Fijian Dollar (FJD)

What Is the Fijian Dollar (FJD)?

The Fijian Dollar (FJD) is the national currency of the Republic of Fiji, an archipelago nation with north of 300 islands. The FJD was first presented in 1867, yet its latest emphasis has been in place starting around 1969.

The currency sign for the Fijian dollar is $ or FJ$, which separates it from the U.S. dollar (USD). It is partitioned into 100 pennies.

Grasping the FJD

The modern form of the FJD was presented in 1969, supplanting the Fijian pound at a rate of 2 FJD per Fijian pound. From that point forward, nonetheless, the value of the FJD has been permitted to vacillate uninhibitedly on international foreign exchange markets. Between October 2015 and October 2020, the value of the FJD relative to the USD has held relatively stable at roughly $0.47 USD per FJD.

The Fijian dollar comes in $5, $10, $20, $50 and $100 bills of polymer-covered paper, and 5 penny, 10 penny, 20 penny, 50 penny, $1 and $2 coins that are either nickel-clad steel or nickel-clad metal. Prior to 2013, Fijian currency featured pictures of Queen Elizabeth II, yet the current bills and coins feature pictures of Fijian plants and creatures. These new bills and coins are called the "Verdure" series, which feature a change in variety profile for a portion of the bills.

The removal of Queen Elizabeth II's picture from Fijian currency mirrors the way that Fiji got independence from Britain in 1970. The latest FJD banknotes contain scenes and images significant to Fijian culture. Models incorporate the Fijian ensign, which is featured on every one of the modern banknotes; a guide of Fiji, featured on the $100 bill; and the picture of a Mariratu flower, which is native to Fiji and featured on the $5 bill.

Real World Example of the FJD

The value of the FJD is at last upheld by the strength of its economy. Fiji is a major traveler destination which has close to 1 million vacationers every year. In that capacity, the travel industry sector is a huge supporter of Fijian gross domestic product (GDP) and employment.

The unemployment rate in Fiji has held consistent somewhere in the range of 4% and 4.5% in recent years, with inflation averaging around 3%. Outside of Tourism, Fiji exports different specialty products, like filtered water, refined petroleum products, and gold. Its fundamental export partners are the United States and Australia, who altogether purchase around one-third of every one of Fiji's products and services.

Features

• The Fijian Dollar (FJD) is the national currency of Fiji.
• Its modern form has been in circulation starting around 1969, one year before Fiji's independence from Britain.
• Today, Fiji's economy is intensely dependent on the travel industry, as well as specialty exports like filtered water.