Currency of Fiji
Fijian dollar
Dola ni Viti
(
Fijian
)
?????? ????
(
Fiji Hindi
)
|
---|
A current FJ$5 note
|
|
Code
| FJD (numeric:
242
)
|
---|
Subunit
| 0.01
|
---|
|
Symbol
| FJ$ or FJD
|
---|
|
Subunit
| |
---|
1
⁄
100
| cent
|
---|
Symbol
| |
---|
cent
| c
|
---|
Banknotes
| |
---|
Freq. used
| $5
,
$10
,
$20
,
$50
,
$100
|
---|
Rarely used
| 88c , 100c,
$7
,
$2000
|
---|
Coins
| 5c, 10c, 20c, 50c,
$1
,
$2
|
---|
|
User(s)
|
Fiji
|
---|
|
Central bank
| Reserve Bank of Fiji
|
---|
Website
| www
.rbf
.gov
.fj
|
---|
|
Inflation
| 2.5%
|
---|
Source
| Reserve Bank of Fiji
, Sep 2023 est.
|
---|
The
Fijian dollar
(
currency sign
: FJ$,
$
;
currency code
:
FJD
) has been the
currency
of
Fiji
since 1969 and was also the currency between 1867 and 1873. It is normally abbreviated with the
dollar sign
$
, or alternatively
FJ$
to distinguish it from other
dollar
-denominated currencies. It is divided into 100
cents
.
History
[
edit
]
Decimalisation origins
[
edit
]
Fiji followed the pattern of
South Africa
,
Australia
, and
New Zealand
in that when it adopted the
decimal system
, it decided to use the half pound unit as opposed to the pound unit of account. The choice of the name
dollar
was motivated by the fact that the reduced value of the new unit corresponded more closely to the value of the
US dollar
than it did to the
pound sterling
.
Second dollar (1969?present)
[
edit
]
The dollar was reintroduced on 15 January 1969, replacing the
Fijian pound
at a rate of 1 pound = 2 dollars, or 10
shillings
= FJ$1. Despite Fiji having been a
republic
since 1987, coins and banknotes continued to feature
Queen Elizabeth II
until 2013, when her portrait was replaced with pictures of plants and animals.
[1]
Coinage
[
edit
]
In 1969, coins were introduced in denominations of 1c, 2c, 5c, 10c & 20c, with a 50c coin issued in 1975. The coins had the same sizes and compositions as the corresponding
Australian coins
, with the 50 cents matching the
cupronickel
dodecagonal type introduced in Australia in 1969. In 1990, new compositions were introduced, with copper-plated zinc used for the 1¢ and 2¢ coins, and nickel-plated steel for the 5c, 10c, 20c & 50c. An aluminium-bronze
$1
coin was introduced in 1995, replacing the
$1
note. 2009 saw the introduction of a new smaller coinage from 5 to 50 cents.
[
citation needed
]
These were struck by the
Royal Canadian Mint
and are made with the three-ply electroplate method. The 1 and 2 cents were also discontinued and withdrawn the same year. A thinner brass plated steel
$1
coin was later introduced in 2010, gradually phasing out the older type.
In 2013 Fiji released a whole family of new coins, with fauna themes, and without the Queen's portrait.
[
citation needed
]
This new series saw the introduction of a
$2
coin, replacing the corresponding note just as the
$1
coin had done before. This coin faced controversy due to being too easily mistaken as a
$1
, as it was only slightly larger of the same colour. It was replaced by a larger and thicker
Spanish flower
shaped
$2
coin in 2014.
[2]
The metallic content of both the
$1
and
$2
was also changed in 2014 for better durability and resistance to wear after widespread complaints of the coins corroding and "turning black".
Value
|
Composition
|
2012 series
|
Obverse
|
Reverse
|
5c
|
three ply nickel-clad steel
|
Nuqa-roro (Foxface Rabbitfish)
|
Lali (drum)
|
10c
|
Beka-Mirimiri (Fiji Flying Fox)
|
I ula tavatava (throwing club)
|
20c
|
Kaka (Kadavu Shining Parrot)
|
Tabua (whale's tooth)
|
50c
|
Varivoce (Humphead Wrasse)
|
Camakau (traditional outrigger canoe)
|
$1
|
three ply nickel-clad brass
|
Vokai (Banded Iguana)
|
Saqamoli (drinking vessel)
|
$2
|
Ga ni Vatu (Peregrine Falcon)
|
Tanoa (kava bowl)
|
Banknotes
[
edit
]
First dollar
[
edit
]
In 1867, the government treasury issued 1 dollar notes. These were followed by notes for
$1
,
$5
,
$10
,
$25
and
$50
issued between 1871 and 1873. Also between 1871 and 1873, King
Seru Epenisa Cakobau
issued notes in denominations of
12
+
1
⁄
2
¢, 25¢, 50¢, 100¢ and
$5
.
