A currency is money that is used (or has been used) as a medium of exchange.
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The piastre de commerce was the currency of French Indochina between 1885 and 1952. It was subdivided into 100 cent, each of 5 sapeque.
The name piastre, from Spanish pieces of eight (pesos), dates to the 16th century and has been used as the name of many different historical units of currency.
Prior to the arrival of the French in Indo-China in the second half of the 19th century, cash coins similar to those used in the provinces of China circulated in the area that is nowadays known as Vietnam. There was also a silver milled dragon coin and associated subsidiary coinage in circulation. The dragon coin is believed to have been in imitation of the Spanish and Mexican silver dollars which also circulated widely in the region at that time, however the dragon dollars were worth less because the fineness of the silver was less than that in the Spanish and Mexican dollars. In the region that is nowadays Cambodia and Laos, the Siamese coinage circulated and Cambodia had its own regional varieties of the Siamese Tical (Thai Baht).
The French began their Indo-Chinese empire in 1862 with Cochin-China which is the area around the Mekong delta and Saigon, and which is nowadays the extreme
The rial (in Persian: ریال; ISO 4217 code IRR) is the currency of Iran.
The name derives from the Spanish Real, which was for several centuries, the currency in Spain (derived from Spanish rey = king).
Although the "toman" is no longer an official unit of Iranian currency, Iranians commonly express amounts of money and prices of goods in "tomans." For this purpose, one "toman" equals 10 rials. Despite this usage, amounts of money and prices of goods are virtually always written in rials. For example, the sign next to a loaf of bread in a store would state the price in rials, e.g., "10,000 Rials," even though the clerk, if asked, would say that the bread costs "1,000 tomans."
There is no official symbol for the currency but the Iranian standard ISIRI 820 defined a symbol for use on typewriters (mentioning that it is an invention of the standards committee itself) and the two Iranian standards ISIRI 2900 and ISIRI 3342 define a character code to be used for it. The Unicode Standard has a compatibility character defined U+FDFC ﷼ rial sign (HTML: ﷼).
The rial was first introduced in 1798 as a coin worth 1250 dinar or one eighth of a toman. In 1825, the rial ceased to be issued,
The United States dollar (sign: $; code: USD; also abbreviated US$), also referred to as the U.S. dollar or American dollar, is the official currency of the United States of America and its overseas territories. It is divided into 100 smaller units called cents.
The U.S. dollar is the currency most used in international transactions and is one of the world's dominant reserve currencies. Several countries use it as their official currency, and in many others it is the de facto currency. It is also used as the sole currency in two British Overseas Territories, the British Virgin Islands and the Turks and Caicos islands.
The Constitution of the United States of America provides that the United States Congress shall have the power "To coin Money". Laws implementing this power are currently codified in Section 5112 of Title 31 of the United States Code. Section 5112 prescribes the forms in which the United States dollars shall be issued. Those coins are both designated in Section 5112 as "legal tender" in payment of debts. The Sacagawea dollar is one example of the copper alloy dollar. The pure silver dollar is known as the American Silver Eagle. Section 5112 also provides for the
The Malaysian ringgit (plural: ringgit; currency code MYR; formerly the Malaysian dollar) is the currency of Malaysia. It is divided into 100 sen (cents). The ringgit is issued by the Bank Negara Malaysia.
The word ringgit means "jagged" in Malay and was originally used to refer to the serrated edges of silver Spanish dollars which circulated widely in the area during the 16th and 17th century Portuguese colonial era. The Singapore dollar and the Brunei dollar are also called ringgit in Malay (although currencies such as the U.S. and Australian dollars are dolar), hence its official abbreviation RM for Ringgit Malaysia.
The Malay names ringgit and sen were officially adopted as the sole official names in August 1975. Previously they had been known officially as dollars and cents in English and ringgit and sen in Malay, and in some parts of the country this usage continues. In the northern states of Peninsular Malaysia, denominations of 10 sen are called kupang in Malay ("poat" in Hokkien), e.g. 50 sen is 5 kupang ("5 poat" in Hokkien).
On June 12, 1967, the Malaysian dollar, issued by the new central bank, Bank Negara Malaysia, replaced the Malaya and British Borneo dollar at par.
The leu (ISO 4217 code MDL) is the currency of Moldova. Like the Romanian leu, the Moldovan leu (pl. lei) is subdivided into 100 bani (singular: ban). The name of the currency originates in Romania and means "lion".
Between 1918 and 1940 and again between 1941 and 1944, when Moldova was part of Romania, the Romanian leu was used also in the eastern part of Moldavia. The Moldovan leu was established on 29 November 1993, following the collapse of the Soviet Union and the creation of the independent republic of Moldova. It replaced the older cupon currency at a rate of 1 leu = 1000 cupon.
In Transnistria, a partially recognized state claimed in whole by Moldova, the Transnistrian ruble is used instead.
Coins consist of 1, 5, 10, and 25 bani in aluminium and 50 bani in aluminium-bronze. Aluminium 50 bani, and nickel-plated-steel 1 and 5 leu coins were issued in 1993 but have been withdrawn from circulation.
There have been two series of Moldovan leu banknotes. The first series was short-lived and only included 1, 5, and 10 lei. The front of all of these notes—and all subsequent notes—feature a portrait of Ştefan cel Mare (Stephen the Great, also known as Stephen III of Moldavia), the
The currencies of Puerto Rico closely follow the historic development of Puerto Rico. As a colony of Spain and the United States, Puerto Rico was granted the use of both foreign and provincial currencies. Following the Spanish colonization in 1502, Puerto Rico became an important port, with its own supply of gold. However, as the mineral reserves ran empty within the century, the archipelago's economy suffered. The Spanish Crown issued the Situado Mexicano, which meant that a semi-regular shipment of gold from the Viceroyalty of New Spain would be sent to the island, as a way to provide economic support. Between 1636 and 1637, Philip IV of Spain imposed a tax which had to be paid using a revenue stamp. Inspired by this, Puerto Rico began producing banknotes in 1766, becoming the first colony to print 8-real banknotes in the Spanish Empire and which in the Spanish government's approval of subsequent issues.
The situado was discontinued during the 19th century, creating an economic crisis, as a result of Mexico gaining its independence from Spain. Salvador Meléndez Bruna, the colonial governor in office, ordered the issue of provincial banknotes, creating the Puerto Rican peso.
The karbovanets (Ukrainian: карбованець, karbovanets, plural: карбованці, karbovantsi for 2–4, or карбованців, karbovantsiv for 5 or more) has been a distinct unit of currency in Ukraine during three separate periods. The name is also used in the Ukrainian language for the Imperial ruble and the Soviet ruble, but not for the modern Russian ruble.
(17 March 1917 - 29 April 1918) In March 1917 in Kiev some political parties formed the Central Rada which proclaimed on November 20, 1917 the foundation of the Ukrainian People's Republic.
And by just December 19 of the same year, a temporary law about the issue of state banknotes by the UPR was adopted. According to this law: "Bank-notes must be issued in karbovanets" (Ukrainian: Карбованець). Each karbovanets contains 17.424 parts of pure gold and is divided into two hrivnas Ukrainian: Гривня or 200 shahs (Ukrainian: Шаг).
The etymology of the name "karbovanets" is debatable: by one supposition it originated in Ukraine from the ancient primitive way to carve (karbuvaty, Ukrainian: Карбувати) numbers of calculations on a rod, and by another supposition -from the carving (incision) on a rim of a metal rouble.
On January 5, 1918 the first
The pound, also known as the lira (Greek: λίρα / plural λίρες and Turkish: lira, from the Latin libra through the Italian lira), was the currency of Cyprus, including the Sovereign Base Areas in Akrotiri and Dhekelia, until 31 December 2007, when the Republic of Cyprus (and Malta) adopted the euro. However, the self-proclaimed Turkish Republic of Northern Cyprus used and still uses on the official level the Turkish lira.
The Cyprus pound was replaced by the euro as official currency of the Republic of Cyprus on 1 January 2008 at the irrevocable fixed exchange rate of CYP 0.585274 per EUR 1.00.
The British introduced the pound sterling unit to Cyprus in 1879 at a rate of one to 180 Turkish piastres. It remained equal in value to the pound sterling until 1972 and was initially divided into 20 shillings (σελίνι / σελίνια, şilin). The shilling was divided into 9 piastres (γρόσι / γρόσια, kuruş), thus establishing a nomenclature link to the previous currency. The piastre was itself divided into 40 para (like the kuruş). The para denomination did not appear on any coins or banknotes but was used on postage stamps.
In 1955, Cyprus decimalized with 1000 mils (μιλς, mil) to the pound.
The franc (Arabic: فرنك) was the currency of French Morocco from 1921. It became the currency of all Morocco in 1957 and circulated until 1974. It was divided into 100 centimes (Arabic: سنتيم).
Before the first World War, the Moroccan rial was worth 5 French francs. However, after the war, the franc's value fell, such that when the franc replaced the rial, it was at a rate of 10 francs = 1 rial. The Moroccan franc was equal in value to the French franc. When Spanish Morocco was united with the rest of Morocco, the franc replaced the Spanish peseta at a rate of 1 peseta = 10 francs.
In 1960, the dirham was introduced. It was subdivided into 100 francs. The franc was replaced as the subdivision of the dirham by the santim in 1974.
In 1921, coins were introduced under the reign of Yusuf, in denominations of 25 and 50 centimes and 1 franc. The 25 centimes is a holed, cupro-nickel coin, and comes with three Privy mark varieties: no privy mark, minted in 1921 at Paris, thunderbolt privy mark minted in 1924 at Poissy, and thunderbolt and torch privy marks minted in 1924 at Poissy. The 50 centimes and franc were both minted in 1921 in Paris, and in 1924 at Poissy with the thunderbolt
The escudo (Portuguese pronunciation: [ɨʃˈkudu], shield; sign : or ; code: PTE) was the currency of Portugal prior to the introduction of the Euro on 1 January 1999 and its removal from circulation on 28 February 2002. The escudo was subdivided into 100 centavos.
Amounts in escudos were written as escudos centavos with the cifrão as the decimal separator (e.g. 25$00 means 25, 100$50 means 100 and 50 centavos). Because of the conversion rate of 1000 réis = 1, three decimal places were initially used (1 = 1$000).
The escudo was introduced on 22 May 1911, after the 1910 Republican revolution, to replace the real at the rate of 1,000 réis to 1 escudo. The term mil réis (thousand réis) remained a colloquial synonym of escudo up to the 1990s. One million réis was called one conto de réis, or simply one conto. This expression passed on to the escudo, meaning 1,000.
The escudo's value was initially set at 675$00 = 1 kg of gold. After 1914, the value of the escudo fell, being fixed in 1928 at 108$25 to the pound. This was altered to 110$00 to the pound in 1931. A new rate of 27$50 escudos to the U.S. dollar was established in 1940, changing to 25$00 in 1940 and 28$75 in
The đồng was the currency of the Republic of Vietnam (South Vietnam) from 1953 to May 2, 1978. It was subdivided into 100 xu, also written su.
In 1953, the Vietnam branch of the Institut d'Emission des Etats du Cambodge, du Laos et du Vietnam issued notes dual denominated in piastre and đồng. At the same time, the two other branches of the Bank made similar issues with the riel in Cambodia and the kip in Laos. The đồng circulated in those parts of Vietnam not under the control of the Communist forces, which by 1954 coincided with South Vietnam. Coins denominated in su were also introduced in 1953. In 1955, a truly independent issue of đồng banknotes was produced by the National Bank of Vietnam.
In 1953, 10, 20 and 50 su coins were introduced. In 1960, 1 đồng were added, followed by 10 đồng in 1964, 5 đồng in 1966 and 20 đồng in 1968. 50 đồng were minted dated 1975 but they were never shipped to Vietnam due to the fall of the South Vietnamese government. It is reported that all but a few examples were "disposed of as scrap metal" and the coin is very rare.
The coins issued can be roughly classified into five series:
In 1953, notes (dated 1952) were introduced by the Institut
The Zimbabwean dollar (sign: $, or Z$ to distinguish it from other dollar-denominated currencies) was the official currency of Zimbabwe from 1980 to 12 April 2009.
Although the dollar was considered to be among the highest-valued currency units when it was introduced in 1980 to replace the Rhodesian dollar at par, political turmoil and hyperinflation rapidly eroded the value of the Zimbabwe dollar to become one of the least valued currency units in the world, undergoing three redenominations, with high face value paper denominations including a $100 trillion banknote (10). The third redenomination produced the "fourth dollar" (ZWL) which was worth 1 trillion ZWR (third dollar) and 10 septillion "first dollar" ZWD, so overall the ratio of the redenominations was 10 × 10 × 10 = 10.
Despite attempts to control inflation by legislation, and three redenominations (in 2006, 2008 and 2009), use of the Zimbabwean dollar as an official currency was effectively abandoned on 12 April 2009. This was a result of the Reserve Bank of Zimbabwe legalising use of foreign currencies for transactions in January 2009.
Currencies such as the South African rand, Botswana pula, pound sterling, euro, and
The pula is the currency of Botswana. It has the ISO 4217 code BWP and is subdivided into 100 thebe. Pula literally means "rain" in Setswana, because rain is very scarce in Botswana - home to much of the Kalahari Desert - and therefore valuable. Pula also means "blessing" as rain is considered a blessing. Thebe means "shield".
The pula was introduced in 1976, replacing the South African rand at par. Despite a 12% devaluation in May 2005, the pula remains one of the strongest currencies in Africa.
In 1976, coins were introduced in denominations of 1, 5, 10, 25 and 50 thebe and 1 pula. The 1 thebe was struck in aluminium, with the 5 thebe in bronze and the others in cupro-nickel. These coins were round except for the scalloped 1 pula. Bronze, dodecagonal 2 thebe coins were introduced in 1981, but discontinued after 1985. In 1991, bronze-plated steel replaced bronze in the 5 thebe, nickel-plated steel replaced cupro-nickel in the 10, 25 and 50 thebe and the 1 pula changed to a smaller, nickel-brass, equilateral-curve seven-sided coin. A similarly shaped, nickel-brass 2 pula was introduced in 1994. In 2004, the composition was changed to brass-plated steel and the size was slightly
The Thaler (or Taler or Talir) was a silver coin used throughout Europe for almost four hundred years. Its name lives on in various currencies as the dollar or tolar. Etymologically, "Thaler" is an abbreviation of "Joachimsthaler", a coin type from the city of Joachimsthal (Jáchymov) in Bohemia, where some of the first such coins were minted in 1518. (Tal is German for "valley". A "thaler" is a person or a thing "from the valley". In the 1902 spelling reform, the German spelling was changed from "Thal" and "Thaler" to "Tal" and "Taler", which, however, did not affect the spelling of "Thaler" in the English language.)
The roots and development of the Thaler-sized silver coin date back to the mid-15th century. As the 15th century drew to a close the state of much of Europe's coinage was quite poor because of repeated debasement induced by the costs of continual warfare, and by the incessant centuries-long loss of silver and gold in indirect one-sided trades importing spices and porcelain and silk and other fine cloths and exotic goods from India, Indonesia and the Far East. This continual debasement had reached a point that silver content in Groschen-type coins had dropped, in some
The srang (pronounced "sang"; in Tibetan often referred to as "dngul srang" i.e. "silver srang") was a currency of Tibet between 1909 and 1959. It circulated alongside the tangka until the 1950s. It was divided into 10 sho, each of 10 skar, with the tangka equal to 15 skar (1 srang = 6⅔ tangka).
Originally the srang was a weight unit, particularly to weigh silver and gold. It was equivalent to the Chinese liang (tael), i.e. to about 37.5 grams.
The srang first appeared as a silver coin in 1909 when Tibet began issuing a variety of denominations rather than only issuing the tangka. These 1 srang silver coins of 18.5 g were minted at Dode. The 1 srang coins were struck till 1919. Silver 1½ srang coins of 5 g were struck in Tapchi mint between 1936 and 1938 and again in 1946. Silver 3 srang coins of 11.3 g were struck in Tapchi mint between 1933 and 1938 and again in 1946. Billon coins of 10 srang were issued from Dogu mint between 1948 and 1952. Gold coins of 20 srang were struck in Ser-Khang mint between 1918 and 1921. In 1939 the first Tibetan banknotes appeared denominated in srang (notes of 100 "tam srang"; later the denomination was changed from "tam srang" to "srang").
The peso is the currency of Colombia. Its ISO 4217 code is COP and it is also informally abbreviated as COL$. However, the official peso symbol is $. As 20 July 2011, the exchange rate of the Colombian peso is 1750 Colombian pesos to 1 U.S. dollar.
The peso has been the currency of Colombia since 1810. It replaced the real at a rate of 1 peso = 8 reales and was initially subdivided into 8 reales. In 1847, Colombia decimalized and the peso was subdivided into ten reales, each of 10 decimos de reales. The real was renamed the decimo in 1853, although the last real coins were struck in 1880. The current system of 100 centavos to the peso was first used in 1819 on early banknotes but did not reappear until the early 1860s on banknotes and was not used on the coinage until 1872.
In 1871, Colombia went on to the gold standard, pegging the peso to the French franc at a rate of 1 peso = 5 francs. This peg only lasted until 1886. From 1888, printing press inflation caused Colombia's paper money (pegged to the British pound at a rate of 5 pesos = 1 pound) to depreciate and the exchange rate between coins and paper money was fixed at 100 peso moneda corriente = 1 coinage peso. Between 1907
The birr (Amharic: ብር) is the unit of currency in Ethiopia. Before 1976, dollar was the official English translation of birr. Today, it is officially birr in English as well.
In 1931, the Emperor of Ethiopia, Haile Selassie I, formally requested that the international community use the name Ethiopia (as it had already been known internally for at least 1600 years) instead of Abyssinia, and the issuing Bank of Abyssinia also became the Bank of Ethiopia. Thus, the pre-1931 currency could be considered the Abyssinian birr and the post-1931 currency the Ethiopian birr, although it was the same country and the same currency before and after.
The Ethiopian Birr is the second-most-used currency in Africa with 88 million users, after the Nigerian naira. 186 billion birr were in circulation in 2008 ($14.7 billion or €9.97 billion).
In the 18th and 19th centuries, Maria Theresa thalers and blocks of salt called "amole tchew" (አሞሌ ጨው) served as currency in Ethiopia. The thaler was known locally as the Birr (literally meaning "silver" in Ge'ez and Amharic) or ታላሪ taleri. The Maria Theresa thaler was officially adopted as the standard coin in 1855, although the Indian rupee and the Mexican
The Asian Currency Unit (ACU) is a proposed weighted index of currencies for ASEAN+3. The ACU was inspired by the now defunct European Currency Unit, replaced by the Euro. The Asian Currency Unit's purpose is to help stabilize the region's financial markets.
ASEAN+3 is composed of the member countries of ASEAN, the People's Republic of China, Japan, and Republic of Korea.
The ACU as it is proposed is a currency basket and not a real currency , i.e., a weighted index of East Asian currencies that will function as a benchmark for regional currency movements.
The Asian Development Bank is currently reviewing different options concerning the technical aspects related to the ACU calculation, including the nature of the basket, the choice of fixed weights vs. fixed units, the selection of currencies to be included in the basket, the choice of weights, the criteria for their periodical revision, and other aspects as well.
The Asian Development Bank was to announce the details of the ACU in March 2006 or later. However external pressures delayed this announcement although the concept was still being studied in detail. A panel discussion in February 2007 cited technical and political
The Thaler was the currency of the Swiss canton of Berne until 1798. It was subdivided into 40 Batzen, each of 4 Kreuzer. It was replaced by the Frank of the Helvetian Republic in 1798. This was, in turn, replaced by the Berne Frank in the canton Bern, and by the Vaud franc in the canton Vaud.
In the late 18th century, billon coins were issued in denominations of ½ and 1 Kreuzer, ½ and 1 Batzen, together with silver 10 and 20 Kreuzer, ¼, ½ and 1 Thaler, and gold ½, 1 and 2 Duplone. The ½ Kreuzer coins were inscribed as 1 Vierer.
Drachma, pl. drachmae or drachmas (δραχμή, Greek pronunciation: [ðraxˈmi], pl. δραχμαί or δραχμές) was the currency used in Greece during several periods in its history:
It was also a small weight unit.
The name drachma is derived from the verb δράσσομαι (drássomai, "to grasp"). It is believed that the same word with the meaning of "handful" or "handle" is found in Linear B tablets of the Mycenean Pylos. Initially a drachma was a fistful (a "grasp") of six oboloí or obeloí (metal sticks, literally "spits") used as a form of currency as early as 1100 BC and being literally a form of "bullion": bronze, copper, or iron ingots denominated by weight. A hoard of over 150 rod-shaped obeloi were uncovered at Heraion of Argos in Peloponnese. Six of them are displayed at the Numismatic Museum of Athens.
It was the standard unit of silver coinage at most ancient Greek and Roman mints, and the name 'obol' was used to describe a coin that was one-sixth of a drachma. The notion that "drachma" derived from the word for fistful was recorded by Herakleides of Pontos (387-312 BC) who was informed by the priests of Heraion that Pheidon, king of Argos, dedicated rod-shaped obeloi to Heraion. Similar
The rupia was the currency of Portuguese India until 1958.
Before 1871, the rupia was subdivided into 750 bazarucos, 600 réis (singular: real), 20 pardaus or 10 tangas, with the xerafim worth 2 rupias. After 1871, 960 réis or 16 tangas (worth 60 réis) equalled 1 rupia. The rupia was equal in value to the Indian rupee. This meant the tanga was equal in value to the Indian anna. In 1958, the currency was replaced by the escudo at the rate of 1 rupia = 6 escudos.
Goa, Damão and Diu issued their own coinages until the middle of the 19th century. Damão issued copper 3, 15, 30 and 60 réis coins until 1854 when the mint closed. Diu issued lead and tin 5 and 10 bazarucos together with tin 20 bazarucos, copper 30 and 60 réis and silver 150 and 300 réis and 1 rupia. The Diu mint closed in 1859.
Goa issued the most diverse coinage of the three mints. In addition to tin bastardo, there were copper coins in denominations of 3, 4½, 6, 7½, 9, 10, 12 and 15 réis, ½ and 1 tanga, silver coins for ½ and 1 tanga, ½ and 1 pardau, and 1 rupia, and gold 1, 2, 4, 8 and 12 xerafins. The Goa mint was closed by the British in 1869.
Following the closure of the last local mint, coins were imported from
The baht (Thai: บาท, sign: ฿; code: THB) is the currency of Thailand. It is subdivided into 100 satang (สตางค์). The issuance of currency is the responsibility of the Bank of Thailand.
The thai baht, like the pound, originated from a traditional unit of mass. Its currency value was originally expressed as that of silver of corresponding weight (now defined as fifteen grams), and was in use probably as early as the Sukhothai period in the form of bullet coins known in Thai as phot duang (Thai: พดด้วง). These were pieces of solid silver cast to various weights corresponding to a traditional system of units related by simple fractions and multiples, one of which is the baht. These are listed in the following table:
The above system was in use up until 1897, when the decimal system devised by Prince Mahisorn, in which one baht = 100 satang, was introduced by king Chulalongkorn. However, coins denominated in the old units were issued until 1910, and the amount of twenty-five satang is still commonly referred to as a salueng, as is the twenty-five satang coin.
Until November 27, 1902, the baht was fixed on a purely silver basis, with 15 grams of silver to the baht. This caused the value
The Liechtenstein krone (German Liechtenstein Krone, plural Kronen) was the currency of Liechtenstein from 1898 to 1921. The coins are rare, although the banknotes are somewhat more common. The krone was divided into 100 heller. Liechtenstein used the Austro-Hungarian krone and Austrian krone after the dissolution of the Austro-Hungarian Empire in 1918, and then switched to the Swiss franc in 1921 due to krone's instability. The Liechtenstein krone had the same amount of precious metal as the Austro-Hungarian krone or the Austrian krone. Coins came in values of 1, 2, 5, 10, 20 kronen. In 1920, small-change notes denominated in 10, 20, and 50 heller were issued as an emergency measure to supplement the coins then available.
The dirham (Arabic: درهم, plural: دراهم) is the currency of Morocco. The plural form is pronounced darahim, although in French and English "dirhams" is commonly used. Its ISO 4217 code is "MAD". It is subdivided into 100 santimat (singular: santim, Arabic singular: سنتيم, plural: سنتيما or سنتيمات). The dirham is issued by the Bank Al-Maghrib, the central bank of Morocco. It is also the de facto currency in Western Sahara. While the dirham is a fully convertible currency, export of the local currency is prohibited by law, but seldom controlled.
Before the introduction of a modern coinage in 1882, Morocco issued copper coins denominated in falus, silver coins denominated in dirham & gold coins denominated in benduqi. From 1882, the dirham became a subdivision of the Moroccan rial, with 50 Mazunas = 10 dirham = 1 rial.
When Morocco became a French protectorate in 1921 it switched to the Moroccan franc. The dirham was reintroduced in 1960. It replaced the franc as the major unit of currency but, until 1974, the franc continued to circulate, with 1 dirham = 100 francs. In 1974, the santim replaced the franc.
In 1960, silver 1 dirham coins were introduced. These were followed by nickel
The rigsdaler was the unit of currency used in Norway until 1816 and in Denmark until 1873. The similarly named Reichsthaler, riksdaler and rijksdaalder were used in Germany and Austria-Hungary, Sweden and the Netherlands, respectively.
During the political union between Denmark and Norway, Danish currency circulated alongside Norwegian. Norway itself issued currency denominated in two different rigsdaler, the rigsdaler courant and the rigsdaler specie, with 96 skilling to the rigsdaler courant and 120 skilling to the rigsdaler specie.
In 1816, following the establishment of the union between Sweden and Norway, the rigsdaler specie was renamed the speciedaler and became the standard unit of currency in Norway.
In the late 18th and early 19th centuries, coins were issued in denominations of 1, 2, 4, 8 and 24 skilling, ⁄15, ⁄5, ⅓, ½, ⅔ and 1 rigsdaler specie.
In 1695, government notes were issued for 10, 20, 25, 50 and 100 rigsdaler (spelt rixdaler). In 1807, notes were reintroduced by the government, in denominations of 1, 5,10 and 100 rigsdaler courant, with 12 skilling notes added in 1810. In 1813, Norges Rigsbanken began issuing notes. Denominations were for 3, 6, 8 and 16
The real ( /reɪˈɑːl/; Brazilian Portuguese: [ʁeˈaw]; pl. reais) is the present-day currency of Brazil. Its sign is R$ and its ISO code is BRL. It is subdivided into 100 centavos ("hundredths").
The modern real was introduced in 1994 as part of the Plano Real, a substantial monetary reform package that aimed to put an end to three decades of rampant inflation. At the time it was meant to have approximately fixed 1:1 exchange rate with the United States dollar. It suffered a sudden devaluation to a rate of about 2:1 in 1999, reached almost 4:1 in 2002, then partly recovered and has been approximately 2:1 since 2006. The exchange rate as of June 15, 2012 is BRL 2.05 to USD 1.00.
In Portuguese the word real means both "royal" and "real". The name of the historic real derived from the first sense. The name of the modern currency is generally understood to refer both to the historic unit and to the second sense.
The dollar-like sign (cifrão) in the currency's symbol (both historic and modern), and in all the other past Brazilian currencies, is officially written with two vertical strokes () rather than one. However Unicode considers the difference to be only a matter of font design, and
The Schilling was the currency of Austria from 1924 to 1938 and from 1945 to 1999, and the circulating currency until 2002. The euro was introduced at a fixed parity of €1 = 13.7603 schilling to replace it. The schilling was divided into 100 Groschen.
The Schilling was established by the Schilling Act (Schillingrechnungsgesetz) of December 20, 1924 at a rate of 1 Schilling to 10,000 Austro-Hungarian Kronen and issued on March 1, 1925. The Schilling was abolished in the wake of the Anschluss (1938), when it was exchanged at a rate of 2 German Reichsmark to 3 Schilling.
The Schilling was reintroduced after World War II on November 30, 1945 by the Allied Military, who issued paper money (dated 1944) in denominations of 50 Groschen up to 100 Schilling. The exchange rate to the Reichsmark was 1:1, limited to 150 Schilling per person. The Nationalbank also began issuing Schilling notes in 1945 and the first coins were issued in 1946.
With a second "Schilling" law on November 21, 1947, new banknotes were introduced. The earlier notes could be exchanged for new notes at par for the first 150 Schilling and at a rate of 1 new Schilling for 3 old Schilling thereafter. Coins were not affected
The rupee is the currency of the Seychelles. It is subdivided into 100 cents. In the local Seychellois Creole (Seselwa) language, it is called the roupi. The international currency code is SCR. The abbreviations SR and SRe are sometimes used.
The Seychellois, or Seychelles Rupee was introduced in 1914, coinciding with the global economic impact of World War I. Initially in banknote form only, The Seychellois Rupee circulated alongside and was equal to the Mauritian rupee, which had circulated in the Seychelles since 1877. The Mauritian rupee had replaced sterling, which had circulated since 1810. Only in 1939 were coins introduced specifically for use in the Seychelles.
Until 2008, the value of the Seychelles rupee was tied to a currency basket comprising 59 percent Euros, 31 percent British Pounds, and 10 percent U.S. Dollars. The currency was freely floated on November 2, 2008, promptly sinking 43% to 19.97 per euro on the first day of trading.
Prior to 1939, Mauritius coinage circulated in the Seychelles, even though the islands had been politically autonomous of Mauritius since 1903 as a crown colony of Great Britain.
In 1939, coins in denominations of 10 and 25 cents, ½ and 1
The rijksdaalder (Dutch, "national dollar") was a Dutch coin first issued by the Republic of the Seven United Netherlands in the late 16th century during the Dutch Revolt. Featuring an armored half bust of the William the Silent, rijksdaalder was minted to the Saxon reichsthaler weight standard - 448 grains of .885 fine silver. Friesland, Gelderland, Holland, Kampen, Overijssel, Utrecht, West Friesland, Zeeland, and Zwolle minted armored half bust rijksdaalders until the end of the 17th century.
17th century rijksdaalder was set to be equal to from 48 to 50 stuivers (the Dutch equivalent of shillings) and circulated along with silver florins (28 stuivers), daalders (30 stuivers), leeuwendaalders (36 to 42 stuivers), silver ducats (48 stuivers), and ducatons (60 stuivers). While liondaalders were made of less pure silver at 427.16 grain of .750 fineness, silver ducats and rijksdaalders were almost of the same size and quality. With the disappearance of the original armored half bust rijksdaalder design, silver ducats and later 2½ guilders were started to be called rijksdaalders.
Unification of the Dutch monetary system in the beginning 18th century introduced guilder and set
The Roman scudo (plural: scudi romani) was the currency of the Papal States until 1866. It was subdivided into 100 baiocchi (singular: baiocco), each of 5 quattrini (singular: quattrino). Other denominations included the grosso of 5 baiocchi, the carlino of 7½ baiocchi, the giulio and paoli both of 10 baiocchi, the testone of 30 baiocchi and the doppia of 3 scudi.
In addition to issues for the Papal States as a whole, the currency was also issued by many of the individual municipalities. In the late 18th century, this included issues from Ancona, Ascoli, Bologna, Civitavecchia, Fano, Fermo, Foligno, Gubbio, Macerata, Matelica, Montalto, Pergola, Perugia, Ronciglione, San Severino, Spoleto, Terni, Tivoli and Viterbo. Uniquely in Bologna the baiocco, also known as the bolognino, was subdivided into 6 quattrini.
Between 1798 and 1799, the revolutionary French forces established the Roman Republic, which issued coins denominated in baiocco and scudo. In addition, the municipalities of Ancona, Civitavecchia, Clitunno, Foligno, Gubbio, Pergola and Perugia issued coins in the name of the Roman Republic.
