What Is the Fijian Buck (FJD)?
The Fijian Buck (FJD) is the national foreign exchange of the Republic of Fiji, an archipelago nation with over 300 islands. The FJD was once first introduced in 1867, alternatively its most recent iteration has been in place since 1969.
The foreign exchange sign for the Fijian dollar is $ or FJ$, which differentiates it from the U.S. dollar (USD). It is divided into 100 cents.
Key Takeaways
- The Fijian Buck (FJD) is the national foreign exchange of Fiji.
- Its trendy type has been in transfer since 1969, one year previous than Fiji’s independence from Britain.
- At the present time, Fiji’s financial device is carefully reliant on tourism, along with space of experience exports very similar to bottled water.
Figuring out the FJD
The stylish type of the FJD was once introduced in 1969, converting the Fijian pound at a fee of 2 FJD in line with Fijian pound. Since then, alternatively, the cost of the FJD has been allowed to vary freely on international foreign currency echange echange markets. Between October 2015 and October 2020, the cost of the FJD relative to the USD has held rather sturdy at kind of $0.47 USD in line with FJD.
The Fijian dollar is to be had in $5, $10, $20, $50 and $100 bills of polymer-coated paper, and 5 cent, 10 cent, 20 cent, 50 cent, $1 and $2 money which could be each nickel-clad steel or nickel-clad brass. Prior to 2013, Fijian foreign exchange featured photos of Queen Elizabeth II, alternatively the prevailing bills and money serve as photos of Fijian vegetation and animals. The ones new bills and money are known as the “Plant existence and Fauna” assortment, which serve as a change in color profile for probably the most bills.
The doing away with of Queen Elizabeth II’s portrait from Fijian foreign exchange shows the fact that Fiji obtained independence from Britain in 1970. The latest FJD banknotes include scenes and emblems important to Fijian custom. Examples include the Fijian coat of palms, which is featured on all the trendy banknotes; a map of Fiji, featured on the $100 bill; and the image of a Mariratu flower, which is indigenous to Fiji and featured on the $5 bill.
Precise Global Example of the FJD
The price of the FJD is finally supported in the course of the energy of its financial device. Fiji is an important tourist holiday spot which hosts on the subject of 1 million travelers each year. As such, the tourism sector is an important contributor to Fijian gross house product (GDP) and employment.Â
The unemployment fee in Fiji has held strong between 4% and 4.5% lately, with inflation averaging spherical 3%. Out of doors of Tourism, Fiji exports rather numerous space of experience products, very similar to bottled water, subtle petroleum products, and gold. Its number one export partners are the usa and Australia, who collectively achieve about one-third of all Fiji’s products and services.
