The dirham is the currency of Morocco. It is issued by the central bank of Morocco, it is subdivided into 100 centimes. 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 500 Mazunas = 10 dirham = 1 rial; when most of Morocco became a French protectorate in 1912 it switched to the Moroccan franc. The dirham was reintroduced on 16 October 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 1 dirham and silver 5 dirham coins in 1965. In 1974, with the introduction of the santim, a new coinage was introduced in denominations of 1, 5, 10, 20 and 50 santimat and 1 dirham; the 1 santim coins were aluminium, the 5 up to 20 santimat were minted in brass, with the highest two denominations in cupro-nickel.
Cupro-nickel 5 dirham coins were added in 1980 and changed to a bi-metal coin in 1987. The bi-metal coins bear two year designations for the issue date—1987 in the Gregorian calendar and the 1407 in the Islamic calendar; the 1 santim was only minted until 1987 when new designs were introduced, with a ½ dirham replacing the 50 santimat without changing the size or composition. The new 5 dirham coin was bimetallic, as was the 10 dirham coin introduced in 1995. Cupro-nickel 2 dirham coins were introduced in 2002. In 2011, a new series of coins has been issued, with the 5 and 10 dirham coin utilizing a latent image as a security feature; the first notes denominated in dirham were overprints on earlier franc notes, in denominations of 50 dirhams and 100 dirhams. In 1965, new notes were issued for 10 and 50 dirhams. 100 dirham notes were introduced in 1970, followed by 200 dirham notes in 1991 and 20 dirham notes in 1996. 5 dirham notes were replaced by coins in 1980, with the same happening to 10 dirham notes in 1995.
In mid-October 2009, Bank Al-Maghrib issued four million 50-dirham banknotes to commemorate the bank's 50th anniversary. The commemorative note measures 147 x 70 mm and features the portraits of Kings Mohammed VI, Hassan II, Mohammed V; the back of the notes features the headquarters of Bank Al-Maghrib in Rabat. The speech delivered in 1959 by Mohammed V at the opening of Bank Al-Maghrib is microprinted on the back. In December 2012, Bank-Al Maghrib issued a 25-dirham banknote to commemorate the 25th anniversary of banknote production at the Moroccan State Printing Works, Dar As-Sikkah, it is the first banknote in the world to be printed on Durasafe, a paper-polymer-paper composite substrate produced by Fortress Paper. The front of the commemorative note features an intaglio vignette and a watermark of King Mohammed VI, a magenta-green color shift security thread; the thread, like the watermark, is embedded inside the banknote yet visible behind a one-sided Viewsafe polymer window. It has a transparent polymer window embossed with the King's royal crest.
The back of the note carries a print vignette commemorating 25 years of banknote printing at the Moroccan State Printing Works, Dar As-Sikkah. The windows in Durasafe are formed by die cutting each side of the three layer composite substrate separately. One-sided Viewsafe windows give a clear view inside the substrate where the thread and the watermark of King Mohammed VI are protected, but visible behind the polymer core; the transparent Thrusafe window is created by die-cutting both the outer paperlayers to reveal only the transparent polymer core. On August 15, 2013, Bank Al-Maghrib has announced a new series of banknotes; the notes feature a portrait of the royal crown. Each of the notes show a Moroccan door to the left of the portrait, demonstrating the richness of the country's architectural heritage, symbolizing the openness of the country. Popular denominations are words used in Morocco to refer to different values of the currency; those include the rial, equivalent to 5 santimat, the franc, equivalent to 1 santim.
When dealing with goods with a value lower than a dirham, it is common to use the rial or santim. For high priced goods, such as cars, it is normative to refer to the price in santimat. However, rial is used when centime when speaking in French. Though not used by the young generation, the denomination 1000, 2000... to 100,000 francs will be used by people who lived during the French colonial period when referring to 10, 20 and 1000 dirham. Rial is used for higher value than portions of the dirham, reaching 5000 dhs; this denomination is used in Moroccan Arabic speaking context in popular milieu such as old medina souks or vegetable markets. Moroccan dirham is accepted in trade markets in Ceuta, despite the prices being displayed in Euro. Economy of Morocco Heiko Otto. "Historical banknotes of Morocco". Retrieved 2017-01-03
Monaco the Principality of Monaco, is a sovereign city-state and microstate on the French Riviera in Western Europe. France borders the country on three sides. Monaco has an area of 2.020 km2, making it the second-smallest country in the world after the Vatican. Its population was about 38,400 based on the last census of 2016. With 19,009 inhabitants per km², it is the most densely-populated sovereign state in the world. Monaco has a land border of 5.47 km, a coastline of 3.83 km, a width that varies between 1,700 and 349 m. The highest point in the country is a narrow pathway named Chemin des Révoires on the slopes of Mont Agel, in the Les Révoires Ward, 161 metres above sea level. Monaco's most populous Quartier is Monte Carlo and the most populous Ward is Larvotto/Bas Moulins. Through land reclamation, Monaco's land mass has expanded by 20 percent. Monaco is known as a playground for the famous, due to its tax laws. In 2014, it was noted. Monaco is a principality governed under a form of constitutional monarchy, with Prince Albert II as head of state.