In 1808, the Papal States were annexed by France, and the French franc circulated
The Somali shilling (sign: Sh.So.; Somali: shilin; Arabic: شلن; Italian: scellino; ISO 4217 code: SOS) is the official currency of Somalia. It is subdivided into 100 senti (Somali, also سنت), cents (English) or centesimi (Italian).
The shilling has been the currency of parts of Somalia since 1921, when the East African shilling was introduced to the former British Somaliland protectorate. Following independence in 1960, the somalo of Italian Somaliland and the East African shilling (which were equal in value) were replaced at par in 1962 by the Somali shilling. Names used for the denominations were cent, centesimo (plural: centesimi) and سنت (plurals: سنتيمات and سنتيما) together with shilling, scellino (plural: scellini) and شلن.
On 15 December 1962, the Banca Nazionale Somala (National Bank of Somalia) issued notes denominated as 5, 10, 20 and 100 scellini/shillings. In 1975, the Bankiga Qaranka Soomaaliyeed (Somali National Bank) introduced notes for 5, 10, 20 and 100 shilin/shillings. These were followed in 1978 by notes of the same denominations issued by the Bankiga Dhexe Ee Soomaaliya (Central Bank of Somalia). 50 shilin/shillings notes were introduced in 1983, followed by
The Soviet ruble or rouble (Russian: рубль; see below for other languages of the USSR) was the currency of the Soviet Union. One ruble is divided into 100 kopeks, (also transliterated as kopecks or copecks Russian: копе́йка, pl. копе́йки - kopeyka, kopeyki).
In addition to standard banknotes, the Soviet ruble was available in the form of foreign rubles (Russian: инвалютный рубль); also, several forms of virtual rubles were used for inter-enterprise accounting and international settlement in the Comecon zone. Many of the ruble designs were created by Ivan Dubasov.
The word "ruble" is derived from the Slavic verb рубить, rubit', i.e., to chop. Historically, "ruble" was a piece of a certain weight chopped off a silver ingot (grivna), hence the name.
The Soviet currency had its own name in all Soviet languages, sometimes quite different from its Russian designation. All banknotes had the currency name and their nominal printed in the languages of every Soviet Republic. This naming is preserved in modern Russia; for example: Tatar for ruble and kopek are sum and tien. The current names of several currencies of Central Asia are simply the local names of the ruble. Finnish last appeared
The sterling area formally came into existence at the outbreak of World War II. It was a wartime emergency measure which involved cooperation in exchange control matters between a group of countries, which at the time were mostly dominions and colonies of the British Empire (later the Commonwealth). These countries either used sterling as their currency, or else their own currency was pegged to the British pound; even member countries with their own currency held large sterling balances in London for the purposes of conducting overseas trade. The purpose of the sterling area was to protect the external value of the pound sterling. All of the British Empire except for Canada, Newfoundland and Hong Kong joined the sterling area in 1939.
The significance of the sterling area was seriously diminished in June 1972 when the British government (in consultation with the Irish, Manx, and Channel Islands governments) unilaterally applied exchange controls to the other sterling area countries with the exception of Ireland, the Isle of Man and the Channel Islands.
The sterling area did not cease to exist on a specific date, but disappeared in phases between June 1972 and 1979. Ireland
The dinar (Arabic: دينار, ISO 4217 currency code: TND) is the currency of Tunisia. It is subdivided into 1000 milim or millimes (مليم). The abbreviation DT is often used in Tunisia, although writing "dinar" after the amount is also acceptable (TND is less colloquial, and tends to be used more in financial circles); the abbreviation TD is also mentioned in a few places, but is less frequently used, given the common use of the French language in Tunisia, and the French derivation of DT (i.e., Dinar tunisien).
The dinar was introduced in 1960, having been established as a unit of account in 1958. It replaced the franc at a rate of 1000 francs = 1 dinar. The dinar did not follow the devaluation of the French franc in 1958, resulting in the exchange rate being abandoned. Instead a peg to the United States dollar of 0.42 dinar = 1 dollar was established which was maintained until 1964, when the dinar devalued to 0.525 dinar = 1 dollar. This second rate was held until the dollar was devalued in 1971.
Tunisia had a historically low inflation. The Dinar was less volatile in 2000-2010 than the currencies of its oil-importing neighbors, Egypt and Morocco. Inflation was 4.9% in fiscal year
The pound was the currency of Connecticut until 1793. Initially, the British pound circulated along with foreign currencies. This was supplemented by local paper money from 1709. Although the local currency was denominated in pounds, shillings and pence, it was worth less than sterling, with 1 Connecticut shilling = 9 pence sterling. This rated the Spanish dollar at 6 Connecticut shillings (compared to 4 shillings 6 pence sterling). The first issue of notes is known as the "Old Tenor" issue.
Due to over issue, the value of the Old Tenor notes fell relative to silver coins. In 1740, a second series of paper money was introduced, known as the "New Tenor" issue. These were worth 3½ times as much as the same denomination of Old Tenor notes. A further issue of 1755, known as "Lawful Money", replaced the Old and New Tenor issues at the rates of 1 Lawful Money shilling = 2.1 New Tenor shillings = 7.33 Old Tenor shillings.
The State of Connecticut issued Continental currency denominated in both £sd and Spanish dollars, with 1 Spanish dollar = 6 shillings. The Continental currency was replaced by the U.S. dollar at the rate of 1000 Continental dollars = 1 U.S. dollar.
Louis Jordan. Colonial
The mon (文) was a currency of Japan from the Muromachi period in 1336, until 1870. The Chinese character for mon is 文 and the character for currency was widely used in the Chinese-character cultural sphere, e.g. Chinese wen and Korean mun. Coins denominated in mon were cast in copper or iron and circulated alongside silver and gold ingots denominated in shu, bu and ryō, with 4000 mon = 16 shu = 4 bu = 1 ryo. The yen replaced these denominations in 1870. However, its usage continued at least into 1871, as the first Japanese stamps, issued in that year, were denominated in mon.
Mon coins were holed, allowing them to be strung together on a piece of string.
In 1695, the shogunate placed the Japanese character gen (元) on the obverse of copper coins.
Through Japanese history, there were many different styles of currency of many shapes, styles, designs, sizes and materials, including gold, silver, bronze, etc. Even rice was once a currency, the koku.
A Rappen (pl. Rappen) originally was a variant of the medieval Pfennig ("penny") common to the Alemannic German regions Alsace, Sundgau and Northern Switzerland. As with other German pennies, its half-piece was a Haller, the smallest piece which was struck.
Today, one-hundredth of a Swiss franc is still officially called a Rappen in German and Swiss German. In French speaking Switzerland, the modern Swiss coins are called centime and "centimes", in Italian speaking Switzerland, centesimo and "centesimi" respectively.
The origin of the term can be traced back to the Rappenpfennig, a form of the penny minted in Freiburg im Breisgau in the 13th century featuring an eagle, which later on was interpreted to depict a raven (German "Rabe"; the word is thus a cognate of its German homophone "Rappen" referring to a "raven"-black horse). Due to the coin's wide circulation in the Upper Rhine region, it was adopted as standard currency in the so-called Rappenbund ("Rappen federation"), a union of regional mints formed in 1399 that included the Bishop of Basel and most of the region's larger cities. After the dissolution of the Rappenbund in 1584, a number of Swiss states continued to mint
The silver real (Spanish: real de plata) was the currency of the Spanish colonies in the Americas and the Philippines. In the seventeenth century the silver real was established at two billon reals (reales de vellón) or sixty-eight Spanish maravedís. Gold escudos (worth 16 reales) were also issued. The coins circulated throughout Spain's colonies and beyond, with the eight-real piece, known in English as the Spanish dollar, becoming an international standard and spawning, among other currencies, the United States dollar. A reform in 1737 set the silver real at two and half billon reals or eighty-five maravedís. This coin, called the real de plata fuerte, became the new standard, issued as coins until the early 19th century. The gold escudo was worth 16 reales de plata fuerte.
Coins were produced at mints in Bogotá, Caracas, Guatemala City, Lima, Mexico City, Popayán, Potosí, Santo Domingo and Santiago. For details, see the:
After the independence of Spain's colonies, the real was replaced by currencies also denominated in reales and escudos, including the Argentine real, Central American Republic real, Ecuadorian real, Honduran real, Paraguayan real and Santo Domingo real.
The lari (Georgian: ლარი; ISO 4217:GEL) is the currency of Georgia. It is divided into 100 tetri. The name lari is an old Georgian word denoting a hoard, property, while tetri is an old Georgian monetary term used from the 13th century.
Earlier Georgian currencies include the maneti and abazi.
Georgia replaced the Russian ruble on 5 April 1993 with kupon lari at par. This currency consisted only of banknotes, had no subdivisions and suffered from hyperinflation. Notes were issued in denominations between 1 and 1 million lari, including the somewhat unusual 3, 3000, 30,000 and 150,000 lari.
On October 2, 1995, the government of Eduard Shevardnadze replaced the provisional coupon currency with the lari, at a rate of one million to one. It has remained fairly stable since then.
Coins are issued in denominations of 1, 2, 5, 10, 20 & 50 tetri, as well as 1 & 2 lari.
The ducat was the main currency of the Kingdom of the Two Sicilies between 1816 and 1860. When the Congress of Vienna created the kingdom merging the Kingdom of Naples and the Kingdom of Sicily, the ducat became at par a continuation of the Neapolitan ducat and the Sicilian piastra issued prior to 1816, although the Sicilian piastra had been subdivided into 240 grana. In the mainland part of the kingdom, the ducat also replaced the Napoleonic lira.
The subdivision and the coinage of the currency was simplified respect to the pre-Napoleonic era: only three denominations survived. The ducat proper was the name of the gold coins, and curiously it did not exist as a single unit; the grana (singular: grano) was the name of the silver coins, itself too not existing as a single unit; the tornesel (Italian: tornese) was the name of the copper coins. Accounts were kept in ducats, each of 100 grana or 200 tornesels.
The piastra was the unofficial name of the biggest silver coin, which had a value of 120 grana. When the Italian lira replaced the coinage of the House of Bourbon in 1861, a rate of 1 piastra = 5.1 lire was established.
Copper coins were issued in denominations of ½, 1, 1½, 2, 3,
The dollar or peso sign ($) is a symbol primarily used to indicate the various peso and dollar units of currency around the world.
The sign is first attested in British, American, Canadian, Mexican and other Spanish American business correspondence in the 1770s, referring to the Spanish American peso, also known as "Spanish dollar" or "piece of eight" in British North America, which provided the model for the currency that the United States later adopted in 1785 and the larger coins of the new Spanish American republics such as the Mexican peso, Peruvian eight-real and Bolivian eight-sol coins.
The best documented explanation reveals that the sign evolved out of the Spanish and Spanish American scribal abbreviation "p" for pesos. A study of late eighteenth- and early nineteenth-century manuscripts shows that the s gradually came to be written over the p developing a close equivalent to the "$" mark.
There are a number of other theories about the origin of the symbol, some with a measure of academic acceptance, others the symbolic equivalent of false etymologies.
One theory is that the dollar sign is derived from a slash through the numeral eight, denoting pieces of eight. The
The leu (Romanian pronunciation: [lew], plural lei [lej]; ISO 4217 code RON; numeric code 946) is the currency of Romania. It is subdivided into 100 bani (singular: ban). The name of the currency means "lion". On 1 July 2005, Romania underwent a currency reform, switching from the previous leu (ROL) to a new leu (RON). 1 RON is equal to 10,000 ROL.
Romania joined the European Union on 1 January 2007 and it is expected to adopt the euro in 2015.
The currency of Moldova is also called the leu, but is independent of the Romanian leu.
On April 22, 1867, a bimetallic currency was adopted, with the leu equal to 5 grams of 83.5% silver or 0.29032 grams of gold.
Before 1878 the silver Russian ruble was valued so highly as to drive the native coins out of circulation. Consequently, in 1889, Romania unilaterally joined the Latin Monetary Union and adopted a gold standard. Silver coins were legal tender only up to 50 lei. All taxes and customs dues were to be paid in gold and, owing to the small quantities issued from the Romanian mint, foreign gold coins were current, especially French 20-franc pieces (equal at par to 20 lei), Turkish gold lire (22.70), old Russian imperials (20.60) and
The sucre was the currency of Ecuador between 1884 and 2000. Its ISO code was ECS and it was subdivided into 10 decimos or 100 centavos. The sucre was named after Antonio José de Sucre.
The Ecuadorian peso was renamed the sucre on March 22, 1884, and firmly placed on the silver standard. The sucre was defined as 22.5 g fine silver (equivalent to 5 francs of the Latin Monetary Union). Substandard coins were withdrawn between 1887 and 1892, only high-quality silver remaining in circulation.
The fall in the international price of silver accelerated in the 1890s, and on November 3, 1898, Ecuador switched to the gold standard, with the sucre defined as 732.224 mg fine gold (equivalent to 2 shillings sterling).
Like so many other currencies, the sucre became inconvertible shortly after World War I began in 1914. The exchange rate kept falling, despite extensive measures to support it. It was finally stabilized during 1926, and on March 4, 1927 Ecuador went on the gold exchange standard, with the sucre equal to 300.933 mg fine gold or US$0.20 (a devaluation of 58.8%).
The gold exchange standard was suspended February 8, 1932. Exchange controls were adopted April 30 and the official rate
The naira (sign: ₦; code: NGN) is the currency of Nigeria. It is subdivided into 100 kobo.
The Central Bank of Nigeria (CBN) is the sole issuer of legal tender money throughout the Federation. It controls the volume of money supply in the economy in order to ensure monetary and price stability. The Currency & Branch Operations Department of the CBN is in charge of currency management, through the procurement, distribution/supply, processing, reissue and disposal/disintegration of bank notes and coins.
The naira was introduced on 1 January 1973, replacing the pound at a rate of 2 naira = 1 pound. This made Nigeria the last country to abandon the £sd currency system. There was a plan to redenominate the naira at 1 new naira = 100 old naira in 2008, but the plan has been suspended. The currency sign is U+20A6 ₦ naira sign.
Rampant inflation has occurred in Nigeria over the existence of naira. The Central Bank of Nigeria claimed that they attempted to control the annual inflation rate below 10%. In 2011, CBN increased key interest rate for 6 times, rising from 6.25% to 12%. On 31 January 2012, CBN decided to maintain the key interest rate at 12%, in order to reduce the impact of
The escudo was the currency of Portuguese Timor between 1959 and 1976. It replaced the pataca at a rate of 5.6 escudos = 1 pataca and was equivalent to the Portuguese escudo. It was replaced by the Indonesian rupiah following East Timor's occupation by Indonesia. The escudo was subdivided into 100 centavos.
East Timor (formerly Portuguese Timor) now uses the U.S. dollar and has its own coins in circulation.
The first coins issued, dated 1958, were in denominations of 10, 30 and 60 centavos, 1, 3 and 6 escudos. The unusual denominations (see also the banknotes, below) may have been due to the exchange rate from the previous currency. The 10 and 30 centavos were struck in bronze, the 60 centavos and 1 escudo in cupro-nickel, and the 3 and 6 escudos in silver. In 1964, a silver 10 escudos was introduced, followed, in 1970, by more conventional denominations of 20 and 50 centavos, 1, 2½, 5 and 10 escudos. The 20 and 50 centavos and 1 escudo were struck in bronze, with the higher denominations struck in cupro-nickel.
The first banknotes, dated 1959, were in denominations of 30, 60, 100 and 500 escudos. In 1967, 20 and 50 escudos notes were introduced, followed by 1000 escudos in 1968.
The pound was the currency of the Federation of Rhodesia and Nyasaland. It was subdivided into 20 shillings, each of 12 pence.
The Federation was formed in 1953, and the new currency was created in 1955 to replace the Southern Rhodesian pound which had been circulating in all parts of the federation (Southern Rhodesia, Northern Rhodesia, and Nyasaland). The Rhodesia and Nyasaland pound replaced the Southern Rhodesian pound at par and was pegged at par to the British pound.
The Federation broke up at the end of 1963 and the three territories reverted to being separate British colonies. In the second half of 1964, Nyasaland became independent as Malawi, Northern Rhodesia became independent as Zambia, and Southern Rhodesia declared a name change to Rhodesia. Each issued their own pounds, at par with the Rhodesia and Nyasaland pound. See Malawian pound, Zambian pound and Rhodesian pound.
The Federation also issued its own coinage. In 1955 a full new set of coins were issued with the Mary Gillick obverse of the Queen and various African animals on the reverse. The denominations followed those of sterling, namely halfpennies and pennies, which had a hole in them, threepences (known as
In 1825, an imperial order-in-council made sterling coinage legal tender in all the British colonies. At that time, the only British colony in Southern Africa was the Cape of Good Hope Colony. As time went on, the British pound sterling and its associated subsidiary coinage became the currency of every British territory in Southern Africa. The pound at that time was subdivided into 20 shillings, each of 12 pence.
The pound sterling became the standard currency of the Cape of Good Hope colony in 1825 following an imperial order-in-council that was issued for the purpose of introducing the sterling coinage into all the British colonies. British coins then replaced the Dutch currency. Before a unified South Africa, many authorities issued coins and banknotes in their own pound, equivalent to sterling.
The Zuid-Afrikaansche Republiek (ZAR), the Boer state that in 1902 was to become Transvaal, issued notes from 1867 to 1902 and coins from 1892 to 1902. The gold coins were denominated in pond rather than pounds.
In 1920, the Treasury issued gold certificate notes. The following year, the South African Reserve Bank was established as the sole note issuing authority. Coins were issued from
In the Roman currency system, the denarius (/dɪˈnɛərɪəs/ di-NAIR-i-əs; plural: denarii /dɪˈnɛərɪaɪ/ di-NAIR-i-eye) was a small silver coin first minted in 211 BC. It was the most common coin produced for circulation but was slowly debased until its replacement by the antoninianus. The word denarius is derived from the Latin dēnī "containing ten", as its value was 10 asses; it may also be the origin of the word dinar (see that page for further discussion).
An early form of the denarius was first struck five years before the first Punic War, in 269 BC with a weight of 6.8 grams on average at the time or ⁄48 of a Roman pound. Contact with the Greeks prompted a need for silver coinage in addition to the bronze asses the Romans were using at that time. This was a Greek-style silver coin, very similar to didrachm and drachma struck in Metapontion and other Greek cities in Southern Italy. These coins were inscribed for Rome, but closely resemble their Greek counterparts. They were most likely used for trade purposes and seldom used in Rome.
Around 225 B.C. the first distinctively Roman silver coin appears. Classic historians often cite these coins as denarii, but they are classified by
The boliviano (sign: Bs. or Bs; ISO 4217 code: BOB) is the currency of Bolivia. It is divided into 100 cents or centavos in Spanish. Boliviano was also the name of the currency of Bolivia between 1864 and 1963.
The first boliviano was introduced in 1864. It was equivalent to eight soles or half a scudo in the former currency. Initially, it was subdivided into 100 centécimos but this was altered to centavos in 1870. The name bolivar was used for an amount of ten bolivianos.
The boliviano was initially pegged at a rate of 1 boliviano = 5 French francs. On December 31, 1908, the currency was put on a new gold standard, with 12½ bolivianos = 1 British pound. A series of devaluations relative to the pound followed:
In 1940, multiple exchange rates to the U.S. dollar were established (40 and 55 bolivianos = 1 dollar). However, the boliviano continued to fall in value. In 1963, it was replaced by the peso boliviano (ISO 4217: BOP) at a rate of one thousand to one.
In 1864, copper 1 and 2 centecimos, and silver ⁄20, ⁄10, ⁄5 and 1 boliviano were introduced. In 1870, silver 5, 10 and 20 centavos were introduced, followed by silver 50 centavos in 1873 and copper 1 and 2 centavos in 1878. In
The rupee (sign: ₨; ISO 4217 code: MUR) is the currency of Mauritius.
The rupee was established by law in 1876 as the local currency of Mauritius. The rupee was chosen due to the massive inflow of Indian rupees following Indian immigration to Mauritius. The Mauritian rupee was introduced in 1877, replacing the Indian rupee, sterling and the Mauritian dollar, with the Mauritian rupee equal to one Indian rupee or half a Mauritian dollar. The pound was worth 10¼ rupees at that time. The Mauritian currency also circulated in the Seychelles until 1914, when it was replaced by the Seychellois rupee at par.
In 1934, a peg to sterling replaced the peg to the Indian rupee, at the rate of 1 rupee = 1 shilling 6 pence (the rate at which the Indian rupee was also pegged). This rate, equivalent to 13⅓ rupees = 1 pound, was maintained until 1979.
In 1877, coins for 1, 2, 5, 10 and 20 cents were introduced, with the lower three denominations in copper and the higher two in silver. Coin production ceased in 1899 and did not recommence until 1911, with silver coins not produced again until 1934, when ¼, ½ and 1 rupee coins were introduced. In 1947, cupro-nickel 10 cents were introduced, with
The escudo (sign: ; ISO 4217: CVE) is the currency of the Republic of Cape Verde.
Amounts are generally written by using the cifrão as the decimal separator, such as 2000 for 20 escudos, or 1.00000 for 1000.
The escudo became the currency of Cape Verde in 1914. It replaced the Cape Verdean real at a rate of 1000 réis = 1 escudo. Until 1930, Cape Verde used Portuguese coins, although banknotes were issued by the Banco Nacional Ultramarino specifically for Cape Verde beginning in 1865.
Until independence in 1975, the Cape Verde escudo was equal to the Portuguese escudo. Subsequently it depreciated, declining by about 30 per cent in 1977-8 and by a further 40 per cent in 1982-84. Thereafter, it remained fairly stable against the escudo.
In mid-1998 an agreement with Portugal established a pegged rate of 1 Portuguese escudo = 0.55 Cape Verdean escudo. Since the replacement of the Portuguese escudo with the euro, the Cape Verdean escudo has been pegged to the euro at a rate of 1 euro = 110$265. This peg is supported by a credit facility from the Portuguese government.
Under Portuguese rule, coins were introduced in 1930 in denominations of 5, 10, 20 and 50 centavos and 1 escudo. The 5,
The dirham (Arabic: درهم) (sign: د.إ; code: AED) is the currency of the United Arab Emirates. The ISO 4217 code (currency abbreviation) for the United Arab Emirates dirham is AED. Unofficial abbreviations include DH or Dhs. The dirham is subdivided into 100 fils (فلس).
The United Arab Emirates dirham was introduced 19 May 1973. It replaced the Qatar and Dubai riyal at par. The Qatar and Dubai riyal had circulated since 1966 in all of the emirates except Abu Dhabi, where the dirham replaced the Bahraini dinar at 1 dirham = 0.1 dinar. Before 1966, all the emirates that were to form the UAE used the Gulf rupee. As in Qatar, the emirates briefly adopted the Saudi riyal during the transition from the Gulf rupee to the Qatar and Dubai riyal.
On January 28, 1978, the dirham was officially pegged to the IMF's special drawing rights (SDRs). In practice, it is pegged to the U.S. dollar for most of the time. Since November 1997, the dirham has been pegged to the 1 U.S. dollar = 3.6725 dirhams, which translates to approximately 1 dirham = 0.272294 dollar.
The name Dirham derives from the Greek word Drachmae, literally meaning "handful", through Latin. Due to centuries of old trade and usage
Countries Formerly Used:German Democratic Republic
The East German mark (German: Mark der DDR (help·info)) commonly called the eastern mark ( Ostmark (help·info) in West Germany and after the reunification), in East Germany only Mark, was the currency of the German Democratic Republic (East Germany). Its ISO 4217 currency code was DDM. The currency was known officially as the Deutsche Mark from 1948 to 1964, Mark der Deutschen Notenbank from 1964 to 1967, and from 1968 to 1990 as the Mark der DDR (Mark of the GDR); it was referred to colloquially as simply the Mark. It was divided into 100 Pfennig (Pf).
On 18 June 1948 a currency reform was announced for the western zones. Subsequently on 20 June 1948, the Reichsmark and the Rentenmark were abolished in the western occupation zones and replaced with the Deutsche Mark issued by the Bank deutscher Länder (later the Deutsche Bundesbank). Because the Reichsmark was still legal tender in the Soviet occupation zone, the currency flooded into the east from the west, where it was worthless. This caused sudden inflation, which caused privately held cash in the Soviet zone to become worthless overnight. As an emergency measure, many thousands of employees in the district offices started to
The lira (plural lire) was the currency of the Kingdom of Sardinia between August 6, 1816 and March 17, 1861. It was subdivided into 100 centesimi (singular centesimo) and was equal in value to the French franc (4.5 grams of silver), which had replaced the Piedmontese shield by 1801. Being no more than the Piedmontese version of the franc, it could circulate also in France, as the French coins could circulate in Piedmont. It was replaced at par by the Italian lira. As the great part of the 19th century currencies, it was not affected by significant episodes of inflation during all its existence.
In 1816, King Victor Emmanuel I issued silver 5 lire and gold 20 lire coins. Before his abdication in 1821, he also produced a new golden 80 lire coin.
King Charles Felix followed in 1821 and 1822 minting gold 40 and 80 lire, respectively. He also expanded the new currency in Sardinia which, not having been conquered by Napoleon, had retained its Sardinian shields. Silver 50 centesimi, 1 and 2 lire were added in 1823, followed by copper 1, 3 and 5 centesimi in 1826, and silver 25 centesimi in 1829.
Finally, King Charles Albert added new gold 10, 50 and 100 lire in 1832, while King Victor
The Czech koruna or Czech crown (sign: Kč; code: CZK) has been the currency of the Czech Republic since 8 February 1993 when, together with its Slovak counterpart, it replaced the Czechoslovak koruna at par.
The official name in Czech is koruna česká (plural koruny české, though the zero-grade genitive plural form korun českých is used on banknotes and coins of value 5 Kč or higher). The ISO 4217 code is CZK and the local acronym is Kč, which is placed after the numeric value (e.g., "50 Kč"). One koruna equals 100 haléřů (abbreviated as "h", singular: haléř, nominative plural: haléře, genitive plural: haléřů - used with numbers higher or equal to 5 - e.g. 3 haléře, 8 haléřů).
The Czech Republic planned to adopt the euro in 2012, but its government suspended that plan in 2007. Although the country is economically well positioned to adopt the euro, there is considerable opposition to the move within the Czech Republic. According to a survey conducted in January 2011, only 22% of the Czech population was in favour of replacing the koruna with euro.
The Czech koruna replaced the Czechoslovak koruna when it was introduced in 1993 after the dissolution of Czechoslovakia. It first
The euro (sign: €; code: EUR) is the currency used by the Institutions of the European Union and is the official currency of the eurozone, which consists of 17 of the 27 member states of the European Union: Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia, and Spain. The currency is also used in a further five European countries and consequently used daily by some 332 million Europeans. Additionally, more than 175 million people worldwide—including 150 million people in Africa—use currencies pegged to the euro.
The euro is the second largest reserve currency as well as the second most traded currency in the world after the United States dollar. As of June 2012, with more than €906 billion in circulation, the euro has the highest combined value of banknotes and coins in circulation in the world, having surpassed the US dollar. Based on International Monetary Fund estimates of 2008 GDP and purchasing power parity among the various currencies, the eurozone is the second largest economy in the world.
The name euro was officially adopted on 16 December 1995. The euro was introduced to
The Irish pound (Irish: Punt Éireannach) was the currency of Ireland until 2002. Its ISO 4217 code was IEP, and the usual notation was the prefix £ (or IR£ where confusion might have arisen with the pound sterling or other pounds). The Irish pound was superseded by the euro on 1 January 1999. Euro currency did not begin circulation until the beginning of 2002.
The earliest Irish coinage was introduced in 997 with the pound divided into 20 shillings, each of 12 pence. After a period of debasement, equivalence to sterling was reestablished in the 1180s. However, from 1460, issues were made with different metal contents to those of England and the values of the two currencies diverged. During the Civil War, 1689–1691, James II issued an emergency, base-metal coinage known as gun money.
In 1701, the relationship between the Irish pound and sterling was fixed at 13 Irish pounds = 12 pounds sterling. This led to a situation where Irish copper coins circulated with British silver coins, since 13 pence Irish = 1 British shilling. The only 19th century exceptions were silver tokens denominated in pence Irish issued by the Bank of Ireland between 1804 and 1813. The last Irish copper pennies
The kwacha (ISO 4217 code: ZMK) is the currency of Zambia. It is subdivided into 100 ngwee.
The name derives from the Nyanja word for "dawn", alluding to the Zambian nationalist slogan of a "new dawn of freedom". The name ngwee translates as "bright" in the Nyanja language.
In 1968, the kwacha, a decimal type currency replaced the short lived pound at a rate of 2 kwacha = 1 pound (10 shillings = 1 kwacha). During the Kenneth Kaunda regime the value of the currency was fixed at a rate of approximately 1.2 kwacha to 1 USD. During the late eighties and early nineties a severe economic crisis emerged stemming from poor government oversight and overspending. As a result the currency suffered from high inflation throughout the 1990s and 2000s. By 2006, it took 4,800 kwacha to buy one U.S. Dollar.
As of March 8, 2011, 1 US dollar was equal to 4,715 kwacha.
As of January 23, 2012, 1 US dollar was equal to 5,120 kwacha
On January 23, 2012, Finance Minister Alexander Chikwanda announced that Zambia would rebase the kwacha currency by lopping off three zeros, a move that should make it easier for foreign investors to participate in the economy.
“The rebasing had to be done when all the
Assignat was the type of a monetary instrument used during the time of the French Revolution, and the French Revolutionary Wars.
Assignats were paper money issued by the National Assembly in France from 1789 to 1796, during the French Revolution. The assignats were issued after the confiscation of church properties in 1790 because the government was bankrupt. The government thought that the financial problems could be solved by printing certificates representing the value of church properties. These church lands became known as biens nationaux (“national goods”). Assignats were used to successfully retire a significant portion of the national debt as they were accepted as legitimate payment by domestic and international creditors. Certain precautions not taken concerning their excessive reissue and comingling with general currency in circulation caused hyperinflation.
Originally meant as bonds, they evolved into a currency used as legal tender. As there was no control over the amount to be printed, the value of the assignats exceeded that of the confiscated properties. This caused massive hyperinflation. In the beginning of 1792, they had lost most of their nominal value. In 1796,
The Krone (pl. Kronen) was the currency of Austria (then called Deutschösterreich) and Liechtenstein after the dissolution of the Austro-Hungarian Empire (1919) until the introduction of the Schilling (1925) and the Franken, respectively.
Coins included 20 and 100 Krone gold coins minted with the same standard as their Austro-Hungarian Krone counterparts.
To ease the introduction of the new currency, 100, 200 and 1000 Krone coins were minted right before 1925 with the same parameters as the equivalent Groschen coins (1, 2 and 10 Groschen) that replaced them.
According to the Treaty of St. Germain the newly created Republic of Austria had to overstamp the paper money circulating in its territory, then had to replace the overstamped banknotes with new ones, finally had to introduce a new currency.
To fulfil the first step, circulating banknotes were overstamped with the inscription DEUTSCHÖSTERREICH, and new banknotes were also issued with this feature. Later, still under the name Oesterreichisch-ungarische Bank, banknotes were printed using the German-language clichés on both sides - and still bearing the DEUTSCHÖSTERREICH inscription. From 1920 on a new stamp appeared on banknotes:
The Gulden or forint (German: Österreichisch-ungarische Gulden, Hungarian: osztrák-magyar forint, Czech: Rakousko-uherský zlatý) was the currency of the lands of the House of Habsburg (known as the Austrian Empire from 1804 to 1867 and the Austro-Hungarian Empire after 1867) between 1754 and 1892, when it was replaced by the Krone/korona as part of the introduction of the gold standard. In Austria, the Gulden was initially divided into 60 Kreuzer, and in Hungary, the forint was divided into 60 krajczár. The currency was decimalized in 1857, using the same names for the unit and subunit.
