Djiboutian franc

Djiboutian franc

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Encyclopedia
The franc is the currency
Currency
In economics, currency refers to a generally accepted medium of exchange. These are usually the coins and banknotes of a particular government, which comprise the physical aspects of a nation's money supply...

 of Djibouti
Djibouti
Djibouti , officially the Republic of Djibouti , is a country in the Horn of Africa. It is bordered by Eritrea in the north, Ethiopia in the west and south, and Somalia in the southeast. The remainder of the border is formed by the Red Sea and the Gulf of Aden at the east...

. The ISO 4217
ISO 4217
ISO 4217 is a standard published by the International Standards Organization, which delineates currency designators, country codes , and references to minor units in three tables:* Table A.1 – Current currency & funds code list...

 currency code is DJF. Historically it was subdivided into 100 centimes.

History


From 1884, when Djibouti became a French
France
The French Republic , The French Republic , The French Republic , (commonly known as France , is a unitary semi-presidential republic in Western Europe with several overseas territories and islands located on other continents and in the Indian, Pacific, and Atlantic oceans. Metropolitan France...

 protectorate, the French franc
French franc
The franc was a currency of France. Along with the Spanish peseta, it was also a de facto currency used in Andorra . Between 1360 and 1641, it was the name of coins worth 1 livre tournois and it remained in common parlance as a term for this amount of money...

 circulated alongside the Indian rupee
Indian rupee
The Indian rupee is the official currency of the Republic of India. The issuance of the currency is controlled by the Reserve Bank of India....

 and the Maria Theresa thaler
Maria Theresa thaler
The Maria Theresa thaler is a silver bullion-coin that has been used in world trade continuously. Maria Theresa Thalers were first minted in 1741, using the then Reichsthaler standard of 9 thalers to the Vienna mark. In 1750 the thaler was debased to 10 thalers to the Vienna Mark...

. These coexisted with 2 francs = 1 rupee and 4.2 francs = 1 Maria Theresa thaler.

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. Chamber of Commerce paper money and tokens were issued between 1919 and 1922.

In 1948, the first coins 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
Bretton Woods system
The Bretton Woods system of monetary management established the rules for commercial and financial relations among the world's major industrial states in the mid 20th century...

 until a few months before. Consequently, the Djiboutian economy was not affected by the further devaluations of the French franc.

In 1952, the Public Treasury took over the production of paper money. The change of name to "French Afars and Issas" in 1967 was reflected on both the coins and notes. 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.

Coins


Between 1920 and 1922, the Chamber of Commerce issued tokens struck in zinc, aluminium, bronze and aluminium-bronze in denominations of 5, 10, 25 and 50 centimes and 1 franc. Shapes included round, hexagonal and octagonal.

In 1948, aluminium 1, 2 and 5 francs were introduced. Aluminium-bronze 20 francs were introduced in 1952, followed by 10 francs in 1965. Cupro-nickel 50 and 100 francs were introduced in 1970, with aluminium-bronze 500 francs added in 1989.

Banknotes


Between 1910 and 1915, banknotes were introduced in denominations of 5, 20 and 100 francs. Chamber of Commerce notes were introduced in 1919 in denominations of 5, 10 and 50 centimes and 1 franc. The decline in the value of the French franc following World War I
World War I
World War I , which was predominantly called the World War or the Great War from its occurrence until 1939, and the First World War or World War I thereafter, was a major war centred in Europe that began on 28 July 1914 and lasted until 11 November 1918...

 caused 500 and 1000 franc banknotes to be introduced in 1927 and 1938, respectively. 10 franc notes were introduced in 1946.

When the Public Treasury took over the production of paper money in 1952, the 5, 10 and 20 franc notes ceased production and 5000 franc notes were introduced. In 1970 by the 50 and 100 franc notes were replaced by coins. In 1977, the National Bank took over production of banknotes. The only subsequent changes have been the introduction of 10,000 franc notes in 1984 and the replacement of the 500 franc note with a coin in 1989.
1979-1980 noteshttp://www.infotech2003.com/catalogue/World/cata.asp?Country=Djibouti
Image Value Main Colour Obverse Reverse Date of issue
500 francs Man at left, rocks in sea, storks at right Stern of ship at right 1979
1000 francs Red Woman at left, people by diesel passenger trains at center Trader with camels at center
5000 francs Man at right, forest scene at center Aerial view
10,000 francs Brown and red Woman holding baby Fish and harbor scene 1984
1997-2002 noteshttp://www.infotech2003.com/catalogue/World/cata.asp?Country=Djiboutihttp://aes.iupui.edu/rwise/countries/djibouti.html
1000 francs Red Ali Ahmed Oudoum 2005
2000 francs Blue Young girl at right, camel caravan at center Statue with and shield at lower left, government bldg. at center 1997
5000 francs Violet Mahmoud Harbi
Mahmoud Harbi
Mahmoud Harbi Farah was a Somali politician. A Pan-Somalist, he was Djibouti's Prime Minister and the Vice President of its Territorial Assembly from 1957 to December 1958, during the country's pre-independence period.-Early years:...

Dancers 2002
10,000 francs Green President Hassan Gouled Aptidon
Hassan Gouled Aptidon
Hassan Gouled Aptidon was the first President of Djibouti from 1977 to 1999.-Biography:...

Central Bank building 1999

Exchange rate