The Djibouti franc is the official currency of Djibouti and is identified in international money markets by its ISO 4217 DJF code. It is abbreviated by the symbol Fdj. The Djibouti franc is composed of sub-units known as “cents” where the hundredths of 1000 are equivalent to the Djibouti franc 1. Djibouti introduced the coin in the early 20th century and replaced Maria Teresa Thaler, the French franc and the Indian Rupee, who were all in circulation in the country. However, the currency was first issued under independent Djibouti in 1949, and was pegged to the US dollar at the rate of 1 US dollar: Djibouti Francs 214,392. The Djibouti franc is pegged to the US dollar at the rate of CHF 177,721 Djibouti: 1 US dollar. The Central Bank of Djibouti was founded in April 18th,
Historical currencies
Before the adoption of the Djibouti franc, there were two main currencies in circulation in the country. The French franc was introduced as the official currency of the country in 1884 after Djibouti was founded as part of the French colony of Somaliland. The French franc was minted in France and sent to the colony where it was issued by the main banks of the colony. The currency was issued in coins and banknotes. The French French coin contained silver, copper and gold coins that bore the appearance of the head of the French Revolution Napoleon on the obverse of the coin. The Indian Rupee was another currency in circulation in Djibouti in the 18th century and in the 19th century. The Indian rupee was mainly used in the coastal region of Djibouti as it was commonly used in international maritime trade. Maria Teresa Thaler was another common currency in circulation during this period. Maria Theresa Thaler, the official currency in many European countries, entered the economy of Djibouti through neighboring Ethiopia which used Maria Teresa Thaler as official currency for over a century. The French franc, the Indian rupee and Maria Theresa Thaler were traded against each other at the rate of 1 Maria Theresa Thaler: 4.2 French Franc or 1 Indian Rupee: 2 French Francs. The three currencies were replaced by the Djibouti franc in the early 20th century. Nearby Ethiopia who used Maria Teresa Thaler as official currency for over a century. The French franc, the Indian rupee and Maria Theresa Thaler were traded against each other at the rate of 1 Maria Theresa Thaler: 4.2 French Franc or 1 Indian Rupee: 2 French Francs. The three currencies were replaced by the Djibouti franc in the early 20th century. Nearby Ethiopia who used Maria Teresa Thaler as official currency for over a century. The French franc, the Indian rupee and Maria Theresa Thaler were traded against each other at the rate of 1 Maria Theresa Thaler: 4.2 French Franc or 1 Indian Rupee: 2 French Francs. The three currencies were replaced by the Djibouti franc in the early 20th century.
Coin and banknotes
The Djibouti franc is issued by the Central Bank of Djibouti in coins and banknotes. Due to high inflation, the cents are not issued in any form, while the francs are issued in large denominations with the highest denomination being the 10,000 Djibouti banknote, while the lowest is the 1 Djibouti Franco currency. Commonly used coins are issued in denominations 1, 2, 5, 10, 50, 100, 250 and 500 Fdj. The 1, 2 and 5 Fdj coins are made of aluminum while the 10, 20 and 500 Fdj coins are made of aluminum-bronze. The 100 and 50 Fdj coins are made of cupronickel. The commonly used banknotes are printed in the denominations 1,000, 2,000, 5,