The name Gulden was used on the pre-1867 Austrian banknotes and on the German side of the post-1867 banknotes. In southern Germany, the word Gulden was the standard word for a major currency unit. The name Florin was used on Austrian coins and forint was used on the Hungarian side of the post-1867 banknotes and on Hungarian coins. It comes from the city of Florence, Italy where the first florins were minted.
With the introduction of the Conventionsthaler in 1754, the Gulden was defined as half a Conventionsthaler, equivalent to 1/20 of a Cologne mark of silver and subdivided into 60 Kreuzer. The
The króna (plural: krónur; sign: ,-, kr) is the currency of the Faroe Islands. It is issued by the Danish National Bank. It is not an independent currency but a version of the Danish krone. Consequently, it does not have an ISO 4217 currency code. The ISO 4217 code for the Danish krone is DKK. The króna is subdivided into 100 oyru.
When German forces occupied Denmark on 9 April 1940, the Danish krone was used in the Faroes. However, all exchange between the Faroes and Denmark halted as a result of the occupation, leaving one currency to develop in two markets independently of each other. On 31 May 1940, special Faroese banknotes were introduced. They consisted of Danish notes with a special stamp. These notes replaced unstamped Danish at par.
From 14 October 1940, new banknotes were printed "on behalf of the National Bank of Denmark". The value of these new banknotes was the same as those already in use. On 18 December 1940, a Currency Central was established in order to monitor foreign trade and to secure the solvency of the Faroes. Currency Central was headed by a board of nine, the judge, who was chairman, one representative of Faroe Fish Export, one representative of the
The Gibraltar pound (currency sign: £; banking code: GIP) is the currency of Gibraltar. It is exchangeable with the British pound sterling at par value.
Until 1872, the currency situation in Gibraltar was complicated, with a system based on the real being employed which encompassed British, Spanish and Gibraltarian coins. From 1825, the real (actually the Spanish real de plata) was tied to the pound at the rate of 1 Spanish dollar to 4 shillings 4 pence (equivalent to 21.67 pence today). In 1872, however, the Spanish currency became the sole legal tender in Gibraltar. In 1898, the Spanish–American War made the Spanish peseta drop alarmingly and the pound was introduced as the sole currency of the colony, initially in the form of British coins and banknotes.
In 1898, the British pound was made sole legal tender, although the Spanish peseta continued in circulation until the Spanish Civil War. Since 1927, Gibraltar has issued its own banknotes and, since 1988, its own coins. Gibraltar decimalised in 1971 at the same time as the UK, replacing the system of 1 pound = 20 shillings = 240 pence with one of 1 pound = 100 (new) pence.
The Currency Notes Act of 1934 confers on the Government
The pound was the currency of the Commonwealth of Massachusetts and its colonial predecessors until 1793. Like the British pound sterling of that era, the Massachusetts pound was subdivided into 20 shillings, each of 12 pence, but the Massachusetts and British pounds were not equivalent in value. British and other foreign coins were widely circulated in Massachusetts, supplemented by locally-produced coins between about 1652 and 1682 and by local paper money from 1690.
The paper money issued in colonial Massachusetts was denominated in pounds, shillings, and pence. Initially, six shillings were equal to one Spanish dollar. After years of high inflation, in 1749 Massachusetts withdrew its paper money from circulation and returned to specie.
Massachusetts once again began issuing paper money after the American Revolutionary War began in 1775. The state currency depreciated greatly and was replaced by the U.S. dollar in 1793.
Coins were issued in denominations of 3 and 6 pence and 1 shilling. The first pieces bore the letters "NE" and the denomination "III", "VI" or "XII". The coins were smaller than the equivalent sterling coins by 22.5%. Later pieces, struck between 1652 and 1660 or
The escudo was the currency of Mozambique from 1914 until 1980. It was subdivided into 100 centavos.
The escudo replaced the real at a rate of 1 escudo = 1000 réis. It was equal in value to the Portuguese escudo until 1977. Initially, Mozambique had its own paper money but used Portuguese coins. Only in 1935 were coins issued specifically for use in Mozambique. In 1975, the metica was proposed as a replacement for the escudo, but it was not used. The escudo was replaced by the metical in 1980 at par.
Between 1935 and 1936, coins for 10, 20 and 50 centavos, 1, 2½, 5 and 10 escudos, with the 2½, 5 and 10 escudos in silver. In 1952, silver 20 escudos were issued. Between 1968 and 1971, base metal coins replaced the silver 5, 10 and 20 escudos. The last coins were issued in 1974.
In 1914, provisional issues for 100 and 1000 escudos were introduced, alongside regular issues for 10, 20 and 50 centavos, by the Banco Nacional Ultramarino. Emergency issues of notes for 10, 20 and 50 centavos and 1 and 2½ escudos were introduced in 1920, followed by regular issues for 1, 2½, 5, 10, 20, 50 and 100 escudos. Emergency issues for 50 centevaos and regular 500 and 1000 escudos notes were
The colón was the currency of El Salvador between 1892 and 2001, until it was substituted by the U.S. Dollar. It was subdivided into 100 centavos and its ISO 4217 code was SVC. The plural is colones in Spanish and was named after Christopher Columbus, known as Cristóbal Colón in Spanish.
The symbol for the colón is a c with two slashes. The symbol "₡" has Unicode code point U+20A1, and the decimal representation is 8353. In HTML it can be entered as ₡. The colón sign is not to be confused with the cent sign (¢), which has a code point U+00A2 in Unicode (or 162 in decimal), or with the cedi sign ₵, which has a code point U+20B5 in Unicode (or 8373 in decimal). Nonetheless, the commonly available cent symbol '¢' is frequently used locally to designate the colón in price markings and advertisements.
On October 1 of 1892, the government of President Carlos Ezeta, decided that the Salvadoran peso be called 'Colon', in homage to the "discoverer" of America. The colón replaced the peso at par in 1919. It was initially pegged to the U.S. dollar at a rate of 2 colones = 1 dollar. El Salvador left the gold standard in 1931 and its value floated. On June 19, 1934 the Central Bank was
The maravedí (Spanish pronunciation: [maɾaβeˈði]) was the name of various Iberian coins of gold and then silver between the 11th and 14th centuries and the name of different Iberian accounting units between the 11th and 19th centuries.
The word maravedí comes from marabet or marabotin, a variety of the gold dinar struck in Spain by, and named after, the Moorish Almoravids (Arabic المرابطون al-Murābitũn, sing. مرابط Murābit). The Spanish word maravedí is unusual in having three documented plural forms: maravedís, maravedíes and maravedises. The first one is the most straightforward, the second is a variant plural formation found commonly in words ending with a stressed -í, whereas the third is the most unusual and the least recommended (Real Academia Española's Diccionario panhispánico de dudas labels it "vulgar in appearance").
The gold dinar was first struck in Spain under Abd-ar-Rahman III, Emir of Córdoba (912-961). During the 11th century, the dinar became known as the morabit or morabotin throughout Europe. In the 12th century, it was copied by the Christian rulers Ferdinand II of León (1157–1188) and Alphonso VIII of Castile (1158–1214). Alfonso's gold marabotin or maravedí
The real (meaning: "royal", plural: reales) was a unit of currency in Spain for several centuries after the mid-14th century, but changed in value relative to other units introduced. In 1864, the real was replaced by a new Spanish escudo, then by the peseta in 1868, when a real came to mean a quarter of a peseta.
The first real was introduced by King Pedro I of Castile in the mid 1300's at a value of 3 maravedíes. This rate of exchange increased until 1497, when the real, now issued in billon, was fixed at a value of 34 maravedíes. The famous "piece of eight" (peso de a ocho), also known as the Spanish dollar, was issued that same year as a trade coin. It later became widespread in America and Asia. In 1566, the gold escudo was introduced, worth 16 silver reales. The "piece of eight" was so-called because the denomination was divided into eight silver reales (8 reales = 1 silver peso). In addition to the "piece of eight," which was a one-ounce silver coin, other coins based on it were issued: 4 reales, 2 reales, 1 real and the little (half-inch diameter) half real.
During this period, Spanish trade coinage became popular in international trade and commerce, and remained so for
The riksdaler was the name of a Swedish coin first minted in 1604. Between 1777 and 1873, it was the currency of Sweden. The daler, like the dollar, was named after the German Thaler. The similarly named Reichsthaler, rijksdaalder, and rigsdaler were used in Germany and Austria-Hungary, the Netherlands, and Denmark-Norway, respectively. Riksdaler is still used as a colloquial term for kronor in Sweden.
The daler was introduced in 1534. It was initially intended for international use and was worth 4 mark, 32 öre or 192 penningar (singular penning). In 1604, the name was changed to riksdaler ("daler of the realm", c.f. Reichsthaler). In 1609, the riksdaler rose to a value of 6 mark when the other Swedish coins were debased but the riksdaler remained constant.
From 1624, daler were issued in copper as well as silver. Because of the low value of copper, large plate money (plåtmynt) was issued. These were rectangular pieces of copper weighing, in some cases, several kilograms. (The largest one is worth 10 daler and weighs almost 20 kilograms (44 lb). They circulated until 1776. As silver became scarce, the silver daler rose in value relative to the copper daler, with the exchange rate
The dollar (currency sign: $; currency code: FJD) has been the currency of Fiji since 1969 and was also the currency between 1867 and 1873. It is normally abbreviated with the dollar sign $, or alternatively FJ$ to distinguish it from other dollar-denominated currencies. It is divided into 100 cents.
The dollar was reintroduced on 15 January 1969, replacing the Fijian pound at a rate of 1 pound = 2 dollars, or 10 shillings = FJ$1. The coins and banknotes continue to feature Queen Elizabeth II, despite Fiji having been a republic since 1987.
Fiji followed the pattern of South Africa, Australia, and New Zealand in that when it adopted the decimal system, it decided to use the half pound unit as opposed to the pound unit of account. The choice of the name dollar was motivated by the fact that the reduced value of the new unit corresponded more closely to the value of the US dollar than it did to the pound sterling.
In 1969, coins were introduced in denominations of 1¢, 2¢, 5¢, 10¢ & 20¢, with a 50¢ coin issued in 1975. The coins had the same sizes and compositions as the corresponding Australian coins, with the 50 cents matching the cupronickel dodecagonal type introduced in Australia
The riyal (Arabic: ريال, ISO 4217 code: QAR) is the currency of the State of Qatar. It is divided into 100 dirham (درهم) and is abbreviated as either QR (English) or ر.ق (Arabic).
Until 1966, Qatar used the Indian rupee as currency, in the form of Gulf rupees. When India devalued the rupee in 1966, Qatar, along with the other states using the Gulf rupee, chose to introduce its own currency. Before doing so, Qatar briefly adopted the Saudi riyal, then introduced the Qatar and Dubai riyal which was the result of signing the Qatar-Dubai Currency Agreement on 21 March 1966. The Saudi riyal was worth 1.065 rupees, whilst the Qatar and Dubai riyal was equal to the rupee prior to its devaluation.
Following Dubai’s entrance into the United Arab Emirates, Qatar began issuing the Qatari riyal separate from Dubai on 19 May 1973. The old notes continued to circulate in parallel for 90 days, at which time they were withdrawn.
For a wider history surrounding currency in the region, see The History of British Currency in the Middle East.
In 1966, coins were introduced in the name of Qatar and Dubai for 1, 5, 10, 25 and 50 dirham. In 1973, a new series of coins was introduced in the same sizes
The leone is the currency of Sierra Leone. It is subdivided into 100 cents. The ISO 4217 code is SLL and the leone is abbreviated as Le placed before the amount.
The leone was introduced on 4 August 1964. It replaced the British West African pound at a rate of 1 pound = 2 leones (i.e., 1 leone = 10 shillings).
For an earlier Sierra Leone currency, see Sierra Leonean dollar.
In 1964, decimal coins were introduced in denominations of ½, 1, 5, 10 and 20 cents. The coins size and compositions were based in part on those of the former colonial state British West Africa. All bore the portrait of the first president of Sierra Leone, Sir Milton Margai. In 1972, 50 cents coins were introduced which carried the portrait of the succeeding president Dr. Siaka Stevens. In 1974, round cupro-nickel one leone coins were introduced and in 1976, seven sided cupro-nickel 2 leone coins commemorating FAO were introduced. These latter two denominations, however, did not circulate as frequently as the lower cent denominations. The portrait of Stevens also appeared on a new, slightly smaller series of coins introduced in 1980 in denominations of ½, 1, 5, 10 and 20 cents. In 1987, octagonal, nickel-bronze
The dollar (ISO 4217 code SRD) has been the currency of Suriname since 2004. It is divided into 100 cents.
The dollar replaced the Surinamese guilder on 1 January 2004, with one dollar equal to 1000 guilders. Initially, only coins were available, with banknotes delayed until mid-February, reportedly due to a problem at the printer, the Bank of Canada.
The old coins denominated in cent (i.e., 1/100 guilder) were declared to be worth their face value in the new cents, negating the necessity of producing new coins. Thus, for example, an old 25 cent coin, previously worth quarter of a guilder, was now worth quarter of a dollar.
Amendment 121 of ISO 4217 gave the currency the code SRD replacing the Suriname guilder (SRG).
The people of Suriname often refer to their currency as SRD to differentiate it from the US dollar, which is also used to quote prices for electronic goods, household furnishings and appliances, and automobiles.
Coins in denominations of 1, 5, 10, 25, 100 and 250 cents from the previous currency are in circulation.
The Surinamese dollar replaced the Surinamese guilder on 1 January 2004, with one dollar equal to 1,000 guilders, prompting the issuance of notes
The dinar (Arabic: دينار) (sign: د.ج or DA; code: DZD) is the currency of Algeria and it is subdivided into 100 santeem (سنتيم).
The name "dinar" is ultimately derived from the Roman denarius.
The dinar was introduced on 1 April 1964, replacing the Algerian new franc at par.
In 1964, coins in denominations of 1, 2, 5, 10, 20 and 50 santeem, and 1 dinar were introduced, with the 1, 2 and 5 santeem struck in aluminium, the 10, 20 and 50 santeem in aluminium bronze and the 1 dinar in cupro-nickel. The obverses showed the emblem of Algeria, while the reverses carried the values in Eastern Arabic numerals. In later decades, coins were issued sporadically with various commemorative subjects. However, the 1 and 2 santeem were not struck again, whilst the 5, 10 and 20 santeem were last struck in the 1980s.
In 1992, a new series of coins was introduced consisting of ¼, ½, 1, 2, 5, 10, 20, 50 and 100 dinar. A 200 dinar bi-metallic coin was issued in 2012 to commemorate Algeria's 50th anniversary of independence. The 10, 20, 50, 100, and 200 dinar coins are bimetallic.
Coins in general circulation are 5 dinar and higher. Following the massive inflation which accompanied the slow transition
The CFP franc (called the franc in everyday use) is the currency used in the French overseas collectivities (collectivités d’outre-mer, or COM) of French Polynesia, New Caledonia and Wallis and Futuna. The initials CFP originally stood for Colonies Françaises du Pacifique (“French colonies of the Pacific”). This was later changed to Communauté Financière du Pacifique (“Pacific Financial Community”) and then to the present official term, Comptoirs Français du Pacifique (“French Pacific Banking Agreement”). The ISO 4217 currency code is XPF.
The CFP franc was created in December 1945, together with the CFA franc, used in Africa. The reason for the creation of these francs was the weakness of the French franc immediately after the Second World War. When France ratified the Bretton Woods Agreement in December 1945, the French franc was devalued in order to set a fixed exchange rate with the US dollar. New currencies were created in the French colonies to spare them the strong devaluation of December 1945. René Pleven, the French minister of finance, was quoted saying: “In a show of her generosity and selflessness, metropolitan France, wishing not to impose on her far-away daughters the
The peso is the currency of Chile. The current peso has circulated since 1975, with a previous version circulating between 1817 and 1960. The symbol used locally for it is $. The ISO 4217 code for the present peso is CLP. It is subdivided into 100 centavos, although no centavo denominated coins remain in circulation. The average exchange rate of the Chilean peso to the U.S dollar was 1 U.S. dollar to 497.09 Chilean pesos in May 2012.
The first Chilean peso was introduced in 1817, at a value of 8 Spanish colonial reales. Until 1851, the peso was subdivided into 8 reales, with the escudo worth 2 pesos. In 1835, copper coins denominated in centavos were introduced but it was not until 1851 that the real and escudo denominations ceased to be issued and further issues in centavos and décimos (worth 10 centavos) commenced. Also in 1851, the peso was set equal 5 French francs on the silver standard, 22.5 grams pure silver. However, gold coins were issued to a different standard to that of France, with 1 peso = 1.37 grams gold (5 francs equalled 1.45 grams gold). In 1885, a gold standard was adopted, pegging the peso to the British pound at a rate of 13⅓ pesos = 1 pound (1 peso = 1
The lira (Arabic: ليره, plural: lire) was the military currency of the British zone of occupation (later Mandate Territory) in Libya between 1943 and 1951. It was issued by the "Military Authority in Tripolitania", known popularly as "MAL" and circulated together with the Italian lira at par. This situation reflected that of Italy, where the AM-lira was minted by the United States. The Tripolitanian and the Italian lira were replaced in 1951 by the Libyan pound at a rate of 1 pound = 480 lire.
No coins were issued for this currency, old Italian coins theorically being still circulating, although heavily devalued. Notes were issued in denominations of 1, 2, 5, 10, 50, 100, 500 and 1000 lire.
The đồng (/ˈdɒŋ/; Vietnamese: [ɗôŋm]) (sign: ₫; code: VND) has been the currency of Vietnam since May 3, 1978. Issued by the State Bank of Vietnam, it is represented by the symbol "₫". Formerly, it was subdivided into 10 hào, which was further subdivided into 10 xu, neither of which is now used.
The word đồng is from the term đồng tiền ("money"), a cognate of the Chinese tóng qián (Traditional Chinese: 銅錢; Simplified Chinese: 铜钱). The term refers to Chinese bronze coins used as currency during the dynastic periods of China and Vietnam. The term hào is a cognate of the Chinese háo (Chinese: 毫), meaning a tenth of a currency unit.
The sign is encoded U+20AB ₫ dong sign (HTML: ₫).
In 1946, the Viet Minh government (later to become the government of North Vietnam) introduced its own currency, the đồng, to replace the French Indochinese piastre at par. Two revaluations followed, in 1951 and 1958; the first was at a rate of 100:1, the second at a rate of 1000:1.
Notes dually denominated in piastres and đồng were issued in 1953 for the State of Vietnam, which evolved into South Vietnam in 1954. On September 22, 1975, after the fall of Saigon, the currency in South Vietnam was
Ringgit (Malay for "jagged") mostly refers to the Malaysian ringgit, which is the local currency in Malaysia, but it can also refer to the Brunei dollar or Singapore dollar in the Malay language. The word ringgit was originally used to refer to the serrated edges of Spanish silver dollars widely circulated in the area before the introduction of their own currency.
The Pfennig (help·info) (German pronunciation: [ˈpfɛnɪç], abbreviation Pf, symbol ₰), plural Pfennige (help·info), is an old German coin or note, which existed from the 9th century until the introduction of the euro in 2002.
While a valuable coin during the Middle Ages, it lost its value through the years and was the minor coin of the Mark currencies in the German Reich, the former Federal Republic of Germany (FRG, West Germany) and the German Democratic Republic (GDR, East Germany), and after the German reunification in the present Federal Republic of Germany until the introduction of the euro. Pfennig was also the name of the subunit of the Danzig mark (1922–1923) and the Danzig gulden (1923–1939) in the Free City of Danzig (German: Freie Stadt Danzig; Polish: Wolne Miasto Gdańsk).
As a currency sign the letter 'd' for 'denarius' in German kurrent script was used: ₰. This abbreviation has nearly fallen out of use since the 1950s, with the demise and eventual abolition of the Reichsmark with its Reichspfennig. The symbol is encoded in Unicode at U+20B0 ₰ german penny sign (HTML: ₰).
The British penny is etymologically related to the 'Pfennig', the Swedish penning, which
The British North Borneo dollar was the currency of British North Borneo from 1882 to 1953. It was subdivided into 100 cents. The dollar had remained at par with the Straits dollar (and its successor the Malayan dollar), the currency of Malaya and Singapore, at the value of one dollar to 2 shillings 4 pence sterling from its introduction until both currencies were replaced by the Malaya and British Borneo dollar in 1953. Both coins and banknotes are issued by the British North Borneo Company.
During the Japanese occupation period (1942–1945), paper money was issued in denominations ranging from 1 cent to 1000 dollars. This currency was fixed at 1 dollar = 1 Japanese yen, compared to a 1:2 pre-war rate. Following the war, the Japanese occupation currency was declared worthless and the previous issues of the British North Borneo dollar regained their value relative to sterling (two shillings four pence).
Throughout its history, coins were minted in values of ½ cent, 1 cent, 2½ cents, 5 cents, and 25 cents. Only the 25 cent coin contains precious metal.
Banknotes were printed in values of 25 cents, 50 cents, $1, $5, $10, and $25. The design of the banknotes did not change much during
The Dominican peso is the currency of the Dominican Republic. Its symbol is "$", with "RD$" used when distinction from other pesos (or dollars) is required; its ISO 4217 code is "DOP". Each peso is divided into 100 centavos ("cents"), for which the ¢ symbol is used. It is the only currency which is legal tender for all monetary transactions, whether public or private, in the Dominican Republic.
The first Dominican peso was introduced with the country's independence from Haiti in 1844. It replaced the Haitian gourde at par and was divided into 8 reales. The Dominican Republic decimalized in 1877, subdividing the peso into 100 centavos. A second currency, the franco, was issued between 1891 and 1897 but did not replace the peso. However, in 1905, the peso was replaced by the U.S. dollar, at a rate of 5 pesos to the dollar. The peso oro was introduced in 1937 at par with the U.S. dollar, although the dollar continued to be used alongside the peso oro until 1947.
Only one denomination of coin was issued by the Dominican Republic before decimalization. This was the ¼ real, issued in 1844 in bronze and in both 1844 and 1848 in brass. Decimalization in 1877 brought about the introduction
The dollar has been the currency of Jamaica since 1969. It is often abbreviated "J$", the J serving to distinguish it from other dollar-denominated currencies. It is divided into 100 cents.
The history of currency in Jamaica should not be considered in isolation of the wider picture in the British West Indies as a whole. See British West Indies dollar. The peculiar feature about Jamaica was the fact that it was the only British West Indies territory to use special issues of the sterling coinage, apart from the four pence groat coin which was specially issued for all the British West Indies, and later only for British Guiana.
The earliest money in Jamaica was Spanish copper coins called maravedíes. This relates to the fact that for nearly four hundred years Spanish dollars, known as pieces of eight were in widespread use on the world's trading routes, including the Caribbean Sea region. However, following the revolutionary wars in Latin America, the source of these silver trade coins dried up. The last Spanish dollar was minted at the Potosí mint in 1825. The United Kingdom had adopted a very successful gold standard in 1821, and so the year 1825 was an opportune time to introduce
The dinar (Arabic: دينار) is the currency of Libya. Its ISO 4217 code is "LYD". The dinar is subdivided into 1000 dirham (درهم). It was introduced in 1971 and replaced the pound at par. It is issued by the Central Bank of Libya, which also supervises the banking system and regulates credit. In 1972, the Libyan Arab Foreign Bank was established to deal with overseas investment. Ali Mohammed Salem, deputy governor of Central Bank of Libya stated the exchange rate of Libyan dinar would be pegged to special drawing rights for one to three years, according to an interview to Reuters on 27 December 2011.
Until 1975, old coins denominated in milliemes (equal to the dirham) circulated. In 1975, coins were introduced in denominations of 1, 5, 10, 20, 50 and 100 dirham which bore the coat of arms of the Federation of Arab Republics. These were followed in 1979 by a second series of coins, in the same denominations, which bore a design of a horseman in place of the arms. ¼ and ½ dinar coins were issued in 2001 and 2004, respectively. In 2009, new 50, 100 dirhams, ¼ and ½ dinar coins were issued. 1, 5, 10, and 20 dirham coins are rarely used as units of exchange. However, they still retain
The peso (sign: $; code: MXN) is the currency of Mexico. Modern peso and dollar currencies have a common origin in the 15th–19th century Spanish dollar, most continuing to use its sign, "$". The Mexican peso is the 12th most traded currency in the world, the third most traded in the Americas, and by far the most traded currency in Latin America. The current ISO 4217 code for the peso is MXN; prior to the 1993 revaluation (see below), the code MXP was used. The peso is subdivided into 100 centavos, represented by "¢". The name was originally used in reference to pesos oro (gold weights) or pesos plata (silver weights). The literal English translation of the Spanish word peso is weight. As of August 1, 2012, the peso's exchange rate was 16.37 per euro and 13.38 per U.S. dollar.
The peso was originally the name of the eight-real coins issued in Mexico by Spain. These were the so-called Spanish dollars or pieces of eight in wide circulation in the Americas and Asia from the height of the Spanish Empire until the early 19th century. After Mexico gained its independence in 1821, the new government continued the Spanish monetary system of 16 silver reales = 1 gold escudo, with the peso of
The austral was the currency of Argentina between June 15, 1985 and December 31, 1991. It was subdivided into 100 centavos. The symbol was an uppercase A with an extra horizontal line (see image). This symbol appeared on all coins issued in this currency (including centavos), to distinguish them from earlier currencies. The ISO 4217 code is ARA.
The austral replaced the peso argentino at a rate of 1 austral = 1000 pesos argentinos. It was itself replaced by the peso at a rate of 1 peso = 10,000 australes.
In 1985, coins were introduced for ½, 1, 5, 10 and 50 centavos. The ½ centavo was only issued in 1985, whilst production of the 1 centavo ceased in 1987, 5 centavo ceased in 1988, and that of the other centavo coins ended in 1989. In 1989, 1, 5 and 10 austral coins were issued, followed in 1990 and 1991 by 100, 500 and 1,000 austral denominations.
In 1985, provisional issues were made consisting of 1000, 5000 and 10,000 peso argentino notes over stamped with the values 1, 5 and 10 australes.
Between 1985 and 1991, the following notes were issued by the Banco Central:
All banknotes except the provisional types show on the back an image of Liberty with a torch and shield. The
The Lithuanian litas (ISO currency code LTL, symbolized as Lt; plural litai or litų) is the currency of Lithuania. It is divided into 100 centų (genitive case; singular centas, nominative plural centai). The litas was first introduced in 1922 after World War I, when Lithuania declared independence and was reintroduced on June 25, 1993, following a period of currency exchange from the ruble to the litas with the temporary talonas then in place. The name was modeled after the name of the country (similarly to Latvia and its lats). From 1994 to 2002, the litas was pegged to the U.S. dollar at the rate of 4 to 1. Currently the litas is pegged to the euro at the rate of 3.4528 to 1. The euro was expected to replace the litas by January 1, 2010, but due to the current rate of inflation and the economic crisis, this date will be delayed for another four years until 1 January 2014.
The first litas was introduced on October 2, 1922, replacing the ostmark and ostruble, both of which had been issued by the occupying German forces during World War I. The ostmark was known as the auksinas in Lithuania.
The litas was established at a value of 10 litas = 1US dollar and was subdivided into 100
The franc was the currency of Algeria between 1848 and 1964. It was subdivided into 100 centimes.
The franc replaced the budju when France occupied the country. It was equivalent to the French franc and was revalued in 1960 at a rate of 100 old francs = 1 new franc to maintain the equivalence. The new franc was replaced at par by the dinar in 1964 following Algerian independence granted by France in 1962.
Except for 20-, 50- and 100-franc coins issued between 1949 and 1956, Algeria used the same coins as metropolitan France.
The Banque d'Algérie introduced its first notes in 1861. Denominations of five, 10, 50, 100, 500 and 1000 francs were introduced by 1873, although the 10-franc note was only issued in 1871. In 1944, notes were issued in the name of the Region Economique d'Algérie in denominations of 50 centimes, one and two francs. The Bank of Algeria introduced notes worth 10,000 francs and 5,000 francs in 1945 and 1946, respectively.
In 1949, the Banque d'Algérie et de la Tunisie commenced banknote issue, with denominations of 500, 1000, 5000 and 10,000 francs. These notes were overprinted with denominations of five, 10, 50 and 100 new francs in 1960. The Bank of Algeria
The Belize dollar is the official currency in Belize, formerly known as British Honduras; (currency code BZD) is normally abbreviated with the dollar sign $, or alternatively BZ$ to distinguish it from other dollar-denominated currencies. It is divided into 100 cents. The official value is pegged at 2 BZ$ = 1 US$ since 1978.
The first dollars to circulate in British Honduras were Spanish dollars, some of which were counterstamped with the monogram of a crowned –G-R– (Latin: Georgius Rex, King George.) They circulated between 1765 and 1825 at a value of 6 shillings or 8 pence.
In 1825, an imperial order-in-council was passed for the purpose of introducing the British sterling coinage into all the British colonies. This order-in-council made sterling coinage legal tender; it set the exchange rate between sterling and the Spanish dollar at $1 = 4s 4d. This exchange rate was supposed to be based on the value of the silver in the Spanish dollars as compared to the value of the gold in the British sovereigns. The realistic exchange rate would have been $4.80 = £1 (equivalent to $1 = 4s 2d), and so the unrealistic exchange rate that was contained in the 1825 order-in-council led to the
A Federal Reserve Note, also a United States banknote or U.S. banknote, is a type of banknote used in the United States of America. Denominated in United States dollars, Federal Reserve Notes are printed by the United States Bureau of Engraving and Printing on paper made by Crane & Co. of Dalton, Massachusetts. They are the only type of U.S. banknote produced as of 2012. They are distinct from Federal Reserve Bank Notes, each of which was issued (until 1971) and backed by one, rather than all collectively, of the twelve Federal Reserve Banks.
Federal Reserve Notes are authorized by Section 411 of Title 12 of the United States Code and are issued to the Federal Reserve Banks at the discretion of the Board of Governors of the Federal Reserve System. The notes are then put into circulation by the Federal Reserve Banks, at which point they become liabilities of the Federal Reserve Banks and obligations of the United States.
Federal Reserve Notes are legal tender, with the words "this note is legal tender for all debts, public and private" printed on each note. (See generally 31 U.S.C. § 5103.) They have replaced United States Notes, which were once issued by the Treasury Department.
The Old Taiwan dollar (Chinese: 舊臺幣 or Chinese: 舊台幣), sometimes called Old Taiwan yuan, was the currency of Taiwan, Republic of China from 1946 to 1949. It was issued by the Bank of Taiwan.
Taiwan was under Japanese rule from 1895 to 1945 and the colonial government of Taiwan issued the Taiwan yen during this period through the Bank of Taiwan. In 1945, after the Japanese Empire was defeated in World War II, the Republic of China (ROC) assumed control of Taiwan. Within a year, the ROC government assumed control of the Bank of Taiwan and issued Taiwan dollars (also known as Taiwan Nationalist yuan or TWN) as a "provisional" replacement for the Taiwan yen at the rate of one to one. The new banknotes were initially printed in Shanghai, and were shipped to Taipei. After the Nationalists consolidated their control over Taiwan the banknotes were printed in Taipei. The currency was not subdivided, and no coins were issued.
Due to the Chinese Civil War in the late 1940s, Taiwan, like mainland China, suffered hyperinflation. As inflation worsened, the government issued banknotes at higher and higher denominations, up to one million yuan. Because the inflation of the Old Taiwan dollar was
The tālā is the currency of Samoa. It is divided into 100 sene. The terms tālā and sene are the equivalents or transliteration of the English words dollar and cent, in the Samoan language.
The tālā was introduced in 1967, following the country's political independence from New Zealand in 1962. Until that time, Samoa had used the pound, with coins from New Zealand and its own banknotes. The tālā replaced the pound at a rate of 2 tālā = 1 pound, and was therefore equal to the New Zealand dollar. The tālā remained equal to the New Zealand dollar until 1975.
