The Hashemite Kingdom of Jordan is positioned at the intersection of Asia, Europe, and Africa. It is located within the Levant region on Jordan River’s East Bank. The country is tucked between Saudia Arabia, Iraq, Syria, Israel, the Dead Sea, and the West Bank of Palestine. It also has a coastline along the Gulf of Aqaba that parts the country from Egypt.
The country covers an area of 89,342 square kilometers. With a population of 10 million inhabitants, Jordan is the eleventh-most populous Arab nation. Because it has been almost untouched by the chaos in the Middle after the Arab Spring in 2010, Jordan has often been dubbed as an oasis of stability.
With inadequate supplies of water, natural resources, and oil, Jordan is one of the small-scale economies in the Middle East, relying on foreign assistance. The Jordanian government is challenged with high rates of inflation, unemployment, and poverty. When King Abdullah took over the throne in 1999, important economic reforms were implemented. These reforms include trade regime, abolishing most fuel subsidies, and privatizing government-owned companies. As a result, foreign investment came in and the economy has flourished. However, the global recession has impacted export-oriented sectors and slowed down Jordan’s growth.
The country’s official currency is the Jordanian dinar which was introduced in 1950, replacing the Palestinian pound. It is subdivided into 10 dirhams, 100 qirsh or piastres, or 1,000 fulus. The Jordanian dinar is the fourth-highest valued monetary unit in the world. The current set of banknotes is the Fourth Series issued by the Central Bank of Jordan in denominations of 1, 5, 10, 20, and 50 dinars. These banknotes feature Arab leaders and rulers of Jordan such as Hussein bin Ali, Abdullah bin al-Hussein I, Talal bin Abdullah, Hussein bin Talal, and Abdullah bin al-Hussein II.