Current Status & Value
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 the 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 an 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 was 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 The old coins based on the Australian size standard were withdrawn from circulation.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 is dropping Queen Elizabeth from its coins and notes, instead opting for local flora and fauna. The new set, which is set to be unveiled on December 12, 2012 and to be issued on January 2, 2013. The new series of Fijian coins include a bi-metallic $2 coin intended to replace the note, and a thinner, reduced weight $1 coin. The new series of Fijian dollar banknotes will feature Fijian flora and fauna to replace the portrait of Queen Elizabeth II.
The Reserve Bank of Fiji Governor Savenaca Narube announced on 11 February 2006 that polymer plastic coated notes would be introduced, featuring images of local people, culture, trade and industry. The new notes, which would be ready for distribution in early 2007, would vary in size, Narube said.
In light of the political climate, a new series of notes slated for 2012 will no longer feature Queen Elizabeth, opting instead for local themes. The $2 note will also be discontinued and withdrawn and the $5 note is expected to be printed in green rather than the current tawny and brown coloration. The Fijian dollar's exchange value towards the US dollar tends to be USD 1 = (FJD 1.7 ... FJD 1.9). Note: rates vary daily.
| Current FJD exchange rates | |
|---|---|
| From Google Finance: | AUD CAD CHF EUR GBP HKD JPY USD SGD NZD |
| From Yahoo! Finance: | AUD CAD CHF EUR GBP HKD JPY USD SGD NZD |
| From XE.com: | AUD CAD CHF EUR GBP HKD JPY USD SGD NZD |
| From OANDA.com: | AUD CAD CHF EUR GBP HKD JPY USD SGD NZD |
| From fxtop.com: | AUD CAD CHF EUR GBP HKD JPY USD SGD NZD |
Read more about this topic: Fijian Dollar
Famous quotes containing the words current and/or status:
“If the current is right, one can drift to success.”
—Mason Cooley (b. 1927)
“What is clear is that Christianity directed increased attention to childhood. For the first time in history it seemed important to decide what the moral status of children was. In the midst of this sometimes excessive concern, a new sympathy for children was promoted. Sometimes this meant criticizing adults. . . . So far as parents were put on the defensive in this way, the beginning of the Christian era marks a revolution in the child’s status.”
—C. John Sommerville (20th century)