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The Jordanian dinar (Arabic: دينار أردني; code: JOD; unofficially abbreviated as JD) has been the currency of Jordan since 1950. The dinar is divided into 100 qirsh (also called piastres) or 1000 fulus. Fils are effectively obsolete; however, monetary amounts are still written to three decimal places representing fils.
This exchange value of 97.5 piastres to the pound sterling continued until the early 1960s when Egypt devalued slightly and switched to a peg to the United States dollar, at a rate of E£1 = US$2.3. The Egyptian pound continued with its exchange rate of £E = £1 0s 6d sterling until the beginning of the 1960s.
The peg was switched to the special drawing rights on 18 March 1986, with 1 dinar = 2.80 SDRs. On 1 May 1986, the dinar was allowed to trade in a 7.5% range of 2.80 SDRs. This range was expanded several times. The currency started to devalue gradually relative to the US dollar in the mid-1990s, reaching a value of US$1.55 in 2001.
This allowed the dinar to float (or perhaps more accurately, sink) more or less freely. Under this system, the exchange rate reached about 29 dinars to the dollar in 1981, [15] 127 dinars to the dollar by 1984, [16] and 457 dinars to the dollar by 1987. [17] Yugoslavia's chronic inflation was poorly managed.
The Bahraini dinar was introduced in 1965, replacing the Gulf rupee at a rate of 10 rupees = 1 dinar. It was initially equivalent to 3 ⁄ 4 of a pound sterling (15 shillings). When sterling was devalued in 1967, the dinar was repegged to 17s 6d sterling (7 ⁄ 8 of a pound). Bahraini coins and notes were introduced at that time.
A widely traded currency pair is the relation of the euro against the US dollar, designated as EUR / USD. The quotation EUR/USD 1.2500 means that one euro is exchanged for 1.2500 US dollars. Here, EUR is the base currency and USD is the quote currency (counter currency). This means that 1 Euro can be exchangeable to 1.25 US Dollars.
The dinar (/ d ɪ ˈ n ɑː r /) is the name of the principal currency unit in several countries near the Mediterranean Sea, with a more widespread historical use. The English word "dinar" is the transliteration of the Arabic دينار ( dīnār ), which was borrowed via the Syriac dīnarā from the Latin dēnārius .
However, the downfall of Saddam Hussein resulted in the development of a multi-million-dollar industry involving the sale of dinars to speculators. Such exchange services and companies sell dinars at an inflated price, pushing the idea that the dinar would sharply increase in value to a profitable exchange rate some time in the future, instead ...