The official currency for the Djibouti is the Djibouti Franc (DJF). The symbol used for the Franc is Fdj. The Franc is subdivided into centimes; 1 DJF = 100 centimes.
- The economy of Djibouti consists mainly of the service industry.
- There is almost no development in the agriculture or industrial sectors.
- Unemployment is high; more than 43% of the population falls under the poverty line.
- Private sector development and human capital accumulation need to be enhanced.
- Djibouti is strategically situated between the Red Sea and the Gulf of Aden. The country is used as a transit port and is a free-trade zone.
- Djibouti became part of the French protectorate in 1884. The Franc was introduced to Djibouti and was used along with the Indian Rupee and the Maria Theresa Thaler.
- In 1908, the Franc was officially fixed at the same value of the French Franc.
- In 1910, banknotes were issued by the Bank of Indochina.
- From 1919 to 1922, tokens and Commerce paper money were issued.
- In 1948, the first Djibouti coins were issued.
- In 1949, the Dijibout Franc was introduced and pegged against the US Dollar at 1 USD = 214.392 Francs.
- In 1952, production of banknotes was taken over by Public Treasury.
- In 1971 and 1973 the Franc was revalued. In 1973 the Franc was rated at 1 USD = 177.721 Franc and remains at that rate.
- In 1977, a new design of banknotes was issued and the national bank took over the printing of banknotes.
Symbols and Names
- Symbols: Fdj
- Nicknames: none
ISO 4217 Code
- Centime = 1/100 of a Franc
- Bills: 1,000, 2,000, 5,000, 10,000 Fdj
- Coins: 1, 2, 5, 10, 20, 50, 100, 500 Fdj
Countries Using This Currency
Currencies Pegged To DJF :
DJF Is Pegged To:
- United States Dollar = 177.721 francs