The symbol WS$ is still used for the tālā, representing the country's previous name Western Samoa, used up to 1997, when the word Western was officially removed and the country became known as just Samoa. Therefore, the symbol SAT, ST and T appear to be in use as well.
Sometimes figures are written with the dollar sign in front, followed by "tālā". e.g. $100 tālā.
The Samoan currency is issued and regulated by the Central Bank of Samoa.
The Tālā is the currency of Samoa, or Western Samoa.
Previous to 1967, New Zealand Coins were used in Western Samoa, circulating along side locally issued banknotes.
In 1967, four years after
The pound sterling (symbol: £; ISO code: GBP), commonly called the pound, is the official currency of the United Kingdom, the Crown dependencies (Jersey, Guernsey and the Isle of Man) and the British Overseas Territories of South Georgia and the South Sandwich Islands, British Antarctic Territory and Tristan da Cunha. It is subdivided into 100 pence (singular: penny). A number of nations that do not use sterling also have currencies called the "pound".
The Channel Islands (the Bailiwick of Guernsey and the Bailiwick of Jersey) and the Isle of Man produce their own local issues of sterling; see Guernsey pound, Jersey pound and Manx pound. The pound sterling is also used in Gibraltar (alongside the Gibraltar pound), the Falkland Islands (alongside the Falkland Islands pound) and Saint Helena and Ascension Island (alongside the Saint Helena pound). Gibraltar, Falkland Islands and Saint Helena pounds are separate currencies, pegged at parity to the pound sterling. Within the UK, some banks operating in Scotland and Northern Ireland produce private sterling denominated banknotes.
Sterling is the fourth most traded currency in the foreign exchange market, after the American dollar, the
The króna (plural krónur) (sign: kr; code: ISK) is the currency of Iceland. The króna was historically subdivided into 100 aurar (singular eyrir), but this subdivision is no longer used.
The word króna, meaning "crown", is related to those of other Nordic currencies (such as the Danish krone, Swedish krona and Norwegian krone) and to the Latin word corona ("crown"). The name "Icelandic crown" is sometimes used, for example in the financial markets.
The Danish krone was introduced to Iceland in 1874, replacing the earlier Danish currency, the rigsdaler. In 1885, Iceland began issuing its own banknotes.
The Icelandic króna separated from the Danish krone after the dissolution of the Scandinavian Monetary Union at the start of World War I and Icelandic autonomy from Denmark in 1918. The first coins were issued in 1922.
Iceland's first coins were 10- and 25-aurar pieces introduced in 1922. These were followed in 1925 by 1 króna and 2 krónur pieces and in 1926 by 1-, 2- and 5-aurar pieces. In 1946, the coins' designs were altered to remove the royal monogram (CXR), following Icelandic independence from Denmark in 1944.
Starting in 1967, new coins were introduced due to a considerable
The bolívar fuerte (sign: Bs.F. or Bs.; plural: bolívares fuertes; ISO 4217 code: VEF) is the currency of Venezuela since 1 January 2008. It is subdivided into 100 céntimos and replaced the bolívar (sign: Bs.; plural: bolívares; ISO 4217 code: VEB) at the rate of Bs.F. 1 = Bs. 1,000 because of inflation.
The bolívar was adopted by the monetary law of 1879, replacing the short-lived venezolano at a rate of five bolívares to one venezolano. Initially, the bolívar was defined on the silver standard, equal to 4.5g fine silver, following the principles of the Latin Monetary Union. The monetary law of 1887 made the gold bolívar unlimited legal tender, and the gold standard came into full operation in 1910. Venezuela went off gold in 1930, and in 1934 the bolívar exchange rate was fixed in terms of the U.S. dollar at a rate of 3.914 bolívares = 1 U.S. dollar, revalued to 3.18 bolívares = 1 U.S. dollar in 1937, a rate which lasted until 1941. Until 18 February 1983 (now called Black Friday (Viernes Negro)) by many Venezuelans, the bolívar had been the region's most stable and internationally accepted currency. It then fell prey to high devaluation. Exchange controls were adopted since
The franc was the currency of Cambodia between 1875 and 1885. It was equal to the French franc and was similarly subdivided into 100 centimes. It circulated alongside the piastre (equal to the Mexican peso) with 1 piastre = 5.37 francs. It replaced the tical and was replaced by the piastre. No paper money was issued.
Coins were issued in denominations of 5, 10, 25 and 50 centimes, 1, 2 and 4 francs and 1 piastre. The 5 and 10 centimes were struck in bronze, with the remaining pieces in silver. All the coins were dated 1860 but were minted (mostly in Belgium) in 1875. They all bear the portrait of King Norodom. In about 1900, some of the silver coins were restruck but at approximately 15% reduced weights.
French Indochinese piastre
Forum checks (German: Forumscheck) were a form of hard currency in East Germany. By law all East Germans had to convert immediately any Deutsche Marks (and other western currencies) they possessed into Forum checks at the state bank since 1979. A Forum check mark was worth 1 Deutsche Mark. Forum checks, as well as western currencies, were accepted in Intershops as payment for western consumer goods.
The lempira ( /lɛmˈpɪrə/, sing: L, ISO 4217 code: HNL) is the currency of Honduras. It is subdivided into 100 centavos. The lempira was named after the 16th-century cacique Lempira, a ruler of the indigenous Lenca people, who is renowned in Honduran folklore for leading the (ultimately unsuccessful) local native resistance against the Spanish conquistador forces. He is a national hero, and is honoured on both the 1 lempira note and the 20 and 50 centavos coins.
The lempira was introduced in 1931, replacing the peso at par. In the late 1980s, the exchange rate was two lempiras to the U.S. dollar (the 20 centavos coin is called a daime as it was worth the same as a U.S. dime). As of July 18th, 2011, the lempira was quoted at 18.875 HNL to 1 USD. U.S. dollars are widely accepted as currency on the Bay Islands, but the mainland mainly deals in Lempiras. Businesses in major tourist centers on the mainland will also generally accept dollars.
In 1931, coins were introduced in denominations of 5, 20 & 50 centavos & 1 lempira. 1, 2 & 10 centavos coins were added in 1935, 1939 & 1932 respectively. The silver 1 lempira coins ceased production in 1937, with the other silver coins (20 & 50
The forint (sign: Ft; code: HUF) is the currency of Hungary. It is divided into 100 fillér, although fillér coins are no longer in circulation. The introduction of the forint on 1 August 1946 was a crucial step of the post-WWII stabilization of the Hungarian economy, and the currency remained relatively stable until the 1980s. Transition to market economy in the early 1990s deteriorated the value of the forint, inflation peaked at 35% in 1991. Since 2001, inflation is single digit and the forint was declared fully convertible. As a member of the European Union, the long term aim of the Hungarian government is to replace the forint with the euro.
The forint's name comes from the city of Florence, where golden coins were minted from 1252 called fiorino d'oro. In Hungary, florentinus (later forint), also a gold-based currency, was used from 1325 under Charles Robert and several other countries followed its example.
Between 1868 and 1892 the forint was the name used in Hungarian for the currency of the Austro-Hungarian Empire, known in German as the Austro-Hungarian gulden or Austrian florin. It was subdivided into 100 krajczár (krajcár in modern Hungarian).
The forint was reintroduced
The franc (French: franc malgache, ISO 4217 code MGF) was the currency of Madagascar until January 1, 2005. It was subdivided into 100 centimes.
The first francs to circulate in Madagascar were French francs. These were supplemented during the First World War by emergency issues, including issues of postage stamps fixed to pieces of card in denominations of 0.05 up to 2 francs.
The Malagasy franc was introduced on July 1, 1925, by the French government for use in the colony. The currency was issued by the government-owned Banque de Madagascar and was pegged at par to the French franc. Only banknotes were issued with French coins continuing to circulate. When the Comoro Islands became a separate French territory, the name of the issuing bank was changed to Banque de Madagascar et des Comores. The Madagascar-Comores CFA franc (XMCF) replaced the Malagasy franc on December 26, 1945, with the creation of the other CFA francs. The CFA franc was worth 1.7 French francs until 1948 when a devaluation of the French currency increased the rate to 1 CFA franc = 2 French francs. When the new French franc was introduced in 1960, the rate became 1 CFA franc = 0.02 French francs.
The krone [ˈkɾuːnə] (sign: kr; code: NOK) is the currency of Norway and its dependent territories. The plural form is kroner. It is subdivided into 100 øre. The ISO 4217 code is NOK, although the common local abbreviation is kr. The name translates into English as "crown". The Norwegian krone was the thirteenth most traded currency in the world by value in April of 2010, down three positions from 2007.
The krone was introduced in 1875, replacing the Norwegian speciedaler at a rate of 4 kroner = 1 speciedaler. In doing so, Norway joined the Scandinavian Monetary Union, which had been established in 1873. The Union persisted until 1914 but, after its dissolution, Denmark, Norway and Sweden all decided to keep the names of their respective and now separate currencies.
Within the Scandinavian Monetary Union, the krone was on a gold standard of 2480 kroner = 1 kilogram of pure gold (1 krone = 403.226 milligrams gold). This gold standard was restored between 1916 and 1920 and again in 1928 but was suspended permanently in 1931, when a peg to the British pound of 19.9 kroner = 1 pound was established (the previous rate had been 18.16 kroner = 1 pound). In 1939, Norway pegged the krone
Ripple is an open-source software project for developing and implementing a protocol for an open decentralized payment network. In its developed form (it is not substantially implemented), the Ripple network would be a peer-to-peer distributed social network service with a monetary honour system based on trust that already exists between people in real-world social networks; this form is financial capital backed completely by social capital.
Modern monetary systems are built on obligations of the participants to each other. Cash and bonds are government obligations, and loan agreements are the personal obligations of borrowers. Bank account balances are bank obligations, backed by borrower and government obligations. For an obligation to have value, the holder must trust that the issuer can supply that value. Thus the banking network can be described as a trust network.
The primary method of making payment to another participant in the system is by transferring ownership of bank obligations electronically over a chain of accounts in the banking network from payer to recipient. The banking network is essentially hierarchical, with banks acting as sole intermediary between its
The ruble or rouble (Russian: рубль rublʹ, plural рубли rubli; see note on English spelling and Russian plurals with numbers) (code: RUB) is the currency of the Russian Federation and the two partially recognized republics of Abkhazia and South Ossetia. Formerly, the ruble was also the currency of the Russian Empire and the Soviet Union before their dissolution. Belarus and Transnistria use currencies with the same name. The ruble is subdivided into 100 kopeks (sometimes transliterated kopecks, or copecks; Russian: копейка, kopéyka; plural: копейки, kopéyki). The ISO 4217 code is RUB or 643; the former code, RUR or 810, refers to the Russian ruble before the 1998 redenomination (1 RUB = 1000 RUR).
Currently there is no official symbol for the ruble, though the abbreviation руб. is in wide use. Various symbols have been suggested as possibilities, including "РР" (Cyrillic for "RR"), an "R" with two horizontal strokes across the top (similar to the Philippine peso sign), ₱, a "Р" with one horizontal strike.
According to the most popular version, the word "rouble" is derived from the Russian verb руби́ть (rubit'), meaning to chop. Historically, a "rouble" was a piece chopped off a
alt=Alternative text|Sign of Bangladeshi Taka (BDT)
The Taka (Bengali:টাকা, sign: ৳ or Tk, code: BDT) is the currency of Bangladesh. Bangladesh Bank, the central bank of the country, controls the issuance of the currency, except one taka and two taka notes, which are the responsibility of the Ministry of Finance of the government of Bangladesh. The most commonly used symbol for the Taka is Tk and ৳, used on receipts while purchasing goods and services. One taka is subdivided into 100 poisha.
In Bengali, the word "taka" is also commonly used generically to mean any money, currency, or notes. Thus, colloquially, a person speaking Bengali may use "taka" to refer to money regardless of what currency it is denominated in. The currency sign is encoded in Unicode at U+09F3 ৳ bengali currency sign (HTML: ৳).
In 1971, the erstwhile province of East Pakistan became the independent nation of Bangladesh with the Pakistan Rupee as its interim currency. The taka became Bangladesh's currency in 1972, replacing the Pakistani rupee at par. The word "taka" is derived from the Sanskrit term तनक tanka which was an ancient denomination of silver coin. The term taka was widely used in different
The dollar has been the currency of Barbados since 1935. The present dollar has the ISO 4217 code BBD and is normally abbreviated with the dollar sign "$" or, alternatively, "Bds$" to distinguish it from other dollar-denominated currencies. It is divided into 100 cents. On 22 October 2010 it was reported that the international rating agency Standard & Poor's (S&P) rated the currency of Barbados as "BBB-/A-3".
The history of currency in the British colony of Barbados closely follows that of British Eastern Caribbean territories in general. Even though Queen Anne's proclamation of 1704 brought the gold standard to the West Indies, silver pieces of eight (Spanish dollars and later Mexican dollars) continued to form a major portion of the circulating currency right into the latter half of the nineteenth century.
Britain adopted the gold standard in 1821 and an imperial order-in-council of 1838 resulted in Barbados formally adopting the British sterling coinage in the year 1848. However, despite the circulation of British coins in Barbados the silver pieces of eight continued to circulate alongside them and the private sector continued to use dollar accounts for reckoning. The
The koruna, known as the Protectorate crown (in Czech: Protektorátní koruna), was the currency of the Protectorate of Bohemia and Moravia between 1939 and 1945. It was subdivided into 100 haléřů.
The Bohemian and Moravian koruna replaced the Czechoslovak koruna at par and was replaced by the reconstituted Czechoslovak koruna, again at par. It was pegged to the Reichsmark at a rate of 1 Reichsmark = 10 koruna and was initially equal in value to the Slovak koruna, although this currency was devalued in 1940.
In 1940, zinc 10, 20 and 50 haléřů coins were introduced, followed by zinc 1 koruna in 1941. The reverse designs were very similar to the earlier Czechoslovak coins.
Czechoslovak banknotes for 1 and 5 korun were stamped (and later printed) with "Protektorat Böhmen und Mähren" over "Protektorát Čechy a Morava," and subsequently issued in Bohemia and Moravia beginning on February 9, 1940. These were followed by regular government issues of 1, 5, 50 and 100 korun in 1940, 10 korun in 1942, and 20 and 50 korun in 1944. Nationalbank Für Böhmen und Mähren in Prag (National Bank for Bohemia and Moravia in Prague) introduced 500 and 100 korun notes in 1942, followed in 1943 by
The Guinean franc (French: franc guinéen, ISO 4217 code: GNF) is the currency of Guinea.
The first Guinean franc was introduced in 1959 to replace the CFA franc. There were 1, 5, 10 and 25 francs coins (made of aluminium bronze) with banknotes (dated 1958) in 50, 100, 500, 1000, 5000 and 10,000 francs denominations. A second series of banknotes dated 1er MARS 1960 was issued on 1 March 1963, without the 10,000 francs. This series was printed without imprint by Thomas De La Rue, and includes more colors, enhanced embossing, and improved security features. A new issue of coins in 1962 was made of cupronickel.
In 1971, the franc was replaced by syli at a rate of 1 syli = 10 francs.
The Guinean franc was reintroduced as Guinea's currency in 1985, at par with the syli. The coins came in denominations of 1, 5 and 10 francs, with 25 francs (1987) and 50 francs (1994) added later. Banknotes were issued in denominations of 25, 50, 100, 500, 1000 and 5000 francs.
A second series issued in 1998 dropped the 25 and 50 francs banknotes, since they had been replaced by coins. 2006, third issue were introduced in denomination of 500, 1000 and 5000 francs that are similar to previous issues. On 11
The Heller or Häller (help·info), originally a German coin valued at half a pfennig, took its name from the city of Hall am Kocher (today Schwäbisch Hall).
Mints produced the coin from the beginning of the 13th century, based on a previously-produced silver pfennig (Häller Pfennig, sometimes called Händelheller for its depiction of a hand on the front face), but its composition deteriorated with the mixing in copper little by little so that it was no longer considered to be a silver coin. There were red, white and black Hellers. Beginning in the Middle Ages it became a symbol of low worth, and a common German byword is "keinen (roten) Heller wert", lit.: not worth a (red) Heller, i.e. "not worth a tinker's curse".
The term Heller came into wide use as a name for coins of small value throughout many of the German states up to 1873 when, after German unification, Bismarck's administration introduced the Mark and the pfennig as coinage throughout the German Empire.
The German Heller saw a resurrection in 1904 when the government took over responsibility for the currency of German East Africa from the German East Africa Company. The Heller was introduced as 1/100 of a rupie instead of
The pound was the official currency of Jamaica between 1840 and 1969. It circulated as a mixture of British currency and local issues and was always equal to the British pound. The Jamaican pound was also used by the Cayman Islands and Turks and Caicos Islands.
The history of currency in Jamaica should not be considered in isolation of the wider picture in the British West Indies as a whole. See Currencies of the British West Indies. The peculiar feature about Jamaica was the fact that it was the only British West Indies territory to use special regional issues of the sterling copper coinage. (Exceptions to this are a copper penny issued in the Bahamas in 1806, and also the four pence groat coin which was specially issued for all the British West Indies, and later only for British Guiana.)
The earliest money in Jamaica was Spanish copper coins called maravedíes. This relates to the fact that for nearly four hundred years Spanish dollars, known as pieces of eight were in widespread use on the world's trading routes, including the Caribbean Sea region. However, following the revolutionary wars in Latin America, the source of these silver trade coins dried up. The last Spanish dollar
The New Zealand dollar (sign: $; code: NZD) is the currency of New Zealand. It is divided into 100 cents.
It is normally written with the dollar sign $, or NZ$ to distinguish it from other dollar-denominated currencies. In the context of currency trading, it is often informally called the "Kiwi", since kiwi are commonly associated with New Zealand and the $1 coin depicts a kiwi. It is one of the 10 most-traded currencies in the world being approximately 1.6% of global foreign exchange market daily turnover in 2010. (see Global Foreign Exchange Market section below)
Prior to the introduction of the New Zealand dollar in 1967, the New Zealand pound was the currency of New Zealand, which had been distinct from the pound sterling since 1933. The pound used the £sd system, in which the pound was divided into 20 shillings and one shilling was divided into 12 pence, which by the 1950s was considered complicated and cumbersome.
Switching to decimal currency had been proposed in New Zealand since the 1930s, although only in the 1950s did any plans come to fruition. In 1957, a committee was set up by the Government to investigate decimal currency. The idea fell on fertile ground, and in
The sol was the currency of Peru between 1863 and 1985. It had the ISO 4217 currency code PEH. It was subdivided into 10 dineros or 100 centavos.
The sol was introduced in 1863 when Peru completed its decimalization, replacing the real at a rate of 1 sol = 10 reales. The sol also replaced the Bolivian peso, which had circulated in southern Peru, at the rate of 1 sol = 1.25 Bolivian pesos. Between 1858 and 1863, coins had been issued denominated in reales, centavos and escudos. The sol was initially pegged to the French franc at a rate of 1 sol = 5 francs (5.25 soles to the British pound and 1.08 soles to the US dollar).
In 1880 and 1881, silver coins denominated in pesetas, were issued, worth 20 centavos to the peseta. In 1881, the inca, worth ten soles, was introduced for use on banknotes. The peg to the franc was replaced in 1901 by a link to sterling at a rate of 10 soles = 1 pound, with gold coins and banknotes issued denominated in libra. This peg was maintained until 1930 when Peru left the gold standard and established an official rate of 2.5 soles = 1 USD, a rate which remained until 1946. In 1933, banknotes were issued once more denominated in soles, now called soles de
The marka (marka polska, abbreviated mp, plural marki, marek) was the currency of the Kingdom of Poland and of the Republic of Poland between 1917 and 1924. It was subdivided into 100 fenigow (singular fenig), much like its German original after which it was modelled (see German mark).
During the Great War, in 1915, after defeating the Russians, the Central Powers occupied the whole territory of the former Congress Poland and appointed two Governors General: a German (Hans Hartwig von Beseler) in Warsaw and an Austro-Hungarian (Karl Kuk) in Lublin. The civil administration of the country was laid into the hands of imported German (mostly Prussian) and Austrian (mostly Polish) officials. Four currencies circulated: the Russian ruble, the German Papiermark, the German Ostruble and the Austro-Hungarian krone. On December 9 the following year, after consultations with the Austrians, the chief of the German Administration, Wolfgang von Kries proclaimed the foundation of a new bank, called the Polish Loan Bank (Polska Krajowa Kasa Pożyczkowa) and the creation of a new currency unit, the marka, equivalent to the German mark. The stability of the new currency was guaranteed by the German
The scudo was a monetary unit of Bolivia between 1827 and 1864. It replaced the escudo and was divided into 16 soles. It was replaced by the boliviano at a rate of 1 scudo = 2 bolivianos.
See Bolivian sol.
The franc (Arabic: فرنك) is the currency of Djibouti. The ISO 4217 currency code is DJF. Historically it was subdivided into 100 centimes.
From 1884, when Djibouti became a French protectorate, the French franc circulated alongside the Indian rupee and the Maria Theresa thaler. These coexisted with 2 francs = 1 rupee and 4.2 francs = 1 Maria Theresa thaler.
From 1908, francs circulating in Djibouti were legally fixed at the value of the French franc. Starting in 1910, banknotes were issued for the then colony by the Bank of Indochina. Chamber of Commerce paper money and tokens were issued between 1919 and 1922.
In 1948, the first coins were issued specifically for use in Djibouti, in the name of the "Côte Française des Somalis". In 1949, an independent Djiboutian franc came in to being when the local currency was pegged to the US dollar at a rate of 214.392 francs = 1 dollar. This was the value which the French franc had had under the Bretton Woods system until a few months before. Consequently, the Djiboutian economy was not affected by the further devaluations of the French franc.
In 1952, the Public Treasury took over the production of paper money. The change of name to "French
The syli was the currency of Guinea between 1971 and 1985. It was subdivided into 100 cauris. The word syli means "elephant", while cauri refers to the shells formerly used as currency. The syli replaced the Guinean franc at a rate of 1 syli = 10 francs.
Coins of 50 cauris, 1, 2 and 5 sylis were made of aluminium. Banknotes of the 1971 series were issued in denominations of 10, 25, 50 and 100 sylis. A second series of banknotes was issued in 1980, this time in different colours and with four additional denominations – 1, 2, 5 and 500 sylis notes.
The syli was replaced by the Guinean franc in 1985 at par.
The Indian rupee (₹) is the official currency of the Republic of India. The issuance of the currency is controlled by the Reserve Bank of India.
The modern rupee is subdivided into 100 paise (singular paisa), although this division is now theoretical; as of 30 June 2011, coin denominations of less than 50 paise ceased to be legal tender. Banknotes are available in nominal values of 5, 10, 20, 50, 100, 500 and 1000 rupees. Rupee coins are available in denominations of 1, 2, 5, 10, 100 and 1000; of these, the 100 and 1000 coins are for commemorative purposes only; the only other rupee coin has a nominal value of 50 paise, since lower denominations have been officially withdrawn.
The Indian rupee symbol (officially adopted in 2010) is derived from the Devanagari consonant "र" (Ra) with an added horizontal bar. The symbol can also be derived from the Latin consonant "R" by removing the vertical line, and adding two horizontal bars (like the symbols for the Japanese yen and the euro). The first series of coins with the rupee symbol was launched on 8 July 2011.
The Reserve Bank manages currency in India.The Reserve Bank derives its role in currency management on the basis of the
The metical (plural: meticais) is the currency of Mozambique, abbreviated with the symbol MZN or MTn. It is nominally divided into 100 centavos.
The metical (MZM) replaced the escudo at par on 16 June 1980. It was divided into 100 centavos. The metical underwent severe inflation. After the revaluation of the Romanian leu, the metical briefly became the least valued currency unit, at a value of about 24,500 meticais per USD, until the Zimbabwean dollar took the title in late August 2005.
On July 1, 2006, Mozambique redenominated the metical at a rate of 1000:1. The new ISO 4217 code is MZN. New coins and banknotes were introduced on July 1, 2006, and the transitional period during which both old and new meticais could be used lasted until December 31, 2006. During the conversion, the new currency was locally abbreviated as MTn, but has since largely returned to MT.
Old meticais will be redeemed by the Bank of Mozambique for a period of six years, until December 31, 2012.
In 1980, coins were introduced in denominations of 50 centavos, 1, 2½, 5, 10 and 20 meticais. The 50 centavos, 2½ and 5 meticais were minted in aluminium, with the 1 metical in brass and the 10 and 20 meticais in
The dollar (currency code NAD) has been the currency of Namibia since 1993. It is normally abbreviated with the dollar sign $, or alternatively N$ to distinguish it from other dollar-denominated currencies. It is divided into 100 cents.
For earlier Namibian currency, see German South West African mark.
The dollar replaced the South African rand, which had been the country's currency while it was under South African rule as South-West Africa 1920-1990. The rand is still legal tender, as the Namibian dollar is linked to the South African rand and can be exchanged on a one-to-one basis locally. Namibia was also part of the Common Monetary Area from independence in 1990 until introduction of the dollar in 1993.
In 1990, moves were under way to replace the rand with a new Namibian currency. The name kalahar was proposed, as the Kalahari Desert is located in eastern Namibia. The name of Namibia's central bank was going to be known as the Namibia Reserve Bank. Denominations of this planned currency included 2, 5, 10, and 20 kalahar. (Note: There were two different designs for the 20 kalahar specimen notes.) However, these plans came to nothing, but some specimen notes were printed in a
Tin Animal Money is early money believed to be first used by the royal courts of Malay Peninsula in the 15th century. These Tin Animal Money later evolved into a form of currency used in Perak, Selangor and Negeri Sembilan. The most common shape was the crocodile money, others include tortoises, elephants, fish, crickets, beetles, and others.
The zaïre was the unit of currency of the Democratic Republic of the Congo and then of the Republic of Zaire from 1967 until 1997. There were two distinct currencies.
The zaïre (symbol: "Z", or sometimes "Ƶ") was introduced in 1967, replacing the Congolese franc at an exchange rate of 1 zaïre = 1000 francs. The zaïre was subdivided into 100 makuta (singular: likuta, symbol: "K"), each of 100 sengi (symbol: "s"). However, the sengi was worth very little and the only sengi denominated coin was the 10 sengi coin issued in 1967. Unusually for any currency, it was common practice to write cash amounts with three zeros after the decimal place, even after inflation had greatly devalued the currency. Inflation eventually caused denominations of banknotes up to 5 million zaïres to be issued, after which the new zaïre was introduced.
In 1967, coins were introduced by the Banque Nationale du Congo in denominations of 10 sengi, 1 and 5 makuta, with the lower two denominations in aluminium and the highest in cupro-nickel. In 1973, the first coins issued by the Banque du Zaïre were issued, cupro-nickel 5, 10 and 20 makuta. In 1987, a new coinage was introduced, consisting of brass 1, 5 and with
An Anna (Hindustani आना ānā) was a currency unit formerly used in India, equal to 1/16 rupee. It was subdivided into 4 Paise or 12 Pies (thus there were 64 paise in a rupee and 192 pies). The term belonged to the Muslim monetary system. The ānā is not commonly used since India decimalised its currency in 1957.
Sometimes, 50 Paise is colloquially referred to as 8 ānās (Atthanni in Hindi and Urdu, and Ettu ānā, pronounced "Enimidi ANaalu" in Telugu, "Ettna" in Tamil, Malayalam and Entu AaNe pronounced as "EntaNe" in Kannada) and 25 Paise as 4 ānās (Chawanni in Hindi and Urdu, and Naal ānā, pronounced "Naalna" in Tamil and Malayalam, and Naalku Aane pronounced as "Naalkane" in Kannada).
There was a coin of one ānā, and also half-ānās of copper and two-ānā pieces of silver. The term ānā is frequently used to express a fraction of 1/16. Thus an Anglo-Indian speaks of two ānās of dark blood (an octoroon), a four-ānā (quarter) crop, an eight-ānā (half) gallop.
Countries Used:Socialist Federal Republic of Yugoslavia
Countries Formerly Used:Serbia and Montenegro
The dinar (Cyrillic script: динар) was the currency of the three Yugoslav states: the Kingdom of Yugoslavia (formerly the Kingdom of Serbs, Croats and Slovenes), the Socialist Federal Republic of Yugoslavia and the Federal Republic of Yugoslavia between 1918 and 2003. The dinar was subdivided into 100 para (Cyrillic script: пара). There were eight distinct dinari, with hyperinflation in the early 1990s causing five revaluations between 1990 and 1994. Six of the eight have been given distinguishing names and separate ISO 4217 codes.
Until 1918, the dinar was the currency of Serbia. It then became the currency of the Kingdom of Serbs, Croats and Slovenes, circulating alongside the krone in Croatia, Slovenia and Bosnia and Herzegovina, with 1 dinar = 4 kronen. The first coins and banknotes bearing the name of the Kingdom of Serbs, Croats and Slovenes were issued in 1920, until which time Serbian coins and banknotes circulated. In 1929, the name of the country changed to Yugoslavia and this was reflected on the currency.
In 1931, an exchange rate of 56.4 dinara = 1 U.S. Dollar was set, which changed to 44 dinara in 1933. In 1937, a tourist exchange rate of 250 dinara = 1 British pound
The East Caribbean dollar (sign: $; code: XCD) is the currency of eight of the nine members of the Organisation of Eastern Caribbean States (the one exception being the British Virgin Islands). It has existed since 1965, being the successor to the British West Indies dollar, and it is normally abbreviated with the dollar sign $ or, alternatively, EC$ to distinguish it from other dollar-denominated currencies. The EC$ is subdivided into 100 cents. It has been pegged to the United States dollar since July 7, 1976 and the exchange rate is US$1 = EC$2.70.
Six of the states using the EC$ are independent states: Antigua and Barbuda, Dominica, Grenada, Saint Kitts and Nevis, Saint Lucia, and Saint Vincent and the Grenadines. The other two are British overseas territories: Anguilla and Montserrat. These states are all members of the Eastern Caribbean Currency Union. The only OECS member not using the East Caribbean dollar as their official currency is the British Virgin Islands. The British Virgin Islands were always problematic for currency purposes due to their proximity to the Danish West Indies which became the US Virgin Islands in 1917. Officially, the British Virgin Islands used to
Countries Formerly Used:Kingdom of the Netherlands
Guilder is the English translation of the Dutch gulden — from Old Dutch for 'golden'. The guilder originated as a gold coin (hence the name) but has been a common name for a silver or base metal coin for some centuries. The name has often been interchangeable with florin.
The guilder was used most in the Netherlands (as the Dutch guilder), until it was replaced by the euro on 1 January 2002. The Netherlands Antillean guilder is currently the only guilder which is in use, which after the dissolution of the Netherlands Antilles remained the currency of the new countries Curaçao and Sint Maarten and (until 1 January 2011) the Caribbean Netherlands.
One-and-a-half guilder was called a daalder (see thaler); two-and-a-half guilder was called a rijksdaalder. The word daalder/thaler is the origin of dollar.
Historical guilders or guldens:
Other coin names that are derived from the gold of which they were once made:
The pound was the currency of Pennsylvania until 1793. It was created as a response to the global economic downturn caused by the collapse of the South Sea Company. Initially, the British pound and certain foreign coins circulated, supplemented from 1723 by local paper money, called Colonial Scrip. Although these notes were denominated in pounds, shillings and pence, they were worth less than sterling, with 1 Pennsylvanian shilling = 9 pence sterling.
The Pennsylvania Pound was first conceived by Francis Rawle, who can be rightly called The Father of the Pennsylvania Pound.
In March 1723, it issued Colonial Scrip, paper bills of credit to the amount of $60,000, made them a legal tender in all payments on pain of confiscating the debt or forfeiting the commodity, imposed sufficient penalties on all persons who presumed to make any bargain or sale on cheaper terms in case of being paid in gold or silver, and provided for the gradual reduction of the bills by enacting that one-eighth of the principal, as well as the whole interest, should be paid annually. Pennsylvania made no loans but on land security or plate deposited in the loan office, and obliged borrowers to pay 5% for the
The Spanish dollar (also known as the piece of eight (peso de ocho), the real de a ocho or the eight-real coin) is a silver coin, of approximately 38 mm diameter, worth eight reales, that was minted in the Spanish Empire after a Spanish currency reform in 1497. Its purpose was to correspond to the German thaler.
