Djiboutian franc

Djiboutian franc
franc djibouti (French) الفرنك الجيبوتي (Arabic)
5 Djiboutian francs, minted in 1991.
ISO 4217
Code	DJF
Denominations
Subunit
1/100	centime
Symbol	Fdj
Banknotes	1000, 2000, 5000, 10,000 Fdj
Coins	1, 2, 5, 10, 20, 50, 100, 250, 500 Fdj
Demographics
User(s)	Djibouti
Issuance
Central bank	Central Bank of Djibouti
Website	www.banque-centrale.dj
Valuation
Inflation	2.1% (2015 est.)
Source	The World Factbook, 2013 est.
Pegged with	U.S. dollar = 177.721 francs

The Djiboutian franc (Arabic: فرنك‎‎) is the currency of Djibouti. Its ISO 4217 currency code is DJF. Historically, it was subdivided into 100 centimes.

From 1884, when the French Somaliland protectorate was established, the French franc circulated alongside the Indian rupee and the Maria Theresa thaler. 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 into 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 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. French Somaliland's change of name in 1967 to the French Territory of the Afars and the Issas was reflected on both the territory's 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.

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.