Djiboutian Franc

The Djiboutian franc is the currency of Djibouti. It is subdivided into 100 centimes. The franc was introduced in 1949, replacing the French Somaliland franc. The franc was pegged to the US dollar at a rate of 1 dollar =49.72 francs in 1949. The peg was changed to 1 dollar = 177.7 francs in 1977. The Djiboutian franc is issued by the Central Bank of Djibouti. In 1949, coins were introduced in denominations of 1, 2, 5, 10, 20 and 50 centimes, and 1 franc. The 1 and 2 centimes were struck in bronze, with the other denominations in cupro-nickel. The 5 franc coin was scalloped, whilst the 10 and 20 franc coins were square with rounded corners. Silver coins were introduced in 1957 in denominations of 1, 2 and 5 francs. These coins were followed by cupro-nickel pieces in 1967, in the same denominations. In 1977, when the franc was devalued, new coins were introduced in denominations of 1, 2, 5, 10, 20, 50 and 100 francs. These were followed by 500 and 1000 francs in 1980. The 1 and 2 franc coins were last struck in 1987 and discontinued in 1990. The last 5 franc coins were minted in 1989. Banknotes were first issued by the Banque de la République Française de la Côte Française des Somalis in 1949 in denominations of 5, 10, 20, 50 and 100 francs. These were followed by notes of the same denominations issued by the Banque de la République de Djibouti in 1967. 500 and 1000 franc notes were introduced in 1975, followed by 5000 francs in 1977. In 1980, the Banque Centrale de la République de Djibouti took over paper money production, introducing 10,000 franc notes. The franc was devalued in 1977, with new coins and banknotes issued in 1977 and 1980. Coins in circulation are 1, 2, 5, 10, 20, 50 and 100 francs. Banknotes in circulation are 500, 1000, 5000, 10,000 and 20,000 francs.