The Spanish dollar was widely used by many countries as international currency because of its uniformity in standard and milling characteristics. Some countries countersigned the Spanish dollar so it could be used as their local currency.
The Spanish dollar was the coin upon which the original United States dollar was based, and it remained legal tender in the United States until the Coinage Act of 1857. Because it was widely used in Europe, the Americas, and the Far East, it became the first world currency by the late 18th century. Aside from the U.S. dollar, several other existing currencies, such as the Canadian dollar, the Japanese yen and the Chinese yuan, as well as several currencies in Latin America and the Philippine peso, were initially based on the Spanish dollar and other 8-reales coins. Diverse theories link the origin of the "$" symbol to the columns and
The Sudanese pound (Arabic: جنيه سوداني junaih) is the currency of Sudan and also used in South Sudan until finalization of the introduction of the South Sudanese pound. Both Arabic and English names for the denominations appear on the country's banknotes and coins. On 24 July 2011, Sudan launched a new currency. The new Sudanese pound note has certain symbols absent and a redrawn map of the country after the secession of the south.
The first pound to circulate in Sudan was the Egyptian pound. Both Muhammad ibn Abdalla (the Mahdi) and Abdallahi ibn Muhammad (the Khalifa) issued coins which circulated alongside the Egyptian currency. The Egyptian pound circulated until its replacement by Sudan's own pound in 1956 at par. From 30 December 1969 until 21 September 1971, the Sudanese pound was at par with the pound sterling.
The pound was subdivided into 100 qirush (Arabic: قروش, singular qirsh, قرش, English: piastre). During the rule of the Mahdi and Khalifa, the qirsh was subdivided into 40 para. From 1916, the Egyptian qirsh was subdivided into 10 millim (ملّيمات, singular: ملّيم), this was adopted in 1956 in Sudan.
The pound was replaced in 1992 by the dinar (SDD) at a rate of 1
The tangka (Tibetan: Tam or dngul Tam = silver tangka) was a currency of Tibet until 1941. It was subdivided into 15 skar or 1½ sho and, from 1909, it circulated alongside the srang, worth 10 sho.
Coins struck to the tangka standard were first minted in 1763/64 and 1785 and in larger numbers from 1791 to 1948. They exhibit a wide array of varieties and yet maintain a consistent fabric and type.
The first tangkas were struck in Nepal from about 1640. From this period onwards many Nepalese tangkas were exported to Tibet. Subsequently silver coins of a reduced weight standard, mohars, were struck by the kings of the three Malla kingdoms which shared the Kathmandu valley. In the 18th century special debased mohars were struck by Nepal for Tibet. In 1763/4 and 1785 the first tangkas were minted in Tibet. These followed the Nepalese fabric and type with minor differences to assert their local origins. In 1791, the Tibetan government opened a mint and started striking the so called kong par tangkas. Its operations were suspended two years later but it re-opened in about 1836.
China opened another mint in Lhasa in 1792, where the minting of the Sino-Tibetan tangka took place in 1792 (only
Shah (Ukrainian: шаг) was the name of several currencies used in Ukraine. The name derives from shilling via shelyag (sheleg; Russian: шеляг, шелег; Polish: szeląg). The forms shahy (шаги, for 2 to 4) and shahiv (шагiв, for five or more) are declensional plurals of the noun used in denominations, for example, 2 shahy, 20 shahiv.
The term "shah" was the Ukrainian name of the Polish-Lithuanian Commonwealth's silver coin of 17th-18th centuries with face value of 3 grosz, coined since 1528, especially during the times of Sigismund III Vasa. Later, the name was transferred to the Russian copper coin of 2 kopecks. Since 1839 when silver money counting was reinstated in the Russian Empire, the term shah was transferred to the silver ½ kopeck. This term for the kopeck was in use until 1917.
In 1917, banknotes were introduced in the newly independent Ukraine. These were denominated in shah, hryvnia and karbovanets, with 100 shahiv = 1 hryvnia and 2 hryvni = 1 karbovanets.
At the beginning of the 20th century, during World War I (1914—1918), many countries issued currency in the form of stamps. It was done similarly in early independent Ukrainian states: in West Ukrainian National Republic
The "ticket flag" franc (French: Billet drapeau) was a currency issued by the United States for use in Allied-occupied France in the wake of the Battle of Normandy. With the swift take-over of sovereignty by General Charles de Gaulle, who considered the US occupation franc as “counterfeit money”, the currency rapidly faded out of use in favour of the pre-war French franc. First Series-Supplemental French Franc Currency Second Series-Provisional French Franc Currency
The West African CFA franc (French: franc CFA or simply franc, ISO 4217 code: XOF) is the currency of eight independent states in West Africa: Benin, Burkina Faso, Côte d'Ivoire, Guinea-Bissau, Mali, Niger, Sénégal and Togo. The acronym CFA stands for Communauté Financière d'Afrique ("Financial Community of Africa") or Communauté Financière Africaine ("African Financial Community"). The currency is issued by the BCEAO (Banque Centrale des États de l'Afrique de l'Ouest, "Central Bank of the West African States"), located in Dakar, Senegal, for the members of the UEMOA (Union Économique et Monétaire Ouest Africaine, "West African Economic and Monetary Union"). The franc is nominally subdivided into 100 centimes but no centime denominations have been issued.
In several central African states, the Central African CFA franc, which is of equal value to the West African CFA franc, is in circulation. They are both the CFA franc.
The CFA franc was introduced to the French colonies in west Africa in 1945, replacing the French West African franc. The west African colonies and territories using the CFA franc were Côte d'Ivoire, Dahomey, French Sudan, Mauritania, Niger, Sénégal, Togo and Upper
The peso was a promissory note issued on the Falklands Islands (Spanish: Islas Malvinas) by Luis Vernet from around 1828 until the collapse of his settlement in August 1833. Vernet, who was appointed Governor by the United Provinces of the River Plate in 1829, paid workers on the islands in these promissory notes.
Following the Lexington raid in 1831, the settlement was in some disarray. When Vernet's deputy, Matthew Brisbane, returned in March 1833, he devalued these promissory notes as a reflection of Vernet's reduced status. This combined with the attempted re-assertion of authority after months of anarchy following the Lexington raid led a gang of Creole and Indian gauchos to run amok in the settlement killing the five senior members of Vernet's settlement, including Brisbane.
So many of these notes were issued that they continued in use as a currency long after the British return in 1833. So much was still circulating 10 years later, even in the Government treasury, that Governor Moody issued hand written notes in exchange.
Paper money was issued in denominations of 1, 2, 5 and 10 pesos. The notes were uniface and printed in black ink.
The dinar is the official currency of several countries.
The history of the dinar dates to the gold dinar, an early Islamic coin corresponding to the Byzantine denarius auri. The gold dinar has been revived as a bullion gold coin called the Islamic gold dinar.
The word "dinar" in English is borrowed from the Arabic dīnār, which in turn was borrowed from Greek δηνάριον, itself from Latin dēnārius (q.v.).
The 8th century English king Offa of Mercia minted copies of Abbasid dinars struck in 774 by Caliph Al-Mansur with "Offa Rex" centered on the reverse. The moneyer visibly had no understanding of Arabic as the Arabic text contains many errors. Such coins may have been produced for trade with Islamic Spain.
The som (Kyrgyz: сом, sometimes transliterated as "sum" or "soum") is the currency of the Kyrgyz Republic in Central Asia. The ISO 4217 currency code is KGS. The som is sub-divided into 100 tyiyn (Kyrgyz: тыйын). The som was introduced on May 10, 1993, replacing the Soviet ruble at a rate of 1 som = 200 rubles.
In the Soviet Union, speakers of Kazakh, Kyrgyz and Uzbek called the ruble the som, and this name appeared written on the back of banknotes, among the texts for the value of the bill in all 15 official languages of the Union. The word som (sometimes transliterated "sum" or "soum") means "pure" in Kazakh, Kyrgyz, Uyghur and Uzbek, as well as in many other Turkic languages. The word implies "pure gold".
Circulation coins were first introduced in January 2008, making Kyrgyzstan second to last of the former Soviet republics to issue them. The only remaining republic yet to introduce official coinage is Belarus. This move came with growing demand from vendors for coins, especially from slot machine industries and those desiring a more efficient system for collecting fare money. The coins were issued in denominations of 10 and 50 tiyin (also spelt tyiyn & tyin) made of brass
The đồng (English pronunciation: /ˈdɒŋ/, Vietnamese: [ɗôŋm]) was the currency of North Vietnam from 3 November 1946 to 2 May 1978. It was subdivided into 10 hào, each itself divided into 10 xu.
The first đồng issued by the communists controlling northern Vietnam was introduced on 3 November 1946 and replaced the French Indochinese piastre at par. Two revaluations followed. In 1951, the second đồng was introduced at a rate of 1 1951 đồng = 100 1946 đồng. However, some sources say there were two consecutive revaluations in 1951 and 1953, each with factor of 10. In 1954, this became the currency of the newly recognized state of North Vietnam, with an exchange rate to the still circulating piastre and South Vietnamese đồng of 32 northern đồng = 1 piastre or southern đồng. In 1956, the đồng was pegged to the Chinese renminbi yuan at a rate of 1.47 đồng = 1 yuan.
On 28 February 1959, another đồng replaced the second at a rate of 1 1959 đồng = 1000 1951 đồng. An exchange rate with the Soviet ruble was established in 1961, with 3.27 đồng = 1 ruble. On May 3, 1978, following the unification of Vietnam, the đồng was also unified. 1 new đồng = 1 northern đồng = 0.8 southern "liberation"
The rand (sign: R; code: ZAR) is the currency of South Africa. It takes its name from the Witwatersrand (White-waters-ridge in English), the ridge upon which Johannesburg is built and where most of South Africa's gold deposits were found. The rand has the symbol "R" and is subdivided into 100 cents, symbol "c". The ISO 4217 code is ZAR, from Dutch Zuid-Afrikaanse rand. (South African rand). Before 1961, the Dutch language was one of the official languages of South Africa.
The rand is the currency of the Common Monetary Area between South Africa, Swaziland and Lesotho. Although Namibia withdrew from the Common Monetary Area, the rand is still legal tender there.
The rand was introduced on 14 February 1961. A Decimal Coinage Commission had been set up in 1956 to consider a move away from the denominations of pounds, shillings and pence, submitting its recommendation on 8 August 1958. It replaced the South African pound as legal tender, at the rate of 2 rand = 1 pound or 10 shillings to the rand. The government introduced a mascot, Decimal Dan, "the rand-cent man" to familiarise the populace with the new currency. This took place in the same year that the Republic of South Africa was
Uruguayan peso has been a name of the Uruguayan currency since Uruguay's settlement by Europeans. The present currency, the peso uruguayo (ISO 4217 code: UYU) was adopted in 1993 and is subdivided into 100 centésimos.
Uruguay obtained monetary stability in 1896, based on the gold standard. This favorable state of affairs ended after World War One. An unsettled period followed. Economic difficulties after World War Two produced inflation, which became serious after 1964 and continued into the 1970s.
The peso was replaced in November 1973 by the nuevo peso (new peso; ISO 4217 code: UYN) at a rate of 1 new peso for 1000 old pesos. The nuevo peso was also subdivided into 100 centésimos.
After further inflation, the peso uruguayo (ISO 4217 code: UYU) replaced the nuevo peso on March 1, 1993, again at a rate of 1 new for 1000 old.
Uruguayans became accustomed to the constant devaluation of their currency. Uruguayans refer to periods of real appreciation of the currency as atraso cambiario, which literally means that "the exchange rate is running late". As a consequence of the instability of the local currency, prices for most big-ticket items (real estate, cars and even executives'
Vermont coppers is the name given to copper coins issued by the Vermont Republic. The coins were first struck in 1785 and continued to be minted until Vermont's admission to the United States in 1791 as the State of Vermont.
On June 10, 1785, the House of Representatives of the Freemen of Vermont met to select a committee of three to consider a request from Reuben Harmon, Jr. of Rupert to mint copper coins for the new entity Vermont. Though Vermont's legislative branch at this period was unicameral, the Governor's Council, a part of the executive branch, acted as a sort of upper house. The Governor's Council appointed one of its members to join the committee studying the proposal. On June 15, 1785, the committee presented to the House of Representatives of the Freemen of Vermont their recommendation that Vermont grant Harmon "...the exclusive right of coining Copper within this State for the term of two years..." The approved language required the coins to have a minimum weight of one-third of an ounce troy weight (160 grains). The House approved the measure and sent the recommendation to the Governor's Council which concurred. On June 17, 1785, Harmon posted a required bond and
The dollar (ISO 4217 code: BMD) is the currency of Bermuda. It is normally abbreviated with the dollar sign $ or, alternatively, BD$ to distinguish it from other dollar-denominated currencies. It is subdivided into 100 cents. The Bermudian dollar is not normally traded outside of Bermuda.
For nearly four hundred years Spanish dollars, known as pieces of eight were in widespread use on the world's trading routes, including the Caribbean Sea region. However, following the revolutionary wars in Latin America, the source of these silver trade coins dried up. The last Spanish dollar was minted at the Potosi mint in 1825. The United Kingdom had adopted a very successful gold standard in 1821, and so the year 1825 was an opportune time to introduce the British sterling coinage into all the British colonies. An imperial order-in-council was passed in that year for the purposes of facilitating this aim by making sterling coinage legal tender in the colonies at the specified rating of $1 = 4s 4d (One Spanish dollar to four shillings and four pence sterling). As the sterling silver coins were attached to a gold standard, this exchange rate did not realistically represent the value of the
In 1885, the French Indochina administration, governing the Protectorates of Annam, Cambodia, Tonkin and the Colony of Cochinchina, was created by the decree of 22 December. French Indochina Piastre and fractional coins were issued, bearing exactly the same design as the Cochinchina coins.
1878: Copper Sapeque (1/1000 Piastre) Bordeaux Mint, holed in Saigon arsenal.
1879: Copper Sapeque (1/500 Piastre), 1 Cent; Silver 10 Cents, 20 Cents, 50 Cents, 1 Piastre (Essai) Paris Mint
1884: Copper 1 Cent; Silver 10 Cents, 20 Cents, 50 Cents. Paris Mint
1885: All denominations were minted in PROOF quality in limited quantity.
The banknotes of 5, 20 and 100 Dollars/Piastres, issued by the Banque de l'Indochine and similar in design to later French Indochina notes, are currently extremely rare.
The colón (named after Christopher Columbus, known as Cristóbal Colón in Spanish) is the currency of Costa Rica. The plural is colones in Spanish, but English speakers often say colons instead. The ISO 4217 code is CRC.
The symbol for the colón is a c with two slashes. The symbol is encoded at U+20A1 ₡ colon sign (HTML: ₡) and on many English language Windows keyboards using the keystrokes ALT+8353.
The colón sign is not to be confused with U+00A2 ¢ cent sign (HTML: ¢ ¢), or with the Ghanaian cedi, U+20B5 ₵ cedi sign (HTML: ₵). Nonetheless, the commonly available cent symbol '¢' is frequently used locally to designate the colón in price markings and advertisements.
The United States dollar is also accepted unofficially in many places throughout Costa Rica.
The colón was introduced in 1896, replacing the Costa Rican peso at par. The colón is divided into 100 centimos, although, between 1917 and 1919, coins were issued using the name centavo for the 1/100 subunit of the peso.
Because the colón replaced the peso at par, there was no immediate need for new coins in 1896. In 1897, gold 2, 5, 10 and 20 colones were elephants issued, followed by silver 50 centimos,
The dollar (currency code LRD) has been the currency of Liberia since 1943. It was also the country's currency between 1847 and 1907. It is normally abbreviated with the dollar sign $, or alternatively L$ or LD$ to distinguish it from other dollar-denominated currencies. It is divided into 100 cents.
The first Liberian dollar was issued in 1847. It was pegged to the US dollar at par and circulated alongside the US dollar until 1907, when Liberia adopted the British West African pound, which was pegged to sterling.
In 1847, copper 1 and 2 cents coins were issued and were the only Liberian coins until 1896, when a full coinage consisting of 1, 2, 10, 25 and 50 cents coins were introduced. The last issues were made in 1906.
The Treasury Department issued notes between 1857 and 1880 in denominations of 10 and 50 cents, 1, 2, 3, 5 and 10 dollars.
United States currency replaced the British West African pound in Liberia in 1935 . Starting in 1937, Liberia issued its own coins which circulated alongside US currency.
The flight of suitcase-loads of USD paper in the economic collapse following the April 12, 1980 coup d'état created a currency shortage, which was only exacerbated when the
Lira (sign: ₤, £, or L; plural: lire) is the name of the monetary unit of a number of countries, as well as the former currency of Italy, Malta, San Marino, Syria, Lebanon and the Vatican City (replaced in 2002 with the euro) and Israel. The term originates from the value of a Troy pound (Latin libra) of high purity silver. The libra was the basis of the monetary system of the Roman Empire. When Europe resumed a monetary system, during the Carolingian Empire, the Roman system was adopted, the so-called £sd (librae, solidi, denarii).
Particularly this system was kept during the Middle Ages and Modern Age in England, France, and Italy. In each of these countries the libra was translated into local language: pound in England, livre in France, lira in Italy. The Venetian lira was one of the currencies in use in Italy and due to the economic power of the Venetian Republic a popular currency in the Eastern Mediterranean trade.
During the 19th century Egypt and the Ottoman Empire adopted the lira as their national currency, equivalent to 100 piasters or kuruş. When the Ottoman Empire collapsed in years 1918-1922, many among the successor states kept the lira as their national currency. In
The peso (originally established as the peso convertible) is the currency of Argentina, identified by the symbol $ preceding the amount in the same way as many countries using dollar currencies. It is subdivided into 100 centavos. Its ISO 4217 code is ARS. Several earlier currencies of Argentina were also called "peso"; as inflation progressed a new currency with a few zeroes dropped and a different qualifier (peso national currency, peso law 18188, peso argentino...) was introduced. Since 1969 thirteen zeroes have been dropped (a factor of ten trillion).
In recent times the exchange rate hovered around 3 pesos per United States dollar from 2002 to 2008, was around 4 pesos from 2009 to 2011, and has been nearly 5 pesos since the start of 2012. The country's current account surplus has required periodic dollar purchases by the Central Bank to keep the value of the peso relatively undervalued for export competitiveness.
Amounts in earlier pesos were sometimes preceded by a "$" sign and sometimes, particularly in formal use, by symbols identifying that it was a specific currency, for example $m/n100 or m$n100 for pesos moneda nacional. The peso introduced in 1992 is just called peso
The ngultrum (ISO 4217 code BTN) (Dzongkha: དངུལ་ཀྲམ) has been the currency of Bhutan since 1974. It is subdivided into 100 chhertum (called chetrums on coins until 1979).
In 1974, the ngultrum was introduced, replacing the rupee at par. The ngultrum is equal in value to the Indian rupee.
India was key in assisting the Bhutanese government as it developed its economy in the early 1960s. When the ngultrum was introduced, it retained the peg to the Indian rupee which the Bhutanese rupee had maintained. The ngultrum does not exchange independently with other nations' currencies but is interchangeable with the Indian rupee.
In 1974, aluminium 5 and 10 chetrums, aluminium-bronze 20 chhertums and cupro-nickel 25 chetrums and 1 ngultrum were introduced. The 5 chhertum was square and the 10 chhertum was scallop-shaped. A new coinage was introduced in 1979, consisting of bronze 5 and 10 chhertum, and cupro-nickel 25 and 50 chhertum and 1 ngultrum. Aluminium-bronze 25 chhertum were also issued dated 1979. The 5 and 10 chhertum have largely ceased circulating.
On June 2, 1974, 1, 5 and 10 ngultrum notes were introduced by the Royal Government of Bhutan, followed by 2, 20, 50, and 100
The Brunei dollar (Malay: ringgit Brunei, currency code: BND), has been the currency of the Sultanate of Brunei since 1967. It is normally abbreviated with the dollar sign $, or alternatively B$ to distinguish it from other dollar-dominated currencies, It is divided into 100 sen (Malay) or cents (English).
The Brunei dollar is managed together with the Singapore dollar at a 1:1 ratio by the Monetary Authority of Singapore (MAS). (Singapore is one of Brunei's major trading partners.)
Early currency in Brunei included cowrie shells. Brunei is also famous for its bronze teapots, which were used as currency in barter trade along the coast of North Borneo.
Brunei issued tin coins denominated in pitis in AH1285 (AD1868). These were followed by a one cent coin in AH1304 (AD1888). This cent was one hundredth of a Straits dollar.
As a protectorate of Britain in the early 20th century, Brunei used the Straits dollar and later the Malayan dollar and the Malaya and British Borneo dollar until 1967, when it began issuing its own currency.
The Brunei dollar replaced the Malaya and British Borneo dollar in 1967 after the formation of Malaysia and the independence of Singapore. Until June 23,
The Gaucho was the name of a currency intended to be used by Argentina and Brazil in the context of the Argentina-Brazil Integration and Economics Cooperation Program or PICE (Spanish: Programa de Integración y Cooperación Económica Argentina-Brasil) to make interregional payments. It was named after the gauchos typical of both Argentina and Southern Brazil.
On 17 July 1987, in the city of Viedma (Río Negro, Argentina), President Raúl Alfonsín of Argentina and President José Sarney of Brazil signed Protocol Number 20 which stated the following:
Viedma, 17 July 1987
The Ghana Cedi (currency sign: GH¢; currency code: GHS) is the unit of currency of Ghana. The word "cedi" is derived from the Akan word for cowry shell (Cowry shells were once used in Ghana as a form of currency). The new Ghana cedi was introduced on 1 July 2007 at a rate equal to 10,000 old cedis. It was the highest-valued currency unit issued by sovereign countries in Africa in 2007.
One Ghana cedi is divided into one hundred Ghana pesewas (Gp).
A number of Ghanaian coins have also been issued in Sika denominations. These are probably best considered as "medallic" coinage, and may have no legal tender status. The word sika means "gold."
The Ghanaian cedi symbol ¢ is a letter C struck through with a vertical or slightly angled bar. The symbol was accepted for encoding in Unicode as U+20B5 in 2004. It should not be confused with the colón sign ₡ (Unicode: U+20A1; decimal: 8353) or the cent sign ¢ (Unicode: U+00A2; decimal: 162).
However, because some fonts do not provide a cedi character, the cent sign is often used in its place, including all official Ghanaian documents. Unlike the cent sign, however, the cedi always precedes the numerical value and in official use is always
Groschen (Latin: Grossus, German: Groschen (help·info), Italian: grosso or grossone, Czech: groš, Lithuanian: grašis, Estonian: kross, Polish: grosz, Albanian: grosh, Hungarian: garas, Ukrainian: грош, Macedonian: грош, Bulgarian: грош, grosh, Romanian: groş, Russian: грош) was the (sometimes colloquial) name for a coin used in various German-speaking states as well as some non-German-speaking countries of Central Europe (Bohemia, Poland), the Danubian principalities. The name, like that of the English groat, derives from the Italian denaro grosso, or large penny, via the Czech form groš. The Qirsh (also "Gersh", "Grush","Γρόσι" and "Kuruş"), Arabic, Ethiopian, Hebrew, Greek and Turkish names for currency denominations in and around the territories formerly part of the Ottoman Empire, are derived from the same Italian origin.
Names like Groschen, grossus/grossi, grosso, grossone, Grosz, gros, Groš, groat, Grote, Groten, Garas etc. were used in the Middle Ages for all thick silver coins, as opposed to thin silver coins such as deniers or pennies. Historically it was equal to between several and a dozen denarii.
The type was introduced in 1271 by Duke Meinhard II of Tyrol in Meran.
The livre was currency of Jersey until 1834. It consisted entirely of French coins.
Until the 1720s, the currency used was the French livre, subdivided into 20 sous, each of 12 deniers. The commonest coin in circulation was the liard (3 deniers or ¼ of a sou). However, the copper coinage had devalued against silver and by the 1720s liards were being exchanged in St Malo at a rate of 6 to the sou. The consequent cross-border financial speculation caused by the discrepancy in coinage values was threatening economic stability. The States of Jersey therefore resolved to devalue the liard to 6 to the sou. The legislation to that effect implemented in 1729 caused popular riots that shook the establishment. The devaluation was therefore cancelled and the liard remained officially at 4 to the sou until 1834 (and liard remains the Jèrriais word for a farthing).
The Code des Lois of 1771 codified the value of the livre against sterling in order to regulate the exchange of sterling paid to the British garrison and the currency used by the population. The exchange rate was set at 24 livres = 1 pound, making the 2 sous coin equal to a British penny. However, in the early 19th century, an
The shilling (sign: KSh; code: KES) is the currency of Kenya. It is divisible into 100 cents.
The Kenyan shilling replaced the East African shilling in 1966 at par.
The first coins were issued in 1966 in denominations of 5, 10, 25 and 50 cents, and 1 and 2 shillings. Twenty-five cents coins were not minted after 1969; 2 shillings coins were last minted in 1971. In 1985, 5 shillings coins were introduced, followed by 10 shillings in 1994 and 20 shillings in 1998.
Between 1967 and 1978, the portrait of Jomo Kenyatta, the first president of Kenya, originally appeared on the obverse of all of independent Kenya's coins. In 1980, a portrait of Daniel arap Moi replaced Kenyatta until 2005, when the central bank introduced a new coin series that restored the portrait of Kenyatta. The coins are 50 cents and 1 shilling in stainless steel and bi-metallic coins of 5, 10 and 20 shillings. A bi-metallic 40 shilling coin with the portrait of President Kibaki was issued in 2003 to commemorate the fortieth anniversary of independence (1963–2003). New coins with the image of Kenyatta were issued in 2005.
On 14 September 1966, the Kenyan shilling replaced the East African shilling at par, although
The rufiyaa (Dhivehi: ދިވެހި ރުފިޔާ) is the currency of the Maldives. Determining the rate for the US Dollar and the issuance of the currency is controlled by the Maldives Monetary Authority (MMA). The most commonly used symbols for the rufiyaa are MRF and Rf. The ISO 4217 code for Maldivian rufiyaa is MVR. The rufiyaa is subdivided into 100 laari. The name "rufiyaa" is derived from the Hindi word rupiyaa (रुपया), ultimately from Sanskrit rupya (रूप्य; wrought silver). The midpoint of exchange rate is 12.85 Rufiyaa and the rate is permitted to fluctuate within the ± 20% band, i.e. between 10.28 Rufiyaa and 15.42 Rufiyaa
The earliest form of currency used in the Maldives was cowry shells (Cypraea moneta) and historical accounts of travellers indicate that they were traded in this manner even during the 13th century. Ibn Batuta (AD 1344) observed that more than 40 ships loaded with cowry shells were exported each year. A single gold dinar was worth 400,000 shells.
During the 17th and 18th centuries, lärin (parallel straps of silver wire folded in half with dyed Persian and Arabic inscriptions) were imported and traded as currency. This form of currency was used in the Persian Gulf,
The balboa (sign: B/.; ISO 4217: PAB) is, along with the United States dollar, one of the official currencies of Panama. It is named in honor of the Spanish explorer / conquistador Vasco Núñez de Balboa. The balboa is subdivided into 100 centésimos.
The balboa replaced the Colombian peso in 1904 following the country's independence. The balboa has been tied to the United States dollar (which is legal tender in Panama) at an exchange rate of 1:1 since its introduction and has always circulated alongside dollars.
In 1904, silver coins in denominations of 2½, 5, 10, 25 and 50 centésimos were introduced. These coins were weight related to the 25 gram 50 centésimos, making the 2½ centésimos coin 1¼ gram. Its small size led to it being known as the "Panama pill" or "Panama pearl". In 1907, cupro-nickel ½ and 2½ centésimos coins were introduced, followed by cupro-nickel 5 centésimos in 1929. In 1930, coins for ⁄10, ¼ and ½ balboa were introduced, followed by 1 balboa in 1931, which were identical in size and composition to the corresponding U.S. coins. In 1935, bronze 1 centésimo coins were introduced, with 1¼ centésimo pieces minted in 1940.
In 1966, Panama followed the U.S. in changing
The dinar (genitive plural: dinara, Serbian: динар,dinar, динара,dinara, pronounced [dînaːr]) is the currency of Serbia. An earlier dinar was used in Serbia between 1868 and 1918. The earliest use of the dinar dates back to 1214.
The ISO 4217 code for the dinar is RSD, the three-digit identifier is 941, currency symbol is the same (RSD or РСД), while the abbreviation din or дин is still in informal use locally.
The first mention of a "Serbian dinar" dates back to the reign of Stefan Nemanjić in 1214. Until the fall of Despot Stjepan Tomašević in 1459, most of the Serbian rulers minted silver dinar coins. First Serbian dinars, like many other south-European mints, replicated Venetian grosso, including characters in Latin (the word 'Dux' replaced with the word 'Rex'). For many years it was one of the main export articles of medieval Serbia, considering the relative abundance of silver coming from Serbian mines.
Following the Ottoman conquest, different foreign currencies were used up to the mid 19th century. The Ottomans operated coin mints in Novo Brdo, Kučajna and Belgrade. The subdivision of the dinar, the para, is named after the Turkish silver coins of the same name (from the
The rigsdaler was the name of several currencies used in Denmark until 1873. The similarly named Reichsthaler, riksdaler and rijksdaalder were used in Germany and Austria-Hungary, Sweden and the Netherlands, respectively. The similar currencies were often Anglicized as rix-dollar or rixdollar.
The Danish currency system established in 1625 consisted of 12 penning = 1 skilling, 16 skilling = 1 mark, 6 mark = 1 rigsdaler and 8 mark = 1 krone. From 1713, two separate systems coexisted, courant and species, with courant being a debased currency also used for banknote issue. The rigsdaler species contained 4⁄37 of a Cologne mark of fine silver (i.e., 9¼ rigsdaler species equalled one Cologne mark).
In 1813, following a financial crisis, a new currency system was introduced, based on the rigsbankdaler. This was divided into 96 rigsbank skilling and was equal to half a rigsdaler species or 6 rigsdaler courant.
A further change was made in 1854. The rigsdaler species name disappeared and the names rigsbankdaler and rigsbank skilling became rigsdaler and skilling rigsmønt. Thus, there were 96 skilling rigsmønt to the rigsdaler.
In 1873, Denmark and Sweden formed the Scandinavian Monetary
The Eco is the proposed name for the common currency that the West African Monetary Zone plans to introduce in the framework of Economic Community of West African States (ECOWAS). Originally the introduction of the currency was planned for December 1, 2009, however this date was revised to 2015. The original five member states are the Gambia, Ghana, Guinea, Nigeria and Sierra Leone. Liberia joined as of 16 February 2010.
The Goldmark (help·info) (officially just Mark, sign: ℳ) was the currency used in the German Empire from 1873 to 1914. The Papiermark refers to the German currency from 4 August 1914 when the link between the Mark and gold was abandoned.
Before unification, the different German states issued a variety of different currencies, though most were linked to the Vereinsthaler, a silver coin containing 16⅔ grams of pure silver. Although the Mark was based on gold rather than silver, a fixed exchange rate between the Vereinsthaler and the Mark of 3 Mark = 1 Vereinsthaler was used for the conversion. Southern Germany had used the Gulden as the standard unit of account, which was worth 4⁄7 of a Vereinsthaler and, hence, became worth 1.71 (1 5⁄7) Mark in the new currency. Bremen had used a gold based Thaler which was converted directly to the Mark at a rate of 1 gold Thaler = 3.32 (39⁄28) Mark. Hamburg had used its own Mark prior to 1873. This was replaced by the Goldmark at a rate of 1 Hamburg Mark = 1.2 Goldmark.
