The aim of the Central Bank is to maintain a stable dinar so as to enable the economy to function competitively abroad. The Jordanian Central Bank controls foreign exchange transactions as well as the exchange rate . The dinar was devalued in 1991 against the French franc, the U.S. dollar, the British pound, and the German mark in order boost exports. In an effort to maintain exchange rate stability in 1995, the dinar was pegged to a fixed ex-
|Exchange rates: Jordan|
|Jordanian dinars (JD) per US$1|
|Note: Rate has been set since 1996; since May 1989, the Jordanian dinar has been pegged to a group of currencies.|
|SOURCE: CIA World Factbook 2001 [ONLINE].|
change rate to the dollar. In mid-2001, US$1 is equal to 0.7090 JD, which means that 1 JD is equal to US$1.41.