USD / JOD - US Dollar / Jordanian Dinar

USD to JOD Exchange Rate History: Tracing the Jordanian Dinar’s Stability Against the U.S. Dollar

The USD to JOD exchange rate reflects the economic policies and stability of Jordan’s currency, the Jordanian dinar (JOD), in relation to the U.S. dollar (USD). Unlike many currencies that experience significant fluctuations, the JOD has maintained a fixed exchange rate with the USD since 1995, providing a stable monetary environment for trade and investment. This article delves into the historical context of the USD/JOD exchange rate, examining key events and policies that have influenced its trajectory over the decades.​

1970s–1980s: Early Exchange Rate Policies and Economic Challenges

In the 1970s, Jordan’s economy was developing, and the dinar’s value was managed through a fixed exchange rate system. During this period, the exchange rate was approximately 1 USD to 0.291 JOD in July 1980, indicating a strong dinar relative to the dollar. However, the global economic environment, characterized by oil crises and inflation, posed challenges. Jordan’s reliance on foreign aid and remittances made its economy vulnerable to external shocks, leading to periods of economic instability.​

1990s: Transition to a U.S. Dollar Peg

The early 1990s were marked by regional tensions, including the Gulf War, which impacted Jordan’s economy through reduced trade and remittances. In response to economic challenges and to promote stability, the Central Bank of Jordan made a pivotal decision in 1995 to peg the Jordanian dinar to the U.S. dollar. This move aimed to enhance monetary stability, control inflation, and attract foreign investment. The exchange rate was fixed at approximately 1 USD to 0.709 JOD, a rate that has been maintained with minimal fluctuations since then. ​

2000s: Stability Amidst Regional Turmoil

Throughout the 2000s, Jordan faced regional challenges, including the Second Intifada and the Iraq War, which affected trade and economic growth. Despite these external pressures, the peg to the U.S. dollar provided a stable monetary environment. The fixed exchange rate helped anchor inflation expectations and facilitated international trade and investment. The Central Bank’s commitment to the peg demonstrated confidence in the dinar and contributed to economic resilience during turbulent times.​

2010s: Economic Reforms and Continued Stability

In the 2010s, Jordan implemented various economic reforms aimed at enhancing fiscal sustainability and promoting growth. The influx of refugees from neighboring conflicts placed additional strains on the economy, increasing public expenditures. Nevertheless, the fixed exchange rate regime remained intact, providing a stable backdrop for these reforms. The dinar’s peg to the U.S. dollar continued to support investor confidence and facilitated access to international financial markets.​

2020–2024: Navigating Global Challenges

The COVID-19 pandemic posed unprecedented challenges globally, and Jordan was no exception. The tourism sector, a significant contributor to the economy, faced severe downturns. Despite these challenges, the Jordanian dinar maintained its peg to the U.S. dollar, underscoring the Central Bank’s commitment to monetary stability. As of April 2025, the exchange rate remains at approximately 1 USD to 0.709 JOD, reflecting the enduring stability of the dinar. ​

✅ Key:

🟢 = Jordanian dinar appreciated vs. USD
❌ = Jordanian dinar depreciated vs. USD
⚠️ = Minimal change / Range-bound

📊 USD to JOD Exchange Rate by Decade

Note: The exchange rate has remained fixed at approximately 1 USD to 0.709 JOD since 1995, resulting in minimal changes across these decades.

The Jordanian dinar’s peg to the U.S. dollar has been a cornerstone of Jordan’s monetary policy, providing stability in a region often marked by economic volatility. This fixed exchange rate regime has facilitated trade, attracted investment, and anchored inflation expectations, contributing to the country’s economic resilience over the past several decades.