From January 1, 1876 onwards, the Mark became the only legal tender. The name Goldmark was created later to distinguish it from the Papiermark (paper mark) which suffered a
The Hong Kong dollar (sign: $; code: HKD; also abbreviated HK$) is the currency of Hong Kong. It is the eighth most traded currency in the world. The Hong Kong dollar is subdivided into 100 cents.
In formal Cantonese, the 圓 character is used. In spoken Cantonese, 蚊 is used, perhaps a transliteration of the first syllable of "money", although some suggest that the character is a corruption of 緡. 元 is also used informally. The dollar is divided into 100 cents, with the character 仙 (a transliteration of "cent") used on coins and in spoken Cantonese. 分 is used in Mandarin. The amount of 10 cents is called 1 houh in Cantonese (毫 on coins and in spoken Cantonese, 毫子 in colloquial speech, 角 in Mandarin). The mil was known as the man or tsin in Cantonese (萬 or 千 on coins and in spoken Cantonese and Mandarin).
To express prices in spoken Cantonese, for example $7.80, the phrase is 七個八 (chat go baat, seven units and eight [decimals]); in financial terms, where integer values in cents exist, e.g., $6.75, the phrase is 六個七毫半 (luhk go chat houh bun, six and seven "houh" half) ["bun" in Yale Romanisation sounds like the American pronunciation of "boon"] (fives in cents is normally expressed as
The pound is the currency of Jersey. Jersey is in currency union with the United Kingdom, and the Jersey pound is not a separate currency but is an issue of banknotes and coins by the States of Jersey denominated in pound sterling, in a similar way to the banknotes issued in Scotland and Northern Ireland (see Banknotes of the pound sterling). It can be exchanged at par with other sterling coinage and notes (see also sterling zone).
For this reason, ISO 4217 does not include a separate currency code for the Jersey pound, but where a distinct code is desired JEP is generally used.
Both Jersey and Bank of England notes are legal tender in Jersey and circulate together, alongside the Guernsey pound and Scottish banknotes. Although the Jersey notes are not legal tender but legal currency in the United Kingdom, creditors and traders may accept them if they so choose.
The livre was the currency of Jersey until 1834. It consisted of French coins which, in the early 19th century, were exchangeable for sterling at a rate of 26 livres = 1 pound. After the livre was replaced by the franc in France in 1795, the supply of coins in Jersey dwindled leading to difficulties in trade and payment. In
The Pakistani rupee (Urdu: روپیہ) (sign: ₨; code: PKR) is the official currency of Pakistan. The issuance of the currency is controlled by the State Bank of Pakistan, the central bank of the country. The most commonly used symbol for the rupee is Rs, used on receipts when purchasing goods and services. In Pakistan, the rupee is referred to as the "rupees", "rupaya" or "rupaye". As standard in Pakistani English, large values of rupees are counted in terms of thousands, lakh (100 thousand, in digits 100,000) and crore (10 million, in digits 10,000,000).
The origin of the word "rupee" is found in the Sanskrit word rūp or rūpā, which means "silver" in many Indo-Aryan languages. Rūpaya was used to denote the coin introduced by Sher Shah Suri during his reign from 1540 to 1545 CE.
The Pakistani rupee was put into circulation in Pakistan after the partition of British India in 1947. Initially, Pakistan used Indian coins and notes simply over-stamped with "Pakistan". New coins and banknotes were issued in 1948. Like the Indian rupee, it was originally divided into 16 annas, each of 4 pice or 12 pie. The currency was decimalised on 1 January 1961, with the rupee subdivided into 100 pice,
The real was the currency of Peru until 1863. Sixteen silver reales equalled one gold escudo. The silver coin of 8 reales was also known as the peso.
Initially, the Spanish colonial real was minted. This was replaced by Peruvian currency following liberation in 1826, although the first issues of the Peruvian Republic were made in 1822. The real was replaced in 1863 by the sol at a rate of 1 sol = 10 reales.
During the colonial period, silver coins were minted in denominations of ¼, ½, 1, 2, 4 and 8 reales, with gold coins for ½, 1, 2, 4 and 8 escudos. In 1822, a provisional coinage was issued in the name of the Republic of Peru in denominations of ¼ real, ⅛ and ¼ peso (equal to 1 and 2 reales) and 8 reales. Except for the silver 8 reales, these coins were minted in copper. From 1826, a regular coinage was issued which consisted of the same silver and gold denominations as had been issued during the colonial period.
During the period 1836-1839, when Peru was part of the Peru-Bolivian Confederation, the States and then Republics of North and South Peru issued their own coins. North Peru issued ½, 1, and 8 reales, ½, 1, 2, 4 and 8 escudos whilst South Peru issued ½, 2, 4 and 8 reales,
Vietnamese cash (Vietnamese: văn; Hán tự: 文; French: Sapèque) is a cast round coin with a square hole. The same type of currency circulated in China, Japan and Korea for centuries.
The first Vietnamese coins were cast under the rule of the Đinh Dynasty (968-981).
Cash coins circulated in the 19th century along with silver and gold bars, as well as silver and gold coins known as tiền. Denominations up to 10 tien were minted, with the 7 tiền coins in gold and silver being similar in size and weight to the Spanish 8 real and 8 escudo pieces. These coins continued to be minted into the 20th century, albeit increasingly supplanted by French colonial coinage.
After the introduction of modern coinage by French in 1878, cash coins remained in circulation until 1945 and were valued at the rates of about 500-600 cash for one piastre.
The last king whose name was cast on cash coins died in 1997.
There were several efforts by French administration to produce machine-struck cash (sapeque):
Emperors Khải Định (1916–1925) and Bảo Đại (1925–1945) produced both cast and machine-struck cash.
The Central African CFA franc (French: franc CFA or simply franc, ISO 4217 code: XAF) is the currency of six independent states in central Africa, Cameroon, Central African Republic, Chad, Republic of the Congo, Equatorial Guinea and Gabon. CFA stands for Coopération financière en Afrique centrale ("Financial Cooperation in Central Africa"). It is issued by the BEAC (Banque des États de l'Afrique Centrale, "Bank of the Central African States"), located in Yaoundé, Cameroon, for the members of the CEMAC (Communauté Économique et Monétaire de l'Afrique Centrale, "Economic and Monetary Community of Central Africa"). The franc is nominally subdivided into 100 centimes but no centime denominations have been issued.
In several west African states, the West African CFA franc, which is of equal value to the Central African CFA franc, is in circulation.
The CFA franc was introduced to the French colonies in Equatorial Africa in 1945, replacing the French Equatorial African franc. The Equatorial African colonies and territories using the CFA franc were Chad, French Cameroun, French Congo, Gabon and Ubangi-Shari. The currency continued in use when these colonies gained their independence.
The franc (ISO 4217 code is BIF) is the currency of Burundi. It is nominally subdivided into 100 centimes, although coins have never been issued in centimes since Burundi began issuing its own currency. Only during the period when Burundi used the Belgian Congo franc were centime coins issued.
The franc became the currency of Burundi in 1916, when Belgium occupied the former Germany colony and replaced the German East African rupie with the Belgian Congo franc. Burundi used the currency of Belgian Congo until 1960, when the Rwanda and Burundi franc was introduced. Burundi began issuing its own francs in 1964.
There are plans to introduce a common currency, a new East African shilling, for the five member states of the East African Community by the end of 2015.
In 1965, the Bank of the Kingdom of Burundi issued brass 1 franc coins. In 1968, Bank of the Republic of Burundi took over the issuance of coins and introduced aluminum 1 and 5 francs and cupro-nickel 10 francs. The 5 and 10 francs have continuous milled edges. Second types of the 1 and 5 franc coins were introduced in 1976, featuring the coat of arms.
In 1964, notes of the Bank of Emission of Rwanda and Burundi, in
The customs gold unit (CGU) was a currency issued by the Central Bank of China between 1930 and 1948. In Chinese, the name of the currency was 關金圓, literally "customs gold yuan" but the English name given on the back of the notes was "customs gold unit". It was divided into 100 cents (關金分). As the name suggests, this currency was initially used for customs payments, but in 1942 it was put into general circulation for use by the public at 20 times its face value in terms of the first Chinese yuan.
The customs gold unit was adopted 1 February 1930 to replace the Haikwan (Hǎiguān) or Customs tael (海關両) as the standard for customs payments. It was defined as equal to 601.866 mg fine gold or US$0.40. CGU notes were fully backed by silver and were legal tender for paying import duties. The CGU replaced the Haikwan tael at CGU150 = HkT100.
The CGU's value, fixed against the US dollar, fluctuated against the Chinese yuan, based on the current yuan–dollar and yuan–sterling market exchange rates. After the UK abandoned gold in September 1931, only the yuan–dollar rate was used until 1933, when the sterling price of gold in the London market determined the value of the CGU. Central Bank of
The florin sign (ƒ) is a symbol that is used for the currencies named florin, also called a gulden or guilder. The symbol "ƒ" is the lowercase version of Ƒ of the Latin alphabet. In Unicode it does not have a separate code point, but the U+0192 ƒ latin small letter f with hook (HTML: ƒ ƒ) has "Florin sign" amongst its alternative names. In many serif typefaces, it can often be substituted with a normal italic small-letter f ( f ).
It is used in the following current and obsolete currencies:
The kwacha (ISO 4217: MWK) is the currency of Malawi as of 1971, replacing the Malawian pound. It is divided into 100 tambala. The kwacha replaced other types of currency, namely the UK pound sterling, the South African rand and the Rhodesian dollar, that had previously circulated through the Malawian economy. The exchange rate of the kwacha undergoes fixed periodical adjustments, but since 1994 the exchange rate has floated. In 2005, administrative measures were put in place by Bingu wa Mutharika to peg the exchange rate with other currencies. Banknotes are issued by the Reserve Bank of Malawi. In May 2012, the Reserve Bank of Malawi devalued the kwacha by 34% and unpegged it from the United States dollar.
The name kwacha derives from both the Nyanja and Bemba word for "dawn", while tambala translates as "rooster" in Nyanja. The tambala was so named because a rooster appeared on the first one tambala coin.
The kwacha replaced the Malawian pound in 1971 at a rate of two kwacha to one pound.
As of 9 May 2011 (2011 -05-09) one British pound sterling was equal to 257.7172 kwacha, one US dollar was equal to 152.2933 kwacha and one South African rand was equal to 23.7740 kwacha.
The Prague groschen (Czech: pražský groš, Latin: grossi pragenses, German: Prager Groschen, Polish: Grosz praski) was a groschen-type silver coin that became very common throughout Medieval Central Europe.
It is a silver coin with on the obverse the legend DEI GRATIA REX BOEMIE ("By the grace of God the King of Bohemia") and on the verso GROSSI PRAGENSES ("Prague groschen"). The weight of the coin varies between 3.5 and 3.7 g with a fineness of 933/1000 of silver.
The groschen was subdivided into twelve parvus ("small") coins with a Bohemian heraldic lion sign on the obverse.
Minting of this coin started around 1300 after silver mines had been discovered in Kutná Hora during the reign of the Bohemian king Wenceslaus II. King Wenceslaus II invited the Italian lawyer Gozzius of Orvieto to create a mining code Ius regale montanorum which also was partly was a reform of the coinage. This, and the high amount of silver found in Kutná hora resulted in the implementation of Prague groschen. Because of the high amount of silver used in the coin it became one of the most popular of the early Groschen-type coins in medieval Europe.
In documents of the era, like the Peace of Thorn (1411),
The fillér was the name of various small change coins throughout Hungarian history. It was the ⁄100 subdivision of the Austro-Hungarian and the Hungarian korona, the pengő and the forint. The name derives from the German word Vierer that means 'number four' in English. Originally it was the name of the four-Kreuzer coin. The last fillér coin, worth 50 fillér (0.5 forint) was removed from circulation in 1999, but it continues to be used in calculations, for example in the price of petrol (e.g. 310.9 HUF), or in the prices of telephone calls.
The franc (₣) is the name of several currency units, most notably the Swiss franc, still a major world currency today due to the prominence of Swiss financial institutions and the former currency of France, the French franc until the euro was adopted in 1999 (by law, 2002 de facto). The name is said to derive from the Latin inscription francorum rex ("King of the Franks") on early French coins, or from the French franc, meaning "free" (and "frank").
The countries that use francs include Switzerland, Liechtenstein, and most of the Francophone countries of Africa. Before the introduction of the euro, francs were also used in France, Belgium and Luxembourg, while Andorra and Monaco accepted the French franc as legal tender (Monegasque franc). The franc was also used within the French Empire's colonies, including Algeria and Cambodia. The franc is sometimes italianised or hispanicised as the franco, for instance in Luccan franco.
One franc is typically divided into 100 centimes. The French franc symbol was an F with a line through it (₣) or, more frequently, only an F.
The franc was originally a French gold coin of 3.87 g minted in 1360 on the occasion of the release of King John II
The Hungarian korona (Hungarian: magyar korona; korona in English is "crown") was the replacement currency of the Austro-Hungarian Krone/korona amongst the boundaries of the newly created post-World War I Hungary. It suffered a serious inflation and was replaced by the pengő in 1925. The last korona banknotes were withdrawn from circulation in 1927.
According to the Treaty of Trianon and other treaties regulating the situation of countries emerging from the ruins of the dissolved Austro-Hungarian Empire, the former banknotes had to be overstamped by the new states and - after a given transition-period - replaced by a new currency. In the case of Hungary, this currency was the korona, which replaced its Austro-Hungarian counterpart at par. Hungary was the last country to fulfil the replacement obligation of the treaties and the stamps used for overstamping were very easy to copy, so a large portion of the common currency circulated in Hungary. This was a factor contributing to the process which finally led to a serious inflation. Finally, in 1925, the korona was replaced by the pengő at a rate of 12,500 korona = 1 pengő.
Körmöcbánya (today: Kremnica, Slovakia), the site of the only
The tenge (Kazakh: теңге, teñge) is the currency of Kazakhstan. It is divided into 100 tïın (тиын, also transliterated as tiyin or tijn). It was introduced on 15 November 1993 to replace the Soviet ruble at a rate of 1 tenge = 500 rubles. The ISO-4217 code is KZT.
The word tenge in the Kazakh and most other Turkic languages means a set of scales (cf the old Uzbek tenga or the Tajik borrowed term tanga). The origin of the word is the Turkic teğ- which means being equal, balance. The name of this currency is thus similar to the lira, pound and peso. The name of the currency is related to the Russian word for money Russian: деньги / den'gi, which was borrowed from Turkic.
Kazakhstan was one of the last countries of the CIS to introduce a national currency. In 1991 a "special group" of designers was created: Mendybay Alin, Timur Suleymenov, Asimsaly Duzelkhanov and Khayrulla Gabzhalilov. On November 12, 1993, a decree of the President of Kazakhstan, "About introducing national currency of Republic of Kazakhstan", was issued. On November 15, 1993, the tenge was brought into circulation. As such, November 15 is celebrated as the "Day of National Currency of Republic of Kazakhstan". In
The denar (plural: denari, Macedonian: денар and денари, denar and denari, ISO 4217 code: MKD, the three-digit identifier is 807) is the currency of the Republic of Macedonia. It is subdivided into 100 deni (Macedonian: дени). The name denar comes from the name of the ancient Roman monetary unit, the denarius. The currency symbol is ден, the first three letters of its name. The Macedonian denar was introduced on 26 April 1992.
The first denar was introduced on April 26, 1992, and replaced the 1990 version of the Yugoslav dinar at par. On May 5, 1993, the currency was reformed, with one new denar (MKD) being equal to 100 old denar (MKN).
No coins were issued for the first denar. In 1993, coins for the second denar were introduced in denominations of 50 deni (which is no longer being made), 1, 2, and 5 denari. 10 and 50 denari coins have been recently introduced.
Notes were introduced on 27 April 1992 in denominations of 10, 25, 50, 100, 500, 1000, 5000 and 10,000 denari, although preparations for producing the first Macedonian banknotes began well before Macedonia declared its independence. The difficulties of creating a new currency in secret is reflected in the notes themselves.
The real (meaning: "royal", plural: reais later becoming réis) was the unit of currency of Portugal from around 1430 until 1911. It replaced the dinheiro at the rate of 1 real = 840 dinheiros and was itself replaced by the escudo (as a result of the Republican revolution of 1910) at a rate of 1 escudo = 1000 réis. The escudo was further replaced by the euro at a rate of 1 euro = 200.482 escudos in 2002.
The first real was introduced by Ferdinand I in around 1380. It was a silver coin and had a value of 120 dinheiros (10 soldos or ½ libra). In the reign of King João I (1385–1433), the real branco of 3½ libras and the real preto of 7 soldos (one tenth of a real branco) were issued. By the beginning of the reign of King Duarte I in 1433, the real branco (equivalent to 840 dinheiros) had become the unit of account in Portugal. From the reign of Manuel I (1495–1521), the name was simplified to "real", coinciding with the switch to minting real coins from copper.
In 1837, a decimal system was adopted for the coin denominations, with the first banknotes issued by the Banco de Portugal in 1847. In 1854, Portugal went on to a gold standard of 1000 réis = 1.62585 grams fine gold. This
The Rupee (Sinhala: රුපියල්, Tamil: ரூபாய்) (signs: රු, ரூ, ₨, SLRs, /-; code: LKR) is the currency of Sri Lanka, divided into 100 cents. It is issued by the Central Bank of Sri Lanka and is generally written Rs. (though SLRs. may occasionally be used for disambiguation).
The British pound became Ceylon's official money of account in 1825, replacing the Ceylonese rixdollar at a rate of 1 pound = 13⅓ rixdollars, and British silver coin was made legal tender. Treasury notes denominated in pounds were issued in 1827, replacing the earlier rixdollar notes. Rixdollar notes not presented for exchange were demonetized in June 1831.
The Indian rupee was made Ceylon's standard coin 26 September 1836, and Ceylon reverted to the Indian currency area. Pound-denominated treasury notes continued to circulate after 1836, along with the rupee. The legal currency remained British silver and accounts were kept in pounds, shillings and pence. However, payments were made in rupees and annas at the "fictitious par" (fixed accounting rate) of 2 shillings per rupee (i.e., 1 pound = 10 rupees).
The Bank of Ceylon was the first private bank to issue banknotes on the island (1844) and Treasury notes were
Tin ingots (Chinese: 斗锡) were a trading currency unique to Malacca. Cast in the shape of a peck, or dou in Chinese, each block weighs just over 1 pound (0.45 kg). Ten blocks made up one unit called a small bundle, and 40 blocks made up one large bundle.
Details of tin production in early Malacca were recorded in the 1436 book Description of the Starry Raft by Fei Xin, a translator of Admiral Zheng He.
The hryvnia, sometimes hryvnya or grivna (Ukrainian: гривня, pronounced [ˈɦrɪu̯ɲɑ], abbr.: грн (hrn in Latin alphabet)); sign: ₴, code: (UAH), has been the national currency of Ukraine since September 2, 1996. The hryvnia is subdivided into 100 kopiyok. In medieval times, it was a currency of Kievan Rus'.
The currency of Kievan Rus' in the eleventh century was called grivna. The word is thought to derive from the Slavic griva; c.f. Ukrainian, Russian, Bulgarian and Serbian грива / griva, meaning "mane". It may have indicated something valuable worn around the neck, usually made of silver or gold; c.f. Bulgarian and Serbian grivna (гривна, "bracelet"). Later, the word was used to describe silver or gold ingots of a certain weight; c.f. Ukrainian hryvenyk (гривеник), Russian grivennik (гривенник, "10-kopek piece"). Also, there is a possibility that the word is derived from a Lithuanian (Ukraine used to be part of the Grand Duchy of Lithuania) "grynas pinigas" or "gryni pinigai" (cash), where "gryni" means "cash, pure gold" and it derives from "grynas auksas" (pure gold). Also, "grynuolis" (Lithuanian) means "nugget". Same meaning "pure gold" is derived from Kazakh, Kyrgyz and Uzbek
The lira (plural lire) was the currency of the Vatican City between 1929 and 2002.
The Papal States, by then reduced to a smaller area close to Rome, used its own lira between 1866 and 1870, after which it ceased to exist. In 1929, the Lateran Treaty established the State of the Vatican City and, according with the terms of the Treaty, a distinct coinage was introduced, denominated in centesimi and lire, on par with the Italian lira. Italian coins and banknotes were legal tender in the Vatican City. The Vatican coins were minted in Rome and were also legal tender in Italy and San Marino.
In 2002, the Vatican City switched to the euro at an exchange rate of 1 euro = 1936.27 lira. It has its own set of euro coins.
In 1929, copper 5 and 10 centesimi, nickel 20 and 50 centesimi, 1 and 2 lire, and silver 5 and 10 lire coins were introduced. In 1939, aluminium bronze replaced copper and, in 1940, stainless steel replaced nickel. Between 1941 and 1943, production of the various denominations was reduced to only a few thousand per year.
In 1947, a new coinage was introduced consisting of aluminium 1, 2, 5 and 10 lire. The sizes of these coins was reduced in 1951. In 1955, stainless steel
The British West African Pound was once the currency of British West Africa, a group of British colonies, protectorates and mandate territories. It was equal to the pound sterling and was similarly subdivided into 20 shillings, each of 12 pence. This currency is now obsolete.
In the 19th century, the pound sterling became the currency of the British West African territories and standard issue United Kingdom coinage circulated. The West African territories in question are Nigeria, the Gold Coast (now Ghana), Sierra Leone and the Gambia.
In 1912, the special circumstances of British West Africa resulted in the authorities in London setting up the West African Currency Board and issuing a distinctive set of sterling coinage for local use. In 1910, Australia had already commenced issuing its own distinctive varieties of the sterling coinage, but the reasons for doing so were quite different from those relating to British West Africa. In the case of Australia, the local sterling coinage was issued by the authorities in Australia as a step in its advance towards full nationhood. In the case of British West Africa, it was the authorities in London who made the decision to issue a special
The lilangeni (plural: emalangeni, ISO 4217 code: SZL) is the currency of Swaziland and is subdivided into 100 cents. The South African rand is also accepted in Swaziland and it is issued by the Central Bank of Swaziland (in swazi Umntsholi Wemaswati). Similar to the Lesotho loti, there are singular and plural abbreviations, namely L and E, so where one might have an amount L1, it would be E2, E3, or E4.
It was introduced in 1974 at par with the South African rand through the Common Monetary Area, to which it remains tied at a one-to-one exchange rate.
In 1974, coins for 1, 2, 5, 10, 20 and 50 cents and 1 lilangeni were introduced, with the 1 and 2 cents struck in bronze and the others struck in cupro-nickel. Except for the 1 lilangeni, the coins were not round, with the 1 and 50 cents dodecagonal, the 2 cents square with rounded corners and the 5, 10 and 20 cents scalloped.
The 2 cents was last struck in 1982, whilst, in 1986, round, copper-plated steel 1 cent and nickel-brass 1 lilangeni coins were introduced. These were followed, in 1992, by nickel-plated-steel 5 and 10 cents and nickel-brass-plated-steel 1 lilangeni coins. In 1995, 2 and 5 emalangeni coins were introduced.
The lek (Albanian: Leku Shqiptar; plural lekë) (sign: L; code: ALL) is the official currency of Albania. It is subdivided into 100 qindarka (singular qindarkë), although qindarka are no longer issued.
Introduced in 1926 by King Ahmet Zogu, the First Lek may have been named after Alexander the Great. In the front of 1 Lek coin was the portrait of Alexander the Great, and on the reverse was Alexander on his horse. Another possibility is that is was named after the Albanian feudal prince, Lekë Dukagjini. The name qindarkë comes from the Albanian qind, meaning one hundred. Qindarkë thus is similar in formation to centime, cent, centesimo, stotinka, eurocent, etc.
In 1926, bronze coins were introduced in denominations of 5 and 10 qindar leku, together with nickel ¼, ½ and 1 lek, and silver 1, 2 and 5 franga ar. The obverse of the franga coins depict Amet Zogu. In 1935, bronze 1 and 2 qindar were issued, equal in value to the 5 and 10 qindar leku. This coin series depicted distinct neoclassical motifs.
After the Italian occupation, stainless-steel 0.20, 0.50, 1 and 2 lek and silver 5 and 10 lek were introduced, with the silver coins only issued that year but aluminium-bronze 0.05 and
The escudo was the currency of Chile between 1960 and 1975, divided into 100 centésimos. It replaced the (old) peso at a rate of 1 escudo = 1000 pesos and was itself replaced by a new peso, at a rate of 1 peso = 1000 escudos. The symbol Eº was used for the escudo.
Note also that Chile issued gold escudos, worth 16 reales or 2 pesos until 1851.
In 1960, aluminium 1 centésimo and aluminium-bronze 2, 5 and 10 centésimo coins were introduced, followed by aluminium ½ centésimo in 1962. In 1971, a new coinage was introduced, consisting of aluminium-bronze 10, 20 and 50 centésimos and cupro-nickel 1, 2 and 5 escudos. This coinage was issued for two years, with aluminium 5 escudos produced in 1972. In 1974 and 1975, aluminium 10 escudos and nickel-brass 50 and 100 escudos were issued.
In 1959, provisional banknotes were produced by the Banco Central de Chile. These were modified versions of the old peso notes, with the centésimo or escudo denomination added to the design. Denominations were ½, 1, 5, 10 and 50 centésimos, 1, 5, 10 and 50 escudos. Regular-type notes were introduced in 1962 in denominations of ½, 1, 5, 10, 50 and 100 escudos. In 1971, 500 escudo notes were introduced,
The Egyptian pound (Arabic: الجنيه المصرى al-Gunayh al-Miṣrī ; Egyptian Arabic el-Genēh el-Maṣri IPA: [elɡeˈneːh elˈmɑsˤɾi] or in Alexandrian accent: el-Geni el-Maṣri [elˈɡeni (ʔe)lˈmɑsˤɾi]) (sign: E£ or ج.م; code: EGP) is the currency of Egypt. It is divided into 100 piastre, or qirsh (قرش [ʔeɾʃ]; plural قروش [ʔʊˈɾuːʃ, ʔɪˈɾuːʃ]; Turkish: Kuruş), or 1,000 milliemes (Arabic: مليم [mælˈliːm]; French: Millième).
The ISO 4217 code is EGP. Locally, the abbreviation LE or L.E., which stands for livre égyptienne (French for Egyptian pound) is frequently used. E£ and £E are rarely used. The name Gineih (Genēh / Geni [ɡeˈneː(h), ˈɡeni]) is derived from the Guinea coin, which had almost the same value of 100 piastres at the end of the 19th century.
In 1834, a Khedival Decree was issued providing for the issuing of an Egyptian currency based on a bimetallic base, i.e.: based on gold and silver. The Egyptian pound, known as the gineih, was introduced, replacing the Egyptian piastre (qirsh) as the chief unit of currency. The piastre continued to circulate as ⁄100 of a pound, with the piastre subdivided into 40 para. In 1885, the para ceased to be issued, and the piastre was divided into
The Finnish markka (Finnish: Suomen markka, abbreviated mk, Swedish: finsk mark, currency code: FIM) was the currency of Finland from 1860 until 28 February 2002, when it ceased to be legal tender. The markka was replaced by the euro (€), which had been introduced, in cash form, on 1 January 2002, after a transitional period of three years when the euro was the official currency but only existed as 'book money'. The dual circulation period – when both the Finnish markka and the euro had legal tender status – ended on 28 February 2002.
The markka was divided into 100 pennies (Finnish: penni, with numbers penniä, Swedish: penni), postfixed "p"). At the point of conversion, the rate was fixed at €1 = 5.94573 mk.
The markka was introduced in 1860 by the Bank of Finland, replacing the Russian ruble at a rate of four markka equal to one ruble. In 1865 the markka was separated from the Russian ruble and tied to the value of silver. After Finland gained independence in 1917 the currency was backed by gold. The gold standard was abolished in 1940, and the markka suffered heavy inflation during the war years. In 1963 the markka was replaced by the new markka, equivalent to 100 old
The franc was the currency of French West Africa. The French franc circulated, together with distinct banknotes from 1903 and coins from 1944. It was replaced by the CFA franc in 1945.
In 1944, aluminium-bronze 50 centimes and 1 franc coins were issued. These were the only coins struck before the introduction of the CFA franc.
The Banque de l'Afrique Occidentale ("Bank of West Africa") began issuing notes in 1903. 100 franc notes were introduced that year, followed by 5 francs in 1904, 500 francs in 1912, 25 francs in 1917, 1000 francs in 1919 and 50 francs in 1920. 10 franc notes were introduced in 1943. In 1944, the government issued notes for 50 centimes, and 1 and 2 francs. The notes of the Banque de l'Afrique Occidentale continued to circulate after the introduction of the CFA franc.
The Israeli New Shekel (Hebrew: שֶׁקֶל חָדָשׁ Sheqel Ḥadash) (sign: ₪; acronym: ש״ח and in English NIS; code: ILS) (officially spelt sheqel; pl. sheqalim pronounced shqalim – שקלים; Arabic: شيكل جديد or شيقل جديد šēqel ǧadīd) is the currency of the State of Israel. The shekel consists of 100 agorot (אגורות) (sing. agora, אגורה). Denominations made in this currency are marked with the shekel sign, ₪. The Israeli new shekel is in use since 1 January 1986 when it replaced the Old Israeli shekel that was in usage between 24 February 1980 and 31 December 1985, at a ratio of 1000:1.
The Israeli lira, followed by the old sheqel, both experienced frequent devaluations against the US dollar and other foreign currencies starting in the early 1960s and accelerating from the mid-1970s onwards. This trend culminated in the old sheqel suffering from hyperinflation in the early 1980s. After inflation was contained as a result of the 1985 Economic Stabilization Plan, the new sheqel was introduced, replacing the old sheqel on January 1, 1986, at a rate of 1,000 old sheqalim = 1 new sheqel.
Since the economic crisis of the 1980s and introduction of the New Sheqel, the Bank of Israel and the
During the two times the Saar territory was economically split off from Germany, i.e. 1920-1935 as the Territory of the Saar Basin and 1947-1957 as the Saar Protectorate and 1957-1959 as the state of Saarland in West Germany, the French Franc (German: Franken) was the official currency of the territory. Although local notes and coins had been issued during both periods, legally the Saar-Franken was never a currency of its own.
The Treaty of Versailles stated in article 45 that the newly formed territory would be administrated by the League of Nations for 15 years, and that during that time France was granted the complete benefit of the Saar coal mines. The new French administration of the coal mines was granted the right to process all financial transactions with French Francs. Therefore, from 1921 to 1923 the French Franc was used alongside the German Mark, and from 1923 on, when the Saar Territory was incorporated officially into the French economy, the Franc became the only valid currency. Due to the shortage of nonferrous metal, the coal mines administration began to print its own banknotes, the so-called *Grubengeld" ("coal mine money"). After 1930, these notes were replaced
The shilingi (Swahili; English: shilling) is the currency of Tanzania, although widespread use of U.S. dollars is accepted. It is subdivided into 100 senti (cents in English). The Tanzanian shilling replaced the East African shilling on 14 June 1966 at par.
For earlier currencies used in Tanzania, see East African florin, East African rupee, Zanzibari rupee, Zanzibari riyal and German East African rupie.
Amount in the Tanzanian shilingi is written in the form of x/y, where x is the amount above 1 shilingi, while y is the amount in senti. An equals sign or hyphen represent zero amount. For example, 50 senti is written as "=/50" or "-/50", while 100 shilingi is written as "100/=" or "100/-".
In 1966, coins were introduced in denominations of 5, 20 and 50 senti and 1 shilingi, with the 5 senti struck in bronze, the 20 senti in nickel-brass and the 50 senti and 1 shilingi in cupro-nickel. Cupro-nickel 5 shilingi coins were introduced in 1972, followed by scalloped, nickel-brass 10 senti in 1977. This First Series coins set, in circulation from 1966 up to 1984, was designed by Christopher Ironside OBE.
