what is the jordanian dinar jod 
the jordanian dinar is the national currency of jordan and its abbreviation or currency symbol is denoted by jod the dinar has smaller denominations or subunits in particular one dinar is equal to 10 dirhams 100 qirshes and 1 000 fils the dinar is also circulated on israel s west bank understanding the jordanian dinar jod the dinar became jordan s official currency in july 1950 it replaced the palestinian pound a currency that had circulated in the british mandate of palestine and the emirate of transjordan a british protectorate since 1927 after independence the country created the jordan currency board to issue and circulate currency the jordanian dinar is considered to be the fourth highest valued currency in the world the central bank of jordan cbj took over production and monetary policy in 1959 issued dinars have the official name of the country the hashemite kingdom of jordan printed on them the current fourth series of banknotes issued by the cbj have denominations of 1 5 10 20 and 50 dinars dinarian coins were denominated in arabic until 1992 and then changed to english the dinar has been pegged to the u s dollar since 1995 special considerationsthe country of jordan pegged its local currency to the u s dollar to create stability in its financial system typically if a country s currency exchange rate fluctuates wildly it s difficult to attract foreign investment and capital flows might leave the country in search of more stable investments by pegging the dinar to the dollar jordan gets the benefit of a stable currency regime meaning its local banks are likely to attract deposits a stable currency also leads to increases in foreign direct investment fdi into jordan the gdp of jordan in 2021 it is expected to increase to 47 5 billion in 2022 by pegging to the dollar however the jordanian central bank cannot try to affect the value of its currency on the open market in response to changing economic conditions such as a recession or overheated growth likewise if the u s dollar gains or loses strength due to american economic circumstances that can change the buying power of the dinar even though the situation in the jordanian economy may be quite different jod to usd pegthe jod is pegged to the u s dollar at a fixed exchange rate 1 usd is equal to 0 7090 jods for example let s say you were sending a wire transfer to jordan and wanted to convert 1 000 to dinars the exchange would result in 709 jordanian dinars because it is pegged this exchange rate will persist over time as opposed to currencies that float in the market and so change their exchange rate over time 