Djibouti Franc (DJF)

Djibouti Franc (DJF) is the official currency of Djibouti, a small country located in the Horn of Africa. It is issued and regulated by the Central Bank of Djibouti. The currency is named after the country itself, reflecting its sovereignty.

The Djibouti Franc is subdivided into smaller units called centimes, although they are rarely used in practice. One Djibouti Franc is equivalent to 100 centimes. However, due to inflation and the decreasing value of the centimes, they have become obsolete in everyday transactions.

The currency code for Djibouti Franc is DJF, as defined by the International Organization for Standardization (ISO). It is commonly represented by the symbol “Fdj” or “Fr”.

The Djibouti Franc has been the official currency of Djibouti since its independence from France in 1977. Prior to that, the French Franc was the official currency during the colonial period. Djibouti’s decision to establish its own currency was a significant step towards economic independence.

The exchange rate of the Djibouti Franc is determined by market forces and can fluctuate against other major currencies such as the US Dollar (USD), Euro (EUR), or British Pound (GBP). The Central Bank of Djibouti plays a role in managing the exchange rate stability and implementing monetary policies to control inflation and promote economic growth.

Djibouti’s economy is heavily dependent on its strategic location as a major gateway for international trade, particularly for landlocked countries in the region like Ethiopia. The country’s main economic sectors include port services, transportation, logistics, and financial services. Djibouti also has a growing tourism industry, attracting visitors to its unique landscapes, cultural heritage, and historical sites.

In conclusion, the Djibouti Franc (DJF) is the official currency of Djibouti. It plays a crucial role in the country’s economy and is regulated by the Central Bank of Djibouti. The currency is denoted by the ISO code DJF and is subdivided into centimes, although they are rarely used. The exchange rate of the Djibouti Franc can fluctuate against major currencies, and its value is influenced by market forces and monetary policies.