Levuka
(on
Ovalau
island) issued
$1
and
$5
notes during the 1870s.
Second dollar
[
edit
]
On 15 January 1969, the government introduced notes in denominations of 50 cents,
$1
,
$2
,
$10
, and
$20
; the
$5
note was not issued until 1970.
[3]
The Central Monetary Authority took over the issuance of paper money in 1974, issuing the same denominations, although the 50c note was replaced by a coin on 3 March 1975. In 1986, the
Reserve Bank of Fiji
began issuing notes. The
$1
note was replaced by a coin in 1995. The
$50
note was introduced in 1996, followed by a
$100
note on 10 April 2007. Banknote denominations in circulation as of 2017 are:
$5
,
$10
,
$20
,
$50
and
$100
.
[4]
2007 Series
[
edit
]
2012 Series
[
edit
]
Commemorative banknotes
[
edit
]
- 2000 2 Dollars ? Millennium
- 2000 2,000 Dollars ? Millennium
- 2017 7 Dollars ? Victory of the
Fijian rugby sevens team
at the
2016 Summer Olympics
in
Rio de Janeiro
.
[17]
- 2020 50 Dollars ? Fiji's 50th Independence Anniversary.
[18]
[19]
[20]
- 2022 7 Dollars - Fijian Rugby 7s. at the Olympic Games in Tokyo, Japan
[1]
- 2022 88 Cents - Chinese God of Wealth
- 2023 100 Cents - Lunar New Year and the Year of the Dragon
Current status and value
[
edit
]
On 16 August 2005, Finance Minister
Ratu Jone Kubuabola
announced that the
Cabinet
had approved the introduction of a
$100
banknote and the withdrawal of the 1 and 2 cent coin, as the minting cost exceeded its face value. Kubuabola said that the
$100
banknote would measure 156 × 67
mm
, with the other banknotes receding at 5 mm towards the lowest banknote denomination. The portrait of Queen Elizabeth II would remain on all banknotes, he added, obviously in answer to calls from some politicians to remove the Queen's portrait from the currency after 18 years as a
republic
. Fiji is, however, a member of the
Commonwealth
, and Queen Elizabeth is recognized as Paramount Chief of the
Great Council of Chiefs
of Fiji. Her portrait was updated to a more mature one, which was released in 2007, becoming the fourth portrait of the Queen to appear on Fijian currency.
In 2009, the demonetization of the 1 and 2 cent coins was made official and a new coin set of 5, 10, 20, and 50 cent coins with reduced size were introduced. The old coins based on the Australian size standard were withdrawn from circulation. The reformed coins were introduced to save on production costs. The new 50 cent piece is also round with reeded edges rather than twelve-sided. On 2 March 2011, it was announced that Fiji would drop Queen Elizabeth II from its coins and notes, instead opting for local
flora
and
fauna
.
[21]
The removal was seen as retaliation for Fiji's suspension from its full membership of the
Commonwealth
.
[21]
The new set, which was unveiled on 12 December 2012, was issued on 2 January 2013. The new series of Fijian coins include a bi-metallic (brass-plated steel)
$2
coin intended to replace the note, and a thinner, reduced weight
$1
coin. The new series of Fijian dollar banknotes feature Fijian flora and fauna to replace the portrait of Queen Elizabeth II. One change in the redesign of the Fijian dollar banknotes was the
$5
note. Originally printed on paper, it is now issued as a
polymer banknote
.
[22]
Polymer
plastic-coated notes were introduced in 2007, featuring images of local people, culture, trade and industry. Their sizes vary among denominations
A new series of notes, the "Flora and Fauna" design series, was introduced in 2013, featuring endemic flora and fauna. The image of
Queen Elizabeth II
no longer features in the new banknote series. The
$2
note, now coined, ceased to be legal tender on 31 March 2013 and the
$5
note is now printed in green, a change from its previous tawny and brown colour scheme. The new
$5
note, the first banknote from the "Flora and Fauna" design series, entered into circulation on 2 April 2013.
[23]
[24]
[25]
See also
[
edit
]
References
[
edit
]
External links
[
edit
]
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Circulating
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Circulating,
but renamed
| |
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Defunct
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Noncirculating
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Conceptual
| |
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Virtual
| |
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Fictional
| |
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Private
| |
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See also
| |
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