Currency Rates for Djiboutian Franc
Bank Exchange Rates for Djibouti - DJF - Djiboutian Franc - Fdj. The foreign exchange rates for Djibouti also known as the ISO code DJF or the Djiboutian Franc currency and as a symbol Fdj.
There are no denominations of centimes in circulation, however, coins in denominations of 1, 2, 5, 10, 20, 50, 100, 250 and 500 francs are available, and banknotes in denominations of 1,000, 2,000, 5,000 and 10,000 francs are in circulation and used frequently. Send Money Transfer to Djibouti.
History of the Djiboutian Franc (DJF)
Before the introduction of the Djiboutian Franc, the country used the French franc during monetary transactions. This came to an end in the year 1949 when the Djiboutian currency was independently pegged on the US dollar at the ratio of 1 dollar being equivalent to 214.392 francs. This rate was revalued in 1973 to 177.21 equated to 1 dollar. This rate has been fixed up to date. The bank notes were issued in the year 1910 by the bank of Indochina. The first djiboutian coins were issued in 1948.
Notes and Coins
Djibouti franc is subdivided into centimes where 1 DJF is equivalent to 100 centimes. There are coins denominations of 1, 2, 5, 10, 20, 50, 10 and 250 francs available in Djibouti. The notes denominations include 1000, 2000, 5000 and 10000 francs. The latter are used frequently in the monetary circulation. Centimes do not exist in the circulation
There are no strict regulations in the country's foreign exchange capacity. As matter of fact, Djibouti encourages foreign exchange and investment in order to boost and stimulate their economic development. The screening of investments is minimized. The law encourages foreign exchange investors who are meant to provide adequate coverage in the economic projects.
The Djiboutian currency rankings shows that the most popular currency rankings is the DJF to EUR where 1 EUR IS equivalent to 201.188 DJF. The US Dollar rates at 176.46DJF for one dollar.
Brief economic trend
According to the state government, Djboutis economy was lowered by a number of factors in the nineties as a result of the long drought, the influx of refugees, civil war and substantial cut down of foreign aid that saw the constant devaluing of the Djibouti currency. This, however, has been immensely reversed as the factors have been blotted out and substituted by number of investment projects. The government, backed up by the IMF has projected the annual GDP growth of 6% in ht near future.
GBP to DJF
Subdivided into 100 centimes, the Djiboutian franc is the main currency of Djibouti. Originally, Djibouti used the French franc, but in 1949, the Djiboutian currency was independently pegged to the USD at a ratio of 1 dollar = 214.392 francs. In 1973, this rate was revalued to 177.721 Franc = 1 Dollar and has remained the same since. Bank Exchange Rates for Djibouti. The foreign exchange rates for Djiboutian Franc also known as the ISO code DJF. Send money transfer online with us with the cheapest options.