiji 50 coins and banknotes unveiled".Fijivillage.com. Retrieved24 October 2020.
  20. ^"Fiji launches commemorative banknotes; issued into circulation tomorrow".Fijitimes.com. 7 October 2020. Retrieved24 October 2020.
  21. ^ab"Fiji to dump British queen from currency – Offbeat – Emirates24|7".Emirates247.com. 2 March 2011.
  22. ^Fiji new 2012 flora and fauna series confirmedArchived 17 August 2013 at theWayback Machine,BanknoteNews.com. 30 January 2013. Retrieved on 2013-02-04.
  23. ^"Ministry of Foreign Affairs, Malaysia - FIji's NEW FLORA AND FAUNA DESIGN BANKNOTES AND COINS - Home".www.kln.gov.my. Archived fromthe original on 21 February 2014. Retrieved20 July 2022.
  24. ^Barrowclough, Anne."Fiji currency replaces monarchy with animal kingdom".The Times.
  25. ^"Fiji Issues First Polymer Banknote".Securamonde.com. 3 April 2013.

External links

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