Question

discuss the evolution of money in Jordan (developed\ developing) : (1200 words needed)

-what they use before money and after they create money

- evaluation of money

- the history of money

Answer 1

The currency's name of Jordan is "Dinar" . The Dinar go ahead to circulating in Jordan in 1949 . The Jordanian currency (Dinar) is also widely used in the Israeli shekel in the west bank .

Origins :

The dinar started using in Jordan in 1949 . In 1946 the central bank of Jordan was established and the first series of banknotes were issued in dominations of 0.5 , 1 , 5 and 10 dinar . All the dinars had the image of king Hussein engrave on them , Till 1992 , denominations in fils , qirsh and dinars were put down in Arabic , and only lils and dinar in english . Since 1992 , fils and dirhams denominations are no prolonged used . The dinar subdivided into 100 piastres or 100 fulus . Jordan is a open economy with limited industrial base and workers remittances for foreign currency resources . In the 1970s , Jordan witnessed high growth . Jordan is pegged to the United states Dollar at 0.709 JOD = 1 USD .

Dinar, monetary unit used in respective Middle Eastern countries , including Algeria , Bahrain , Iraq , Jordan , Kuwait , Libya , and Tunisia. It was first initiate as an “Islamic coinage” in the late 7th century CE by ʿAbd al-Malik , the fifth caliph (685–705) of the Umayyad dynasty . The dinar day of themonth from Roman times , when it was known as denarius.

In the middle of the countries in which the dinar is used , Iraq was the first to gain independence as a modern state . The Iraqi dinar is splited into 20 dirhams and is the identical of 1,000 fils . The Central Bank of Iraq has the sole authority to matter banknotes and coins in Iraq . Banknotes are issued in sects scoping from 250 to 50,000 dinars . Inflation largely the out-turn of wars and international economic sanctions in the 1980s and 90s saddened the purchasing power of the currency , rendering coins virtually obsolete after 1990 . However, in 2004, after the start of the Iraq War new 25- and 100-dinar coins were launched ; both were subsequently withdrawn. The fronts and backs of both banknotes and coins contain images, symbols, and text of Arab and Islamic historical significance, including the spiral minaret in Samarra and the Dokan Dam on the Little Zab River.

Middle Eastern unit of currency ; generic name of Arab gold coins , 1630s , from Arabic dinar , To beign with the name of a gold coin provided by the caliphs of Damascus , against late Greek denarion , against Latin denarius .

The idiom "dinar" is the transliteration of the Arabic term dinar , which was took via the Syriac dinara from the Greek Demarion , itself from the Latin denarius , a slight silver coin in the Ancient Roman coinage , first minted regarding 211 BC . A gold coin known as the dinara was also established to India by the Kushan Empire in the 1st century AD , and cuddled by the Gupta Empire and its successors up to the 6th century . The contemporary gold dinar is a modern bullion gold coin . Here, we are tossed the list of countries that have Dinar as currency for general consciousness.

What they use of before money and after they create money :

Before dinar , the people of Jordan used the palestinian pound as their currency . After the creation of dinar , they have been using it as their currency . After the creation of dinar , it is easy to change money in Jordan . Most major currencies are received in cash U.S. dollars , UK pounds and eurons are easier to change than Austrslian or New Zealand dollars . There are no curtailments on bringing dinars into Jordan . It is attainable to change dinars back into some foreign currencies in Jordan .

Since October 23^th 1995, the dinar was officially pegged to the IMF's special drawing rights (SDRs) , while in practice, it was fixed at 1 U.S. dollar = 0.709 dinar most of the time , which renders to roughly 1 dinar = 1.41044 dollars . The Central Bank buys United states dollars at 0.708 dinar per dollar and sells U.S. dollars at 0.710 dinar per dollar .

Evaluation of money :

After the enovation of dinar in Jordan , use of biometric platform for delivery of cash has ensured efficient delivery of cash at scale . Cash assistance has a direct relationship with the preception has a direct relationship with the perception of improved shelter and access to reliable sources of water , General expenditure and income patterns are increasing speedy among reciptants . As one of the most economies in middle east , Jordan has been adversly affected by the global and regional economic crisis . However fiscal and monetary management has minimized the effects of these external shocks on the domestic economy . .

Jordan is a small country with bounded natural resources . It depends upon external sources for most of it's energy needs . During the 1990s , it's crude petroleum needs were met through imports from Iraq and other neighbouring countries . Since 2003 , Oil has been imported from some countries of the Gulf cooperation council . Jordan always exploriry ways to expand it's limited water supply and using existing water resources more efficiently , including through regional cooperation with Israel .

• Firstly , that the self-determination of the CBI was compromised in hammer out and signing a Stand by Agreement with the IMF(International Monetary Fund) in late 2005.
• Secondly, The following the IMF(International Monetary Fund) programme in Iraq , the CBI’s administration engrossed its observation on limited instruments of monetary policy as dictated by the IMF(International Monetary Fund) , and much less on subscribed to national economic growth and leveraging poorly needed major structural changes in the economy

The history of money :

In 1949 , Coins were known or itroduces in denominations of one , five , ten , twenty , fifty and hundred fils , because in this year they introduced Dinar at pan with pound as it's currency . The first issue that of 1 fils was mistakely minted with the denomination of 1 fil . 20 fils coins were minted until 1965 , 25 fils coins were introduced in 1968 and one fourth dinar coins in 1970 . The one fils coin was last mined in 1985 . In 1992 , Coins were named in Arabic as fils , qirsh , dirham and dinar . In english only the fils and Dinar titles were used . In 1996 , Smaller one fourth dinar coins were introduced , as well as half and one dinar coins . From 1927 to 1950 , The palestine currency Board issued the pulestine pound as the official currency in both Eminate of Transjordan and mandatory palestine . After 25 may 1946 , When Jordan suited an independent kingdom , the thought of supplying a national currency arose and led to the passing of the provisional Act number of 1949 . Under this Act , the Jordan currency Board was formed which took the lead role to issue Jordanian currency in the kingdom . The Londan - based entity consisted of a prsident and four member .