In 1987, nickel-clad steel replaced cupro-nickel in the 50 senti and 1 shilingi, and
The ruble is the official currency of Transnistria. It is divided into 100 kopecks. Since Transnistria is a state with limited international recognition, its currency has no ISO 4217 code. However, unofficially some Transnistrian organisations such as Agroprombank and Gazprombank used the code PRB as the ISO 4217. The Trans-Dniester Republican Bank sometimes uses the code RUP.
Soviet banknotes were used in the Trans-Dniester Moldavian Republic after its formation in 1990. When the former Soviet republics began issuing their own currencies, Trans-Dniester was flooded with Soviet rubles. In an attempt to protect its financial system, in July 1993 the government bought used Goznak-printed Soviet and Russian notes dated 1961-1992 which it modified in Trans-Dniester by adhering stamps bearing the image of General Alexander Vasilyevich Suvorov, founder of Tiraspol, Trans-Dniester’s capital. These stamped notes replaced unstamped Soviet and Russian notes at par. It is thought that most uncirculated notes bearing these stickers were created after 1994 specifically for collectors.
The first, provisional issues were replaced in August 1994 by a new ruble, equal to 1000 old rubles. This
The Reichsmark (help·info) (literally in English: Reich's mark; sign: ℛℳ) was the currency in Germany from 1924 until June 20, 1948. The Reichsmark was subdivided into 100 Reichspfennig.
The Reichsmark was introduced in 1924 as a permanent replacement for the Papiermark. This was necessary due to the 1920s German inflation which had reached its peak in 1923. The exchange rate between the old Papiermark and the Reichsmark was 1 ℛℳ = 10 Papiermark (one trillion in both UK and US English, one billion in German and other European languages, see long and short scales). To stabilize the economy and to smooth the transition, the Papiermark was not directly replaced by the Reichsmark, but by the Rentenmark, an interim currency backed by the Deutsche Rentenbank, owning industrial and agricultural real estate assets. The Reichsmark was put on the gold standard at the rate previously used by the Goldmark, with the U.S. dollar worth 4.2 ℛℳ.
As the market crash of 1929 expanded into the Great Depression, Germany was forced to effectively take the Reichsmark off of the gold standard when it imposed exchange controls in July 1931. It retained a gold peg at that time. At the transition of Germany
The Saint Pierre and Miquelon franc was the currency of Saint Pierre and Miquelon during a short time.
Before 1890, the French franc and Canadian dollar both circulated on the islands. These were supplemented with local banknotes from 1890. The exchange rate of 5.4 francs = 1 dollar was used on the island, although the exchange rate from the two gold standards was 5.1826 francs = 1 dollar. After the franc left the gold standard, only the franc circulated.
During the Second World War, a full set of banknotes was introduced for the islands. In 1945, Saint Pierre and Miquelon adopted a franc tied to the CFA franc, thus avoiding some of the devaluation imposed on the metropolitan currency (c.f. Réunion franc). Coins were issued for the islands in 1948.
In 1960, Saint Pierre and Miquelon adopted the new franc, with 50 old francs = 1 new franc. Local banknotes were used until 1965, when the islands began using French currency along with Canadian currency. The islands continue to use both French and Canadian currencies, with the euro replacing the franc in 2002.
Saint Pierre and Miquelon's only coins were aluminium 1 and 2 francs coins struck in 1948.
Between 1890 and 1895, the Banque des
The ruble (Belarusian: рубель, Gen. plural: рублёў) is the currency of Belarus. The symbol for the ruble is Br and the ISO 4217 code is BYR.
The breakup of supply chain in the former Soviet enterprises demanded that goods be bought and sold on the market, often requiring cash settlement. The Belarusian unit of the USSR State Bank did not have capacity nor the license to print Soviet banknotes, hence the government decided to introduce their own national currency to ease up the situation with cash. Taler (Belarusian: талер), divided in 100 hrosh (Belarusian: грош) was suggested as the name for a Belarusian currency, however the Communist majority in the Supreme Soviet of Belarus rejected the proposal and stuck to the Russian word ruble.
From the collapse of the Soviet Union until May 1992, the Soviet ruble circulated in Belarus alongside with the Belarusian ruble. New Russian banknotes also circulated in Belarus but they were replaced by notes issued by the National Bank of the Republic of Belarus in May 1992. The first post-Soviet Belarusian ruble was assigned the ISO code BYB and replaced the Soviet currency at the rate of 1 Belarusian ruble = 10 Soviet rubles. It took about two
The kwanza (sign: Kz; ISO 4217 code: AOA) is the currency of Angola. Four different currencies using the name kwanza have circulated since 1977.
The kwanza was introduced following Angolan independence. It replaced the escudo at par and was subdivided into 100 lwei. Its ISO 4217 code was AOK.
The first coins issued for the kwanza did not bear any date, although all bore the date of independence, 27 December 1975. They were in denominations of 10, 20, 50 lwei, 1, 2, 5 and 10 kwanzas. 20 kwanza coins were added in 1978. The last date to appear on coins was 1979.
On 8 January 1977, banknotes dated 11 DE NOVEMBRO DE 1976 were introduced by the Banco Nacional de Angola (National Bank of Angola) in denominations of 20, 50, 100, 500, and 1000 kwanzas. The 20 kwanza note was replaced by a coin in 1978.
In 1990, the novo kwanza was introduced, with the ISO 4217 code AON. Although it replaced the kwanza at par, Angolans could only exchange 5% of all old notes for new ones; they had to exchange the rest for government securities. This kwanza suffered from high inflation.
This currency was only issued in note form. The first banknotes issued in 1990 were overprints on earlier notes in
The ruble (Armenian: ռուբլի, Russian: рубль) was the independent currency of the Democratic Republic of Armenia and the Armenian Soviet Socialist Republic between 1919 and 1923. It replaced the first Transcaucasian ruble at par and was replaced by the second Transcaucasian ruble after Armenia became part of the Transcaucasian Soviet Federal Socialist Republic. No subdivisions of the ruble were issued and the currency existed only as banknotes.
Notes were issued by the Democratic Republic in denominations of 5, 10, 25, 50, 100, 250, 500, 1000, 5000 and 10,000 ruble. Most were quite crudely printed with mostly Russian text. However, three denominations (50, 100 and 250 ruble) were printed in the UK by Waterlow and Sons Ltd and these notes are of a much finer style, bearing mostly Armenian text.
The ASSR issued denominations between 5000, 10,000, 25,000, 100,000, 500,000, 1 million and 5 million ruble. These notes bore Armenian and Russian texts together with communist slogans in various languages on the reverses.
The franc (sign: ₣, commonly also FF or F) was a currency of France. Along with the Spanish peseta, it was also a de facto currency used in Andorra (which had no national currency with legal tender). Between 1360 and 1641, it was the name of coins worth 1 livre tournois and it remained in common parlance as a term for this amount of money. It was re-introduced (in decimal form) in 1795 and remained the national currency until the introduction of the euro in 1999 (for accounting purposes) and 2002 (coins and banknotes). It was a commonly held international reserve currency in the 19th and 20th centuries.
The franc was introduced by King John II in 1360. Its name comes from the inscription, Johannes Dei Gratia Francorum Rex ("John by the grace of God King of the Franks"), and its value was set as one livre tournois (a money of account). Francs were later minted under Charles V, Henry III and Henri IV.
Louis XIII of France stopped minting the franc in 1641 (replacing it with the Écu and Louis d'Or), but use of the name "franc" continued in accounting as a synonym for the livre tournois.
The decimal "franc" was established as the national currency by the French Revolutionary Convention
The dollar (ISO 4217 code: SBD) is the currency of the Solomon Islands since 1977. It is normally abbreviated with the dollar sign "$" or, alternatively "SI$" to distinguish it from other dollar-denominated currencies. It is subdivided into 100 cents.
Prior to the Solomon Islands Dollar, Solomon Islands relied on foreign currencies, namely the Australian units of pound sterling. however, the Solomon Islands had also issued its own corresponding banknotes, sometimes called the Solomon Islands Pound.
When Solomon Islands fell under the control of Imperial Japan, the Oceanian pound became the official currency until after the war ended and the Pound was restored.
In 1966, the Australian dollar replaced the pound, and was circulated in the Solomon Islands until 1976, shortly before independence.
The Solomon Islands dollar was introduced in 1977, replacing the Australian dollar at par, following independence. Until 1979, the two dollars remained equal. After a period of five months pegged at SI$1.05 = A$1, the currency floated. Economic stagnation ensued, so over the next 28 years, and especially during the civil war of 2000-2003, inflation has taken its toll, with the Solomon Islands
The Japanese yen (円 or 圓, en, sign: ¥; code: JPY) is the official currency of Japan. It is the third most traded currency in the foreign exchange market after the United States dollar and the euro. It is also widely used as a reserve currency after the U.S. dollar, the euro and the pound sterling.
Yen is pronounced "en" [eɴ] in Japanese. The word (Shinjitai: 円, Traditional Chinese/Kyūjitai: 圓) literally means "round" in Japanese, as yuán does in Chinese or won in Korean. Originally, Chinese had traded silver in mass (see sycee) and when Spanish and Mexican silver coins arrived, they called them 銀圓 (silver round) for their circular shapes. The coins and the name also appeared in Japan. Later, the Chinese replaced 圓 with 元 which has the same pronunciation in Mandarin (but not in Japanese). The Japanese preferred 圓 which remains until now (albeit in its simplified form, 円, since the end of World War II).
The spelling and pronunciation "yen" is standard in English. This is because mainly English speakers who visited Japan at the end of the Edo period to the early Meiji period spelled words this way. ゑん/wen/ in historical kana orthography. In the 16th century, Japanese /e/(え) and
The Slovak koruna or Slovak crown (Slovak: slovenská koruna, literally meaning Slovak crown) was the currency of Slovakia between 8 February 1993 and 31 December 2008, and could be used for cash payment until the 16 January 2009. It is no longer the official Slovak currency. The ISO 4217 code was SKK and the local abbreviation was Sk. The Slovak crown (koruna) was also the currency of the Nazi-era Slovak Republic between 1939 and 1945. Both korunas were subdivided into 100 haliers (abbreviated as "hal." or simply "h", singular: halier). The abbreviation is placed after the numeric value.
Slovakia switched its currency from the koruna to the euro on 1 January 2009, at a rate of 30.1260 korunas to the euro.
In the Slovak language, the nouns "koruna" and "halier" both assume two plural forms. "Koruny" and "haliere" appears after the numbers 2, 3 and 4 and in generic (uncountable) context, with "korún" and "halierov" being used after other numbers. The latter forms also correspond to genitive use in plural.
The koruna (Slovak: koruna slovenská, note the different word ordering from the modern koruna) was the currency of the Slovak Republic from 1939 to 1945. The Slovak koruna replaced
The Huizi (simplified Chinese: 会子; traditional Chinese: 會子), issued in the year 1160, was the official banknote of the Chinese Southern Song Dynasty. It has the highest amount of issuance among various banknote types during the Song Dynasty.
The rupiah (Rp) is the official currency of Indonesia. Issued and controlled by the Bank of Indonesia, the ISO 4217 currency code for the Indonesian rupiah is IDR. Informally, Indonesians also use the word "perak" ('silver' in Indonesian) in referring to rupiah. The rupiah is subdivided into 100 sen, although inflation has rendered all coins and banknotes denominated in sen obsolete.
The Riau islands and the Indonesian half of New Guinea (Irian Barat) had their own variants of the rupiah, but these were subsumed into the national rupiah in 1964 and 1971 respectively (see Riau rupiah and West New Guinea rupiah).
It's sometimes called "Indonesian rupiah".
The current rupiah consists of coins from 25 rupiah up to 1000 rupiah (1 rupiah are officially legal tender but are effectively worthless and are not circulated), and from banknotes of 1000 rupiah up to 100,000 rupiah. With US$1 generally worth about 9,400 rupiah (August 2012), the largest Indonesian banknote is therefore worth approximately US$10.64.
There are presently two series of coins in circulation: aluminium, bronze and bi-metallic coins from 1991–1998 and light-weight aluminium coins from 1999 onwards. Due to the low value
The Manx pound or Isle of Man pound is a local issue of the pound sterling, issued by the Isle of Man Government. It is subdivided into 100 pence.
The Isle of Man is in currency union with the United Kingdom, and the Manx pound is a local issue of coins and banknotes denominated in pounds sterling, in, for practical purposes, a similar way to the banknotes issued in Scotland and Northern Ireland (see Sterling banknotes). It can be exchanged at par on the island with other sterling coinage and notes (see also Sterling zone). The Isle of Man Treasury states that the locally issued currency, United Kingdom coinage and Bank of England notes are all legal tender within the island.
Unlike Northern Irish and Scottish notes, there is no requirement for the Isle of Man government to back the Manx currency with Bank of England notes or securities. There is no restriction under UK law on the amount of notes and coins they may issue. The currency is not underwritten by the UK government, there is no guarantee of payment beyond that given by the Manx authorities.
ISO 4217 does not include a separate currency code for the Manx pound, but where a distinct code is desired IMP is generally
The Krone or korona (Österreichisch-ungarische Krone (German) or osztrák-magyar korona Hungarian, rakousko-uherská koruna Czech) was the official currency of the Austro-Hungarian Empire from 1892 (when it replaced the Gulden/forint as part of the adoption of the gold standard) until the dissolution of the empire in 1918. The subunit was one hundredth of the main unit, and it was called Heller in the Austrian and fillér in the Hungarian part of the Empire.
The official name of the currency was Krone (pl. Kronen) in Austria and Osztrák–magyar korona in Hungary. The Latin form Corona (plural Coronae), abbreviated to Cor. on the smaller coins, was used for the coinage of the mostly German-speaking part of the empire, known as Cisleithania. Currency names in other ethnic languages were also recognised and appeared on the banknotes: koruna (pl. korun) in Czech, korona (pl. koron) in Polish, корона (pl. корон) in Ukrainian, corona (pl. corone) in Italian, krona (pl. kron) in Slovene, kruna (pl. kruna) in Croatian, круна (pl. круна) in Serbian, and coroană (pl. coroane) in Romanian. Its counterpart in English is crown.
The symbol of the currency was its abbreviation: K. or sometimes
The batzen was a coin produced by Bern, Switzerland, from the 15th century until the mid-19th century. The batzen is named for the bear (Batz, Bätz or Petz meaning bear) depicted on the batzen of Bern.
Other Swiss cantons and southern German states soon followed Bern's example, producing their own batzen. The batzen was originally a silver coin, but by the 17th century it was struck in billon. In Bern's monetary system, the batzen was worth four kreuzer.
With decimalization reform in the 19th century, the batzen was divided into 10 rappen, with 10 batzen worth 1 franc. When the Swiss franc was introduced in 1850 as a common currency for all Swiss cantons, the batzen denomination was no longer officially used, but remained a colloquial term for the 10 rappen coin.
The phoenix (Greek φοίνιξ) was the first currency of the modern Greek state. It was introduced in 1828 by Governor John Capodistria and was subdivided into 100 lepta. The name was that of the mythical phoenix bird and was meant to symbolize the rebirth of Greece. The phoenix replaced the Turkish kuruş (called grosi γρόσι, plural γρόσια grosia by the Greeks) at a rate of 6 phoenix = 1 kuruş.
The creation of a national currency was one of the most pressing issues for the newborn Greek state, so that the monetary chaos reigning in the country could subside. Prior to the phoenix's introduction, transactions were settled with a wide variety of coins, including the Turkish kuruş; coins from major European states, such as France, Britain, Russia and Austria-Hungary were also popular. Therefore, minting the phoenix was one of Governor Kapodistrias' greatest priorities, and he signed a decree authorising it on the 12th of April 1828. The Russian government lent Kapodistrias' administration 1.5 million rubles to start the project.
Kapodistrias made Alexandros Kontostavlos responsible for minting the phoenix. Kontostavlos travelled to Malta, where he negotiated the purchase of several coin
The lats (plural: lati, ISO 4217 currency code: LVL or 428) is the currency of Latvia. It is abbreviated as Ls. The lats is sub-divided into 100 santīmi (singular: santīms, plural also santīmi; from French centime).
The lats was first introduced in 1922, replacing the Latvian rublis at a rate of 1 lats = 50 rubļi. In 1940, Latvia was occupied by the USSR and the lats was replaced by the Soviet ruble at par.
Coins were issued in denominations of 1, 2, 5, 10, 20 & 50 santīmu, 1, 2 & 5 lati. The 1, 2 & 5 santīmu were in bronze, the 10, 20 & 50 santīmu were nickel, while coins of 1 lats & above were in silver.
The Latvian Bank issued notes from 1922 in denominations of 20, 25, 50, 100 and 500 latu. They also issued 10 latu notes which were 500 rubli notes overprinted with the new denomination. The government issued currency notes from 1925 in denominations of 10 and 20 latu.
The lats was reintroduced in 1993, replacing the Latvian rublis, which was used for a short period after Latvia regained its independence, at a rate of 1 lats = 200 rubļu.
Coins are issued in denominations of 1 santīms, 2 & 5 santīmi, 10, 20 & 50 santīmu, as well as 1 lats and 2 lati. Also, there are commemorative
The Manchukuo yuan (滿洲國圓) was the official unit of currency of the Empire of Manchukuo, from June 1932 - August 1945.
The monetary unit was based on one basic pure silver patron of 23.91 grammes. It replaced the Chinese Haikwan tael, the local monetary system in common and regular use in Manchuria before the Mukden incident, as legal tender.
Initially bank notes and coins were produced minted by the Bank of Japan, but were later issued from the mint of the Central Bank of Manchou in the Manchukuo capital of Hsinking (now Changchun). Due to worldwide fluctuations in the price of silver during the 1930s, Manchukuo took the yuan off the silver standard in 1935 and subsequently pegged the yuan to, and later reached approximate exchange parity with, the Japanese yen. In 1940 the Manchukuo yuan was being used to measure Manchukuo exports and imports to countries that included America, Germany and Japan.
Throughout this period about half the value of the issued notes was backed by specie reserves. The notes issued were in five denominations, one hundred, ten, five and one yuan and five chiao (one-half yuan), and typically depicted Qing dynasty rulers of China on the obverse. To keep up
The guaraní (Spanish pronunciation: [ɡwaɾaˈni], plural: guaraníes; sign: ₲; code: PYG) is the national currency unit of Paraguay. The guaraní was divided into 100 céntimos but, because of inflation, céntimos are no longer in use.
The currency sign is U+20B2 ₲ guarani sign (HTML: ₲).
The law creating the guaraní was passed on 5 October 1943, and replaced the peso at a rate of 1 guaraní = 100 pesos. Guaraníes were first issued in 1944. Between 1960 and 1985, the guaraní was pegged to the United States dollar at 126 PYG to 1 USD.
In 1944, aluminum-bronze coins were introduced in denominations of 1, 5, 10, 25 and 50 centimos. All were round shaped. The obverses featured a flower with "Republica del Paraguay" and the date surrounding it, except for the 50 centimos, which featured the lion and Liberty cap insignia. The denomination was shown on the reverses.
The second issue, introduced in 1953, consisted of 10, 15, 25 and 50 centimos coins. All were again minted in aluminium-bronze but were scallop shaped and featured the lion and Liberty cap on the obverse. None of the céntimo coins circulate today.
In 1975, coins were introduced in denominations of 1, 5, 10 and 50 guaranies, all
The tolar was the currency of Slovenia from 8 October 1991 until the introduction of the euro on 1 January 2007. It was subdivided into 100 stotins (cents). The ISO 4217 currency code for the Slovenian tolar was SIT. From October 1991 until June 1992, the acronym SLT was in use.
The name tolar comes from Thaler, and is cognate with dollar. The tolar was introduced on 8 October 1991. It replaced the 1990 (Convertible) version of Yugoslav dinar at parity. On 28 June 2004, the tolar was pegged against the euro in the ERM II, the European Union exchange rate mechanism. All recalled banknotes can be exchanged at the central bank for current issue.
On 1 January 2007, the tolar was supplanted by the euro. Slovenia issues its own euro coins, like all other nations in the Eurozone.
The timescale for conversion from the tolar to the euro operated differently from the first wave of European Monetary Union (EMU). The permanent euro/tolar conversion rate was finalised on 11 July 2006 at 239.640 tolar per euro. During the first wave of EMU, this period was only a day (the conversion rates were fixed on 31 December 1998 and euro non-cash payments were possible from 1 January 1999). Also unlike
The guilder (Dutch: gulden; ISO 4217 code: SRG) was the currency of Suriname until 2004, when it was replaced by the Surinamese dollar. It was divided into 100 cents. Until the 1940s, the plural in Dutch was cents, with centen appearing on some early paper money, but after the 1940s the Dutch plural became cent.
The Surinamese guilder was initially at par with the Dutch guilder. In 1940, following the occupation of the Netherlands, the currency (along with the Netherlands Antillean guilder) was tied to the U.S. dollar at a rate of 1.88585 guilders = 1 dollar.
The Surinamese guilder suffered from high inflation in the beginning of the 1990s. It was replaced by the dollar on 1 January 2004 at a rate of 1 dollar = 1000 guilders. To save cost of manufacturing, coins of less than 5 guilders (all denominated in cents) were made legal for their face value in the new currency. Thus, these coins increased their purchasing power by 1000 fold overnight.
Until 1942, Dutch coins circulated in Suriname. Starting that year, coins were minted in the United States for use in Netherlands Guiana, some of which also circulated in the Netherlands Antilles. These coins were in denominations of 1, 5, 10
The inti was the currency of Peru between 1985 and 1991. Its ISO 4217 code was PEI and its abbreviation in local use was "I/." The inti was divided into 100 céntimos. The inti replaced the inflation-stricken sol. The new currency was named after Inti, the Inca sun god.
The inti was introduced on 1 February 1985, replacing the sol which had suffered from high inflation. One inti was equivalent to 1,000 soles. Coins denominated in the new unit were put into circulation from May 1985 and banknotes followed in June of that year.
By 1990, the inti had itself suffered from high inflation. As an interim measure, from January to July 1991, the "inti en millones" (I/m.) was used as a unit of account. One inti en millones was equal to 1,000,000 intis and hence to one new sol. The nuevo sol ("new sol") was adopted on 1 July 1991, replacing the inti at an exchange rate of a million to one. Thus: 1 new sol = 1,000,000 inti = 1,000,000,000 old soles.
Inti notes and coins are no longer legal tender in Peru, nor can they be exchanged for notes and coins denominated in the current nuevo sol.
Coins were introduced in 1985 in denominations of 1, 5, 10, 20 and 50 centimos (designs were taken from the
Rai, or stone money, are large, circular stone disks carved out of limestone formed from aragonite and calcite crystals, Rai stones were mined in Palau and transported for use to the island of Yap, Micronesia. They have been used in trade by the locals and are described by some observers as a form of currency.
Rai stones are circular disks with a hole in the middle. The size of the stones varies widely: the largest are 3.6 meters (12 ft) in diameter, 0.5 meters (1.5 ft) thick and weigh 4 metric tons (8,800 lb). The largest rai stone is located in Rumung island, near Riy village. Smaller rai stones might have a diameter of 7-8 centimetres.
The extrinsic (perceived) value of a specific stone is based not only on its size and craftsmanship but also on the history of the stone. If many people—or no one at all—died when the specific stone was transported, or a famous sailor brought it in, the value of the rai stone increases.
Rai stones were and still are used in rare, important social transactions such as marriage, inheritance, political deals, sign of an alliance, ransom of the battle dead or, rarely, in exchange for food. Many of them are placed in front of meetinghouses or along
The córdoba (Spanish pronunciation: [ˈkorðoβa], sign: C$; code: NIO) is the currency of Nicaragua. It is divided into 100 centavos
The first córdoba was introduced on March 20, 1912. It replaced the peso at a rate of 12½ pesos = 1 córdoba and was initially equal to the US dollar. It was named after the founder of Nicaragua, Francisco Hernández de Córdoba.
On February 15, 1988, the 2nd córdoba was introduced. It was equal to 1000 1st córdobas. On April 30, 1991 the third córdoba, also called the córdoba oro, was introduced, worth 5,000,000 2nd córdobas. As of September 6th, 2012; 24.53 cordobas are equal to one US dollar.
In 1912, coins were introduced in denominations of ½, 1, 5, 10, 25 and 50 centavos and 1 córdoba. The ½ & 1 centavo were minted in bronze, the 5 centavos in cupro-nickel and the higher denominations in silver. The 1 córdoba was only minted in 1912, whilst ½ centavo production ceased in 1937.
In 1939, cupro-nickel replaced silver on the 10, 25 & 50 centavos. In 1943, a single year issue of brass 1, 5, 10 & 25 centavos was made. These were the last 1 centavo coins. In 1972, cupro-nickel 1 córdoba coins were issued, followed, in 1974, by aluminium 5 and 10 centavos.
The peseta (/pəˈseɪtə/; Spanish: [peˈseta]; Galician: [peˈseta]; Catalan: pesseta, IPA: [pəˈsɛtə] or [peˈseta]; Basque: pezeta, IPA: [pes̻eta]) was the currency of Spain between 1869 and 2002. Along with the French franc, it was also a de facto currency used in Andorra (which had no national currency with legal tender).
The name of the currency comes from pesseta, the diminutive form of the word peça, which is a Catalan word that means piece or fraction. The first non-official coins which contained the word "peseta" were made in 1808 in Barcelona.
Traditionally, there was never a single symbol or special character for the Spanish peseta. Common abbreviations were "Pt", "Pta", "Pts" and "Ptas", and even using superior letters: "P".
Common earlier Spanish models of mechanical typewriters had the expression "Pts" on a single type head (₧), as a shorthand intended to fill a single type space (₧) in tables instead of three (Pts).
Later, Spanish models of IBM electric typewriters also included the same type in its repertoire.
When the first IBM PC was designed circa 1980, it included a "peseta symbol" ₧ in the ROM of the Monochrome Display Adapter (MDA) and Color Graphics Adapter (CGA)
The Biafran pound was the currency of the breakaway Republic of Biafra between 1968 and 1970.
The first notes denominated in 5 shillings and £1 were introduced on January 29, 1968. A series of coins was issued in 1969; 3 pence, 6 pence, 1 shilling and 2½ shilling coins were minted, all made of aluminium. In February 1969, a second family of notes was issued consisting of 5 shilling, 10 shilling, £1, £5 and £10 denominations. Despite not being recognised as currency by the rest of the world when they were issued, the banknotes were afterwards sold as curios (typically at 2/6 (=.0125 GBP) for 1 pound notes in London philately/notaphily shops) and are now traded among banknote collectors at well above their original nominal value.
The most common note is the 1968 1 Pound, with the 10 Pound and all coins being rare.
The lev (Bulgarian: лев, plural: лева, левове / leva, levove) is the currency of Bulgaria. It is divided in 100 stotinki (стотинки, singular: stotinka, стотинка). In archaic Bulgarian the word "lev" meant "lion".
The lev was introduced as Bulgaria's currency in 1881 with a value equal to the French franc. The gold standard was suspended between 1899 and 1906 before being suspended again in 1912. Until 1916, Bulgaria's silver and gold coins were issued to the same specifications as those of the Latin Monetary Union. Banknotes issued until 1928 were backed by gold ("leva zlato" or "zlatni", "лева злато" or "златни") or silver ("leva srebro" or "srebarni", "лева сребро" or "сребърни").
In 1928, a new gold standard of 1 lev = 10.86956 mg gold was established.
During World War II, in 1940, the lev was pegged to the German Reichsmark at a rate of 32.75 leva = 1 Reichsmark. With the Soviet occupation in September 1944, the lev was pegged to the Soviet ruble at 15 leva = 1 ruble. A series of pegs to the U.S. dollar followed: 120 leva = 1 dollar in October 1945, 286.50 leva in December 1945 and 143.25 leva in March 1947. No coins were issued after 1943; only banknotes were issued until the
The Confederate States of America dollar was first issued just before the outbreak of the Civil War by the newly-formed Confederacy. It was not backed by hard assets, but simply by a promise to pay the bearer after the war, on the prospect of Southern victory and independence.
As the war began to tilt against the Confederates, confidence in this currency diminished, and inflation followed. By the end of 1864, the currency was practically worthless.
The Confederate Dollar (or "Greyback") remains a prized collector's item, in its many versions, including those issued by individual states and local banks. The various engravings of leading Confederates, Gods and Goddesses and scenes of slave-life, on these hastily-printed banknotes, sometimes cut with scissors and signed by clerks, continue to stimulate debate among antique dealers, with even some of the counterfeit notes commanding high prices.
The Confederate dollar, often called a "Greyback", was first issued into circulation in April 1861, when the Confederacy was only two months old, and on the eve of the outbreak of the Civil War.
At first, Confederate currency was accepted throughout the South as a medium of exchange with high
The gourde (French: [ɡuʁd]) or goud (Haitian Creole: [ɡud]) is the currency of Haiti. Its ISO 4217 code is HTG and it is divided into 100 centimes (French) or santim (Creole).
The first gourde was introduced in 1813 and replaced the livre at a rate of 1 gourde = 8 livres and 5 sous.
The first issues of coins were silver pieces of 6, 12 and 25 centimes. In 1827, 50 and 100 centimes coins were introduced, followed by 1 and 2 centimes in 1828. In 1846 and 1850, 6¼ centimes coins were issued as well as 6 centimes pieces. In 1863, bronze coins, produced by the Heaton mint of Birmingham, were issued. These were in denominations of 5, 10 and 20 centimes and were the last coins of the first gourde.
The governments of Haiti issued paper money in denominations of 1, 2, 5, 10, 20, 25, 50, 100,and 500 gourdes.
In 1870 the gourde was revalued at a rate of ten to one. Only banknotes were issued for this second gourde, with the government issuing notes of 10 and 25 gourdes.
In 1872, the gourde was again revalued, this time at a rate of three hundred to one. In the early years of this third gourde, only banknotes were being issued and the name piastre was sometimes used instead of gourde,
The speciedaler was the currency of Norway between 1816 and 1875. It replaced the rigsdaler specie at par and was subdivided into 120 skilling (called skilling species on some issues). It was replaced by the Norwegian krone when Norway joined the Scandinavian Monetary Union. An equal valued krone/krona of the monetary union replaced the three currencies at the rate of 1 krone/krona = ½ Danish rigsdaler = ¼ Norwegian speciedaler = 1 Swedish riksdaler.
In 1816, coins in circulation from the previous currency remained in circulation, with only 1 skilling coins being minted. A new coinage was introduced in 1819, consisting of copper 1 and 2 skilling and silver 8 and 24 skilling, ½ and 1 specidaler. Silver 2 and 4 skilling coins were introduced in 1825, followed by copper ½ skilling pieces in 1839, silver 12 skilling in 1845 and silver 3 skilling in 1868.
Norges Bank began issuing notes in 1817, with denominations of 24 skilling, ½, 1, 5, 10, 50 and 100 speciedaler.
The krona (plural: kronor; sign: kr; code: SEK) has been the currency of Sweden since 1873. Both the ISO code "SEK" and currency sign "kr" are in common use; the former precedes or follows the value, the latter usually follows it, but especially in the past, it sometimes preceded the value. In English, the currency is sometimes referred to as the Swedish crown, since krona literally means crown in Swedish.
One krona is subdivided into 100 öre (singular and plural; when referring to the currency unit itself, however, the plural is ören). However, all öre coins have been discontinued as of 30 September 2010. Goods can still be priced in öre, but all sums are rounded to the nearest krona when paying with cash.
The introduction of the krona, which replaced at par the riksdaler, was a result of the Scandinavian Monetary Union, which came into effect in 1873 and lasted until World War I. The parties to the union were the Scandinavian countries, where the name was krona in Sweden and krone in Denmark and Norway, which in English literally means "crown". The three currencies were on the gold standard, with the krona/krone defined as ⁄2480 of a kilogram of pure gold.
