FJD - Fijian Dollar (FJD)

Fijian Dollar

The Fiji Dollar (FJD) is the official currency of Fiji. The symbol for it is the dollar sign. The symbol FJ$ is used to distinguish the Fiji Dollar from the US Dollar. The FJD is subdivided into 100 cents.

The Fiji Dollar is the currency in Fiji (FJ, FJI). The symbol for FJD can be written F$. The Fiji Dollar is divided into 100 cents. The exchange rate for the Fiji Dollar was last updated on May 24, 2019 from Yahoo Finance. The FJD conversion factor has 3 significant digits.

Economy

  • Fiji’s economy is one of the best developed in the Pacific islands. Tourism plays a major role in the economy.
  • In 2006 Fiji launched a 20-year plan for the coconut industry.
  • Import products are tobacco, beverages, foodstuffs, minerals, fuels, and machinery.
  • Export products are garments, sugar, lumber, fish, ginger, and coconut oil.
  • Agricultural products are rice, sweet potatoes, ginger, tapioca, sugar cane, goats, shrimp, pickles, pigs, and cattle.
  • The service industry accounts for 77% of the annual GDP.
  • The unemployment rate is estimated at 6% and inflation at 1.6%.
  • Shrinkage in the economy occurred after the big drought in 1998 and the cyclone in 2003. Approximately 7,500 jobs became redundant because of these natural disasters.
  • The economy of Fiji is also suffering because of the military coups that have taken place. Almost 61% of the skilled population has immigrated or left on working visas, due to the unstable political environment.

History

  • The Fiji Dollar was introduced in 1867 and was used until 1873.
  • In 1969, the Fiji Dollar was reintroduced.
  • In 1974, the Central Monetary Authority was appointed as the official printers of paper money.
  • In 1987, the Reserve Bank of Fiji started issuing banknotes.
  • In 1995, the $1 bill was replaced with a coin, and the $50 note was introduced.
  • In 2006, the Reserve Bank of Fiji announced the introduction of plastic-coated notes
  • In 2007, the first $100 banknote was introduced.

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