After dissolution of
The somoni (Tajik: cомонӣ, ISO 4217 code: TJS) is the currency of Tajikistan. It is subdivided into 100 diram (Tajik: дирам). The currency is named after the father of the Tajik nation, Ismail Samani (also spelled Ismoil Somoni).
The somoni was introduced on 30 October 2000; it replaced the Tajikistani ruble, at the rate of 1 somoni = 1000 rubles.
The currency is divided into 100 diram for one somoni. Diram banknotes were first introduced on 30 October 2000 to start the currency off and coins were introduced later in 2001 with the intention of creating a more efficient monetary system and gradually replacing the diram notes. This was also the first time circulating coins were introduced in Tajikistan.
Circulation coins, first issued in 2001 were struck in denominations of 5, 10, 20, 25, 50 diram composed of brass clad steel and 1, 3, and 5 somoni in nickel clad steel. Bimetallic 3 and 5 somoni coins were first released in 2003. The reverse of all somoni coins are changed annually and commemorate various events. A second issue dated 2011 was issued in June 2012, and included 5, 10, 20, 50 dirams and 1 somoni.
Tajikistan coins are struck by Goznak at the Saint Petersburg Mint in
The yuan ( /jʊˈɑːn/ or /ˈjuːən/; sign: ¥; code: CNY; Chinese: 元 yuán [ɥɛ̌n] ( listen)) is the base unit of a number of modern Chinese currencies. The yuan is the primary unit of account of the Renminbi.
A yuán (元) is also known colloquially as a kuài (块 "lump", originally of silver). One yuán is divided into 10 jiǎo (角) or colloquially máo (毛 "feather"). One jiǎo is divided into 10 fēn (分).
The symbol for the yuan (元) is also used to refer to the currency units of Japan and Korea, and is used to translate the currency unit dollar as well as some other currencies; for example, the US dollar is called Měiyuán (美元), or American yuan, in Chinese, and the euro is called Oūyuán (欧元), or European yuan. When used in English in the context of the modern foreign exchange market, the Chinese yuan most commonly refers to the renminbi (CNY), which traded for US$0.1575 on August 31, 2012.
Yuan in Chinese literally means a "round object" or "round coin". During the Qing Dynasty, the yuan was a round and silver coin.
The character for yuan has two forms—a less formal, 元, and a more formal, 圓 or 圆. The pronunciation of the two in Mandarin Chinese is the same—yuán. However, in Wu Chinese, as
The Ghanaian pound was the currency of Ghana between 1958 and 1965. It was subdivided into 20 shillings, each of 12 pence. Until 1958, Ghana used the British West African pound, after which it issued its own currency. In 1965, Ghana introduced the first cedi at a rate of 1 pound = 2.4 cedi, i.e., 1 cedi = 100 pence.
In 1958, Bronze coins were issued for ½ and 1 penny, along with cupro-nickel 3 and 6 pence, 1 and 2 shillings. The 3 pence coin was scalloped in shape.
In 1958, banknotes were introduced in denominations of 10 shillings, 1 and 5 pounds. They were produced until 1962, except for the 10 shillings which was produced until 1963.
The dinar (Serbian: динар) was the currency in Republic of Serbian Krajina between 1992 and 1994.
There were three distinct dinars. The first was introduced in July 1992 in parallel with the new Yugoslav dinar of that year, to which it was equal. The second dinar replaced the first at a rate of 1 million to one on October 1, 1993, whilst the third replaced the second at a rate of 1 billion (10) to one on January 1, 1994. In 1995, Croatia took control of the region and the Croatian kuna became the currency. No coins were issued for any of the three dinara.
In 1991, three uniface war loan certificates denominated in 10,000-, 20,000-, and 50,000-динара (dinara) were prepared, but never issued. Although these resemble banknotes, they are not banknotes. These were followed, in 1992, by regular type notes for 10, 50, 100, 500, 1000 and 5000 dinars. Later in 1992, notes were issued by the Narodna Banka Republike Srpske Krajine (National Bank of Republic of Srpska Krajina) in denominations of 10,000 and 50,000 dinars. These were followed by notes for 100,000, 1 million, 5 million, 10 million, 20 million, 50 million, 100 million, 500 million, 1 billion, 5 billion and 10 billion dinars. When
The ouguiya (sign: UM; Arabic: أوقية; currency code: MRO), also spelt "ougiya", is the currency of Mauritania. It is the only circulating currency other than the Malagasy ariary whose division units are not based on a power of ten, each ouguiya comprising five khoums (singular and plural in English, Arabic: خمس, meaning "one fifth").
The ouguiya was introduced in 1973, replacing the CFA franc at a rate of 1 ouguiya = 5 francs.
In 1973, ⅕ (1 khoums), 1, 5, 10 and 20 ouguiya coins were introduced. This was the only year that the khoums was minted, as the ouguiya was worth five CFA Francs a khoums was the equivalent of the franc (which had no subdivision). The most recent issues were in 2003 (1 ouguiya) and 2004 (other denominations). Coins are minted at the Kremnica mint in Slovakia. The coinage was slightly changed in 2009, with a reduced 1 ouguiya in plated composition and a bi-metallic 20 ouguiya issued. A bi-metallic 50 ougiya was issued December 2010.
In 1973, notes were issued by the Central Bank of Mauritania (Banque Centrale de Mauritanie) in denominations of 100, 200 and 1,000 ouguiya. In 1974, a second series of notes was issued in the same denominations, with 500 ouguiya
The perper (Serbian Cyrillic: Перпер; plural перпери) was the currency of Montenegro between 1906 and 1918. The name was adopted in accordance to the earlier Serbian perper, the currency of the Serbian Empire, to which the Principality, later Kingdom of Montenegro, consider itself a successor. It was divided into 100 pare (singular para, Serbian: паре, пара) and was equivalent to the French franc as part of the Latin Monetary Union. The perper was replaced by the dinar when Montenegro became part of the Kingdom of the Serbs, Croats and Slovenes (later Yugoslavia).
At the end of the 20th century, Montenegro contemplated issuing the perper again. However, it decided to adopt the Deutsche mark instead, and later followed the change to the euro.
In 1906, coins were issued in denominations of 1, 2, 10 and 20 pare. The 1 and 2 pare were bronze, the 10 and 20 pare were nickel. In 1909, silver 1 and 5 perpera coins were added, followed by 2 perpera in 1910. Gold 10 and 20 perpera were also issued in 1910, along with very limited numbers of 100 perpera coins.
Banknotes were issued in 1912 by the treasury in denominations of 1, 2, 5, 10, 50 and 100 perpera. In 1914, the government issued
The rupee (Nepali: रूपैयाँ) is the official currency of Nepal. The present rupee has the ISO 4217 code NPR and is normally abbreviated with the sign ₨. It is subdivided into 100 paisa. The issuance of the currency is controlled by the Nepal Rastra Bank. The most commonly used symbol for the Rupee is Rs or ₨.
The rupee was introduced in 1932, replacing the silver mohar at a rate of 2 mohar = 1 rupee. Initially, the rupee was called the mohru in Nepalese. Its value was pegged to the Indian rupee in 1993 at a rate of 1.6 Nepalese rupees = 1 Indian rupee.
In 1932, silver 20 and 50 paisa and 1 rupee coins were introduced, followed by copper 1, 2 and 5 paisa between 1933 and 1935. In the 1940s, copper ¼ and ½ paisa and nickel-brass 5 paisa were added. In 1953, a new coinage was introduced consisting of brass 1, 2 and 4 paisa, bronze 5 and 10 paisa, and cupro-nickel 20, 25 and 50 paisa and 1 rupee. The 20 paisa was discontinued after 1954.
In 1966, aluminium 1, 2 and 5 paisa and brass 10 paisa were introduced. Aluminium 25 paisa coins were introduced in 1982, followed by stainless steel 50 paisa and 1 rupee in 1987 and 1988. In 1994, smaller 10 and 25 paisa coins were issued, alongside
The paʻanga is the currency of the Tonga. It is controlled by the National Reserve Bank of Tonga (Pangikē Pule Fakafonua ʻo Tonga) in Nukuʻalofa. The paʻanga is not convertible and is pegged to a basket of currencies comprising the Australian, New Zealand, and United States dollars and the Japanese yen.
The paʻanga is subdivided into 100 seniti. The ISO code is TOP, and the usual abbreviation is T$ (¢ for seniti). In Tonga the paʻanga is often referred to in English as the dollar and the seniti as the cent. There is also the unit of hau (1 hau = 100 paʻanga) but this is not used in every day life and can only be found on commemorative coins of higher denominations.
Entada phaseoloides, native name paʻanga, is a bean-like vine producing large pods with large reddish brown seeds. The seeds are roundish, up to 5 cm diameter and 1 or 2 cm thick. When strung together they are used as anklets, part of the kailao dance costume. They were also used as playing pieces in an ancient disc-throwing game, lafo.
On 1 December 1806 Tongans attacked the passing ship Port-au-Prince in order to take it over. They failed, as the crew sank the vessel. The chief of Haʻapai, Fīnau ʻUlukālala, resorted to
A silver coin, the akçe (Ottoman Turkish: آقچه) was the chief monetary unit of the Ottoman Empire. Three akçes were equal to one para. One-hundred and twenty akçes equalled one kuruş. Later the kuruş became the main unit of account, replacing the akçe. In 1843, the silver kuruş was joined by the gold lira in a bimetallic system.
The Suleiman Mosque in Istanbul is said to have cost 59 million akçe when it was constructed in the 1550s. This amount is said to have equalled 700,000 ducats in gold (probably Venetian).
The florin (sign: Afl.; code: AWG) is the currency of Aruba. It is subdivided into 100 cents. The florin was introduced in 1986, replacing the Netherlands Antillean guilder at par.
The florin was introduced in 1986, replacing the Netherlands Antillean guilder at par. The currency has maintained the peg inherited from the gulden of 1.78 florin per 1 US dollar. Due to this fact, and also because of a growing amount of American tourism, US dollars are often used as the de facto currency instead of Aruban florins at many businesses, especially in the hotel and resort areas of the island.
In 1986, coins were introduced in denominations of 5, 10, 25 and 50 cents, 1 and 2½ florin. Later, the 5 florin note was replaced by a square coin and the 2½ coin was discontinued. The 5 florin was later on in 2005 replaced with a round golden coin. All coins are struck in nickel-bonded steel with exception of the 5 florin, which is an alloy of copper and other metals. The 50 cent is the only square-shaped coin remaining, also known as "yotin".
The Centrale Bank van Aruba (Central Bank of Aruba) introduced banknotes in denominations of 5, 10, 25, 50 and 100 florin and dated January 1, 1986. In 1990,
The franc (French: franc, Dutch: frank, German: Frank) was the currency of Belgium until 2002 when the euro was introduced into circulation. It was subdivided into centimes (French), 100 centiem (Dutch) or Centime (German).
The conquest of most of western Europe by revolutionary and Napoleonic France led to the French franc's wide circulation. In the Austrian Netherlands (now Belgium), the franc replaced the kronenthaler. This was in turn replaced by the Dutch guilder when the United Kingdom of the Netherlands was formed.
Following independence from the Kingdom of the Netherlands, the new Kingdom of Belgium in 1832 adopted its own franc, equivalent to the French franc, followed by Luxembourg in 1848 and Switzerland in 1850. Newly-unified Italy adopted the lira on a similar basis in 1862.
In 1865 France, Belgium, Switzerland and Italy created the Latin Monetary Union (to be joined by Greece in 1868): each would possess a national currency unit (franc, lira, drachma) worth 4.5 g of silver or 290.322 mg of fine gold, all freely exchangeable at a rate of 1:1. In the 1870s the gold value was made the fixed standard, a situation which was to continue until 1914.
In 1926, Belgium, as well
The rupee was the currency of Bhutan until 1974. It was equivalent to the Indian rupee. Until 1957, it was subdivided into 64 paisa. Bhutan then followed India in decimalizing, with the rupee subdivided into 100 naya paisa. The rupee was replaced by the ngultrum at par.
Until its closure in 1789, the coins of the Cooch Behar mint circulated in Bhutan. Following this, Bhutan began issuing its own coins, mostly silver ½ rupees. Hammered silver and copper coins were the only types issued until 1929, when modern style silver ½ rupee coins were introduced, followed by bronze 1 paisa in 1931 (dated 1928). Nickel ½ rupee coins were introduced in 1950. Indian coins circulated alongside Bhutan's own coins to such an extent that, following decimalization in 1957, nine years passed before Bhutan's first issue of coins denominated in naya paisa. These 1966 issues were 25 and 50 naya paisa, together with 1 rupee coins, all struck in cupro-nickel.
The riel (Khmer: រៀល; sign: ៛; code: KHR) is the currency of Cambodia. There have been two distinct riel, the first issued between 1953 and May 1975. Between 1975 and 1980, the country had no monetary system. A second currency, also named "riel", has been issued since April 1, 1980. However, this currency has never gained much public acceptance, with most Cambodians preferring foreign currency. The UN peacekeeping operation of 1993 injected a large quantity of U.S. dollars into the local economy. As a result, the dollar has become the country's common currency. Riel notes are used for fractional dollar amounts as U.S. coins are not in circulation. The symbol is encoded in Unicode at U+17DB ៛ khmer currency symbol riel (HTML: ៛).
In 1953, the Cambodia branch of the Institut d'Emission des Etats du Cambodge, du Laos et du Vietnam issued notes dual denominated in piastre and riel with the riel being at par with the piastre. At the same time, the two other branches of the Institut had similar arrangements with the đồng in South Vietnam and the kip in Laos. The piastre itself was derived from Spanish pieces of eight (pesos).
The riel was at first subdivided into 100 centimes
The Czechoslovak koruna (in Czech and Slovak: Koruna československá, at times Koruna česko-slovenská; koruna means crown) was the currency of Czechoslovakia from April 10, 1919 to March 14, 1939 and from November 1, 1945 to February 7, 1993. For a brief time in 1939 and 1993 it was also the currency in separate Czech and Slovak republics.
On February 8, 1993 it was replaced by the Czech koruna and the Slovak koruna, both at par.
The (last) ISO 4217 code and the local acronyms for the koruna were CSK and Kčs. One koruna equalled 100 haléřů (Czech, singular: haléř) or halierov (Slovak, singular: halier). In both languages, the abbreviation h was used. The acronym was placed behind the numeric value.
A currency called the Krone in German was introduced in Austria-Hungary on 11 September 1892, as the first modern gold-based currency in the area. After the creation of an independent Czechoslovakia in 1918, an urgent need emerged for the establishment of a new currency system that would distinguish itself from the currencies of the other newly born countries suffering from inflation. The next year, on 10 April 1919, a currency reform took place, defining the new koruna as equal in value
The krone (plural: kroner; sign: ,- or kr.; code: DKK) has been the official currency of Denmark, Greenland and the Faroe Islands, since 1 January 1875. Both the ISO code "DKK" and currency sign "kr." are in common use; the former precedes the value, the latter usually follows it. The currency is sometimes referred to as the Danish crown in English, since krone literally means crown.
One krone is subdivided into 100 øre (singular and plural), the name deriving from the Latin aureus. All-together there are eleven denominations of the krone, with the smallest being the 50-øre coin, which is valued at one half of a krone. Formerly there were more øre coins, but these were discontinued due to inflation.
The krone is pegged to the euro via the ERM II, the European Union's exchange rate mechanism. Adoption of the euro is favoured by the major political parties, however a 2000 referendum on joining the Eurozone was defeated with 46.8% voting yes and 53.2% voting no.
The first actual organised coinage was created by Knud den Store (Canute the Great) in the 1020s. Lund was the principal minting place and one of Denmark's most important cities in the Middle Ages, but coins were also minted
The Gulden was the currency of Free City of Danzig (German: Freie Stadt Danzig; Polish: Wolne Miasto Gdańsk) between 1923 and 1939. It was divided into 100 Pfennige. Until 1923, Danzig issued paper money denominated in Marks. The Gulden was not introduced at a specific rate to the mark but at a value of 25 Gulden = 1 pound sterling. Following incorporation into Nazi Germany at the beginning of the Second World War, the Reichsmark replaced the Gulden at a rate of 0.7 Reichsmark = 1 Gulden.
Coins were issued in denominations of 1, 2, 5 and 10 Pfennige and ½, 1, 2, 5, 10 and 25 Gulden.
Banknotes were issued in denominations of 1, 2, 5, 10, 25 and 50 Pfennige and 1, 2, 5, 10, 20, 25, 50, 100, 500 and 1,000 Gulden.
For an earlier currency used in Danzig, see Danzig Thaler.
East Timor centavo coins were introduced in East Timor in 2003 for use alongside United States Dollar banknotes and coins, which had been introduced in 2000 to replace the Indonesian rupiah following the commencement of U.N. administration. One centavo is equal to one US cent. The coins are in denominations of 1, 5, 10, 25 and 50 centavos and feature pictures of local plants and animals. East Timor does not yet issue its own banknotes.
The coins are minted in Lisbon by the Imprensa Nacional-Casa da Moeda, the Portuguese national mint.
The ekwele or ekuele was the currency of Equatorial Guinea between 1975 and 1985. Although nominally divided into 100 céntimos, no subdivisions were issued. The name ekuele (plural the same) was used until 1979, whilst ekwele (plural bipkwele) was used after.
The ekuele replaced the peseta guineana at par, whilst the ekwele was replaced by the Central African CFA franc (written franco on Equatorial Guinean coins and banknotes) at a rate of 1 franco = 4 bipkwele.
The first coins were issued in 1975. These were 1, 5 and 10 ekuele denominations. In 1980 and 1981, coins of 1 ekwele, 5, 25 and 50 bipkwele were issued. This second issue was made in smaller quantities than the first and these coins are considerably rarer today.
The "Banco Popular" issued notes from 25 to 1000 ekuele in 1975, with the "Banco de Guinea Ecuatorial" taking over the production of paper money in 1979 and issuing notes in denominations from 100 up to 5000 bipkwele.
The kroon (sign: kr; code: EEK) was the official currency of Estonia for two periods in history: 1928–1940 and 1992–2011. Between 1 January and 14 January 2011, the kroon circulated together with the euro, after which the euro became the sole legal tender in Estonia. The kroon was subdivided into 100 cents (senti; singular sent). The word kroon (Estonian pronunciation: [ˈkroːn], crown) is related to that of the Nordic currencies (such as the Swedish krona and the Danish and Norwegian krone) and derived from the Latin word corona ("crown"). The kroon succeeded the mark in 1928 and was in use until the Soviet invasion in 1940, after which it was replaced by the Soviet ruble. After Estonia regained its independence, the kroon was reintroduced in 1992.
The kroon became the currency of Estonia on 1 January 1928 after having been a unit of account since 1924. It replaced the mark at a rate of 100 mark = 1 kroon. The kroon was subdivided into 100 senti.
In 1924, the kroon was pegged to the Swedish krona at par, with a gold standard of 2480 kroon = 1 kilogram of pure gold. The standard received real coverage with the reserves backing the kroon. The issue of treasury notes and exchange
The dalasi is the currency of the Gambia. It is subdivided into 100 bututs. The dalasi was adopted in 1971. It replaced the Gambian pound at a rate of 1 pound = 5 dalasi, i.e., 1 dalasi = 0.2 pound = 4 shillings.
In 1971, coins in denominations of 1, 5, 10, 25 and 50 bututs and 1 dalasi were introduced. The 1 and 5 bututs were struck in bronze while the 10 bututs was brass and the 25, 50 bututs and 1 dalasi were cupro-nickel. The reverse designs of the three higher denominations were taken from the corresponding denominations of the previous currency (1, 2 and 4 shillings), with the reverse designs for the lower three coins coming from the 6, 1 and 3 pence coins, respectively. All coins of this series depict former president, Dawda Jawara.
New 1 dalasi coins were introduced in 1987, modelled on the 50 pence coin of the United Kingdom. These replaced the larger, round dalasi coins which never saw as widespread use as the lower denominations.
In 1998, a new coin series was introduced, in which the effigy of Dawda Jawara was dropped and replaced with the national crest. However, older Jawara era coins still commonly circulate as legal tender. The 1 dalasi coin was also downsized in
The dollar or dala was the currency of Hawaii between 1847 and 1898. It was equal to the US dollar and was divided into 100 cents or keneta. Only sporadic issues were made which circulated alongside US currency.
Hawaii's first coins were issued in 1847. They were copper cents bearing the portrait of King Kamehameha III. The coins proved to be unpopular due to the poor quality image of the king. Although it is claimed the denomination was misspelled (hapa haneri instead of hapa haneli), the spelling "Hapa Haneri" was correct until the end the 19th century. The spelling "Haneri" (Hawaiian for "Hundred") appears on all $100 and $500 Hawaiian bank notes in circulation between 1879 and 1900.
In 1883, silver coins were issued in denominations of one dime (umi keneta in Hawaiian), quarter dollar (hapaha), half dollar (hapalua) and one dollar (akahi dala). The vast majority of these coins, were struck to the same specifications as current US coins by the San Francisco Mint. A tiny quantity (26 of each denomination) of proof examples were minted by the Philadelphia Mint for presentation purposes. Hawaiian coins continued to circulate for several years after the 1898 annexation to the United
The pengő (sometimes written as pengo or pengoe in English) was the currency of Hungary between 1 January 1927, when it replaced the korona, and 31 July 1946, when it was replaced by the forint. The pengő was subdivided into 100 fillér. Although the introduction of the pengő was part of a post-World War I stabilisation program, the currency survived only for 20 years and experienced the most serious hyperinflation ever recorded.
The Hungarian participle pengő means 'ringing' (which in turn derives from the verb peng, an onomatopoeic word equivalent to English 'ring') and was used from the 15-17th century to refer to silver coins making a ringing sound when struck on a hard surface, thus indicating their precious metal content. (The onomatopoeic word used for gold coins is csengő, an equivalent of English 'clinking' meaning a sharper sound; the participle used for copper coins is kongó meaning a deep pealing sound.) After the introduction of forint paper money in Hungary, the term pengő forint was used to refer to forint coins literally meaning 'ringing forint', figuratively meaning 'silver forint' or 'hard currency'.
At the beginning of the First World War precious metal coins were
The lira (plural lire) was the currency of Italy between 1861 and 2002 and Albanian Kingdom between 1941 and 1943. Between 1999 and 2002, the Italian lira was officially a national subunit of the euro. However, cash payments could be made in lire only, as euro coins or notes were not yet available.
The lira was also the currency of the Napoleonic Kingdom of Italy between 1807 and 1814.
The term originates from the value of a pound weight (Latin: libra) of high purity silver and as such is a direct cognate of the British pound sterling; in some countries, such as Cyprus and Malta, the words lira and pound were used as equivalents, before the euro was adopted in 2008 in the two countries. "L", sometimes in a double-crossed script form ("₤"; not to be confused with the single-crossed form "£" of the aforementioned pound), was the symbol most often used. Until the Second World War, it was subdivided into 100 centesimi (singular: centesimo), which translates to "hundredths".
The lira ultimately dates back to Charlemagne. Like the pound sterling, it represented one pound weight of silver, and was equal to 20 soldi or 240 denari. Before unification, many of the Italian states used the
The Kraków złoty (Polish: złotówka krakowska) - was a currency issued in the independent Free City of Kraków in 1835. It was subdivided into 30 groszy. The coins were minted in the Imperial Mint in Vienna.
The Free City of Kraków created in 1815 by the Congress of Vienna was granted the right to introduce its own currency but it chose to enter the monetary union with the Kingdom of Poland and did not implement the right to introduce its own currency until 1835. Between 1815 and 1835 the złoty of the Congress Kingdom of Poland was the official currency of the Free City of Kraków. During the November Uprising also the złoty introduced by the revolutionary government in the Kingdom of Poland was in circulation in the Free City. Its obverse featured the crowned coat of arms consisting of the Polish White Eagle and Lithuanian Vytis, replacing earlier used Russian two-headed eagle with an escutcheon with the Polish White Eagle on its chest. Following the defeat of the Polish army in the November Uprising (1831), the Russian government decided to remove an effigy of the Polish eagle from the currency of the Congress Kingdom of Poland, replacing it with the Russian two-headed eagle. This
The mohar was the currency of Nepal from the second half of the 17th century until 1932. Silver and gold mohars were issued, each subdivided into 128 dams. Copper dams were also issued, together with copper paisa worth 4 copper dams. The values of the copper, silver and gold coinages relative to one another were not fixed until 1903. In that year, the silver mohar became the standard currency, divided into 50 paisa. It was replaced in 1932 by the rupee, also called the mohru, at a rate of 2 mohars = 1 rupee.
In the reign of Girvan Yuddha (1799–1816), copper coins were issued for 1 and 2 dam and 2 paisa, with silver coins for 1 dam, ⁄32, ⁄16, ⅛, ¼, ½, ¾, 1, 1½ and 3 mohar and gold coins for 1 dam, ⁄32, ⁄16, ⅛, ¼, ½, 1, 1½ and 2 mohar.
In the reign of the next king (Rajendra, 1816–1847), no copper coins were issued, with silver ¾, 1½ and 3 mohar discontinued and 2 mohar introduced. Gold 1½ mohar were also discontinued.
Surendra (1847–1881) introduced a new copper coinage in 1866, consisting of 1 dam, 1 and 2 paisa, with ½ paisa issued from 1880. The silver coinage consisted of the same denominations as his predecessor, with the gold coinage similar except for the absence of the 2
The dollar was the currency of the colony and Dominion of Newfoundland from 1865 until 1949, when Newfoundland became a province of Canada. It was subdivided into 100 cents.
In 1865 Newfoundland adopted the gold standard, and the dollar replaced the pound at a rate of 1 dollar = 4 shillings 2 pence (50 pence) sterling, slightly higher than the Canadian dollar (worth 4s 1.3d). The significance of this rating was that two cents would be equal to one penny sterling. It was seen as a compromise between adopting the British system or the American system. It also had the effect of aligning the Newfoundland unit to the dollar unit in the British Eastern Caribbean colonies. The West Indian dollar was directly descended from the Spanish Dollar (Pieces of Eight). Newfoundland was unique in the British Empire in that it was the only part to introduce its own gold coin in conjunction with its gold standard. Newfoundland two dollar coins were minted intermittently until the Newfoundland banking crash of 1894. In 1895, following this banking crisis, the Canadian banks moved into Newfoundland and the value of the Newfoundland dollar was adjusted to set it equal to the Canadian dollar, a
The lira (plural lire) was the currency of San Marino from the 1860s until the introduction of the euro in 2002. It was equivalent to the Italian lira. Italian coins and banknotes and Vatican City coins were legal tender in San Marino, whilst Sammarinese coins, minted in Rome, were legal tender throughout Italy, as well as in the Vatican City.
San Marino's first coins were copper 5 centesimi, issued in 1864. These were followed by copper 10 centesimi, first issued in 1875. Although these copper coins were last issued in 1894, silver 50 centesimi, 1, 2 and 5 lire were issued in 1898, with the 1 and 2 lire also minted in 1906.
The Sammarinese coinage recommenced in 1931, with silver 5, 10 and 20 lire, to which bronze 5 and 10 centesimi were added in 1935. These coins were issued until 1938.
In 1972, San Marino began issuing coins again, in denominations of 1, 2, 5, 10, 20, 50, 100 and 500 lire, all of which were struck to the same specifications as the corresponding Italian coins. 200 lire coins were added in 1978, followed by bimetallic 500 and 1000 lire in 1982 and 1997, respectively. All of these modern issues have changed design every year.
The dinar (Arabic: دينار) was the currency of South Arabia and then South Yemen between 1965 and 1990. It was subdivided into 1000 fils (فلس). After Yemen's monetary unification on 1 July 1990, it was one of the two official currencies used in Yemen Republic until 11 June 1996.
The dinar was introduced in 1965 as the South Arabian Dinar, replacing the East African shilling at a rate of 1 dinar = 20 shillings, thus setting the dinar initially equal to the British pound. It was renamed the South Yemini dinar after the Aden Protectorate became independent in 1967 as the South Yemen. The South Yemeni dinar was replaced by the rial following unification with North Yemen. The exchange rate was 1 dinar = 26 rial. Dinar banknotes remained legal tender until 1996.
For a wider history surrounding currency in the region, see The History of British Currency in the Middle East.
In 1965, coins (dated 1964) were introduced for South Arabia in denominations of 1, 5, 25 and 50 fils. The 1 fils was struck in aluminium, the 5 fils in bronze and the higher two denominations in cupro-nickel. In 1971, coins were issued in the name of "Democratic Yemen", changing to the "People's democratic Republic of
The franc (sign: Fr. or SFr.; German: Franken, French and Romansh: franc, Italian: franco; code: CHF) is the currency and legal tender of Switzerland and Liechtenstein; it is also legal tender in the Italian exclave Campione d'Italia. Although not formally legal tender in the German exclave Büsingen (the sole legal currency is the euro), it is in wide daily use there. The Swiss National Bank issues banknotes and the federal mint Swissmint issues coins.
The Swiss franc is the only version of the franc still issued in Europe. The smaller denomination, a hundredth of a franc, is a Rappen (Rp.) in German, centime (c.) in French, centesimo (ct.) in Italian, and rap (rp.) in Romansh. The ISO code of the currency used by banks and financial institutions is CHF, although "Fr." is used by most businesses and advertisers; some use SFr.; the Latinate "CH" stands for Confoederatio Helvetica.
Given the quadrilingual populace, Latin is used for language-neutral inscriptions on the coins.
Before 1798, about 75 entities were making coins in Switzerland, including the 25 cantons and half-cantons, 16 cities, and abbeys, resulting in about 860 different coins in circulation, with different values,
The rial (also called the rial sebili or piastre in French) was the currency of Tunis until 1891. It was subdivided into 16 kharub (caroub), each of 13 fals (burbe). The fals was further subdivided into 6 qafsi (burben). The nasri (asper) was worth 2 fals. The denomination was often either not given on coins or only indicated by a numeral. Some rial denominated coins have a numeral over the Arabic letter r, ر.
The rial was issued by the Ottoman rulers of Tunis. Although known as the piastre by Europeans, it was not equal to the Turkish kuruş, also known as the piastre. From 1855, the rial was on a bimetallic standard of 1 rial = 0.17716 grams pure gold or 2.7873 grams pure silver. In 1887, the gold content of the 25 rial coin was slightly reduced to make it equivalent to 15 French francs. In 1891, this conversion rate (more conveniently expressed as 1 rial = 60 centimes) was used when the Tunisian franc replaced the rial.
In the early 19th century, copper 1 fals coins were issued, together with billon 1 nasri, 1, 2, 4 and 8 kharub, 1 and 2 rial, and gold sultani. A new coinage was introduced in 1847, consisting of copper 1 fals, 1 nasri, ½ and 1 kharub and silver 2 and 5 rial
The Vereinsthaler ("union" thaler) was a standard silver coin used in most German states and the Austrian Empire in the years before German unification.
The Vereinsthaler was introduced in 1857 to replace the previous standard Thaler (based on the Prussian Thaler) which was very slightly heavier. While the earlier Thaler had contained one fourteenth of a Cologne mark of silver (16.704 grams), the Vereinsthaler contained 16⅔ grams of silver, which was indicated on the coins as one thirtieth of a metric pound (pfund, equal to 500 grams).
The Vereinsthaler was used as the base for several different currencies. In Prussia and several other northern German states, the Vereinsthaler was the standard unit of account, divided into 30 Silbergroschen, each of 12 Pfennig. See Prussian Vereinsthaler.
In Saxony, the Neugroschen was equal to the Prussian Silbergroschen but was divided into 10 Pfennig. See Saxon Vereinsthaler. Some other north German states, such as Hannover, used the name Groschen rather than Silbergroschen for a coin of 12 Pfennig (see Hannovarian Vereinsthaler), while the Mecklenburg states and Hesse-Kassel (or Hesse-Cassel) used entirely distinct subdivisions (see Mecklenburg