Although Prince Albert II is a constitutional monarch, he wields immense political power. The House of Grimaldi has ruled Monaco, with brief interruptions, since 1297; the official language is French, but Monégasque and English are spoken and understood. The state's sovereignty was recognized by the Franco-Monegasque Treaty of 1861, with Monaco becoming a full United Nations voting member in 1993. Despite Monaco's independence and separate foreign policy, its defense is the responsibility of France. However, Monaco does maintain two small military units. Economic development was spurred in the late 19th century with the opening of the country's first casino, Monte Carlo, a railway connection to Paris. Since Monaco's mild climate and gambling facilities have contributed to the principality's status as a tourist destination and recreation centre for the rich. In more recent years, Monaco has become a major banking centre and has sought to diversify its economy into the services sector and small, high-value-added, non-polluting industries.
The state has no income tax, low business taxes, is well known for being a tax haven. It is the host of the annual street circuit motor race Monaco Grand Prix, one of the original Grands Prix of Formula One; the principality has a club football team. Monaco is not formally a part of the European Union, but it participates in certain EU policies, including customs and border controls. Through its relationship with France, Monaco uses the euro as its sole currency. Monaco joined the Council of Europe in 2004, it is a member of the Organisation Internationale de la Francophonie. Monaco's name comes from the nearby 6th-century BC Phocaean Greek colony. Referred to by the Ligurians as Monoikos, from the Greek "μόνοικος", "single house", from "μόνος" "alone, single" + "οἶκος" "house", which bears the sense of a people either settled in a "single habitation" or of "living apart" from others. According to an ancient myth, Hercules passed through the Monaco area and turned away the previous gods; as a result, a temple was constructed there, the temple of Hercules Monoikos.
Because the only temple of this area was the "House" of Hercules, the city was called Monoikos. It ended up in the hands of the Holy Roman Empire. An ousted branch of a Genoese family, the Grimaldi, contested it for a hundred years before gaining control. Though the Republic of Genoa would last until the 19th century, they allowed the Grimaldi family to keep Monaco, both France and Spain left it alone for hundreds of years. France did not annex it until the French Revolution, but after the defeat of Napoleon it was put under the care of the Kingdom of Sardinia. In the 19th century, when Sardinia became a part of Italy, the region came under French influence again but France allowed it to remain independent. Like France, Monaco was overrun by the Axis powers during the Second World War and for a short time was administered by Italy the Third Reich, before being liberated. Although the occupation lasted for just a short time, it meant the deportation of the Jewish population and execution of several resistance members from Monaco.
Since Monaco has been independent. It has taken some steps towards integration with the European Union. Following a land grant from Emperor Henry VI in 1191, Monaco was refounded in 1215 as a colony of Genoa. Monaco was first ruled by a member of the House of Grimaldi in 1297, when Francesco Grimaldi, known as "Il Malizia", his men captured the fortress protecting the Rock of Monaco while dressed as Franciscan monks—a monaco in Italian, although this is a coincidence as the area was known by this name. Francesco, was evicted only a few years afterwards by the Genoese forces, the struggle over "the Rock" continued for another century; the Grimaldi family was Genoese and the struggle was something of a family feud. However, the Genoese became engaged in other conflicts, in the late 1300s Genoa became involved in a conflict with the Crown of Aragon over Corsica; the Crown of Aragon became a part of Spain through marriage and other parts drifted into various pieces of other
A coin is a small, round piece of metal or plastic used as a medium of exchange or legal tender. They are standardized in weight, produced in large quantities at a mint in order to facilitate trade, they are most issued by a government. Coins are metal or alloy, or sometimes made of synthetic materials, they are disc shaped. Coins made of valuable metal are stored in large quantities as bullion coins. Other coins are used as money in everyday transactions; the highest value coin in circulation is worth less than the lowest-value note. In the last hundred years, the face value of circulation coins has been lower than the value of the metal they contain, for example due to inflation. If the difference becomes significant, the issuing authority may decide to withdraw these coins from circulation issuing new equivalents with a different composition, or the public may decide to melt the coins down or hoard them. Exceptions to the rule of face value being higher than content value occur for some bullion coins made of copper, silver, or gold, intended for collectors or investors in precious metals.
Examples of modern gold collector/investor coins include the British sovereign minted by the United Kingdom, the American Gold Eagle minted by the United States, the Canadian Gold Maple Leaf minted by Canada, the Krugerrand, minted by South Africa. While the Eagle, Maple Leaf, Sovereign coins have nominal face values, the Krugerrand does not. A great quantity of coinage metals and other materials have been used to produce coins for circulation and metal investment: bullion coins serve as more convenient stores of assured metal quantity and purity than other bullion. Metal ingots, silver bullion or unmarked bars were in use for exchange among many of the civilizations that mastered metallurgy; the weight and purity of bullion would be the key determinant of value. In the Achaemenid Empire in the early 6th century BC, coinage was yet unknown, barter and to some extent silver bullion was used instead for trade; the practice of using silver bars for currency seems to have been current in Central Asia from the 6th century BC.
Coins were an evolution of "currency" systems of the Late Bronze Age, where standard-sized ingots, tokens such as knife money, were used to store and transfer value. In the late Chinese Bronze Age, standardized cast tokens were made, such as those discovered in a tomb near Anyang; these were replicas in bronze of earlier Chinese currency, cowrie shells, so they were named Bronze Shell. The earliest coins are associated with Iron Age Anatolia of the late 7th century BC, with the kingdom of Lydia. Early electrum coins were not standardized in weight, in their earliest stage may have been ritual objects, such as badges or medals, issued by priests; the unpredictability of the composition of occurring electrum implied that it had a variable value, which hampered its development. Most of the early Lydian coins include no writing, only an image of a symbolic animal. Therefore, the dating of these coins relies on archaeological evidence, with the most cited evidence coming from excavations at the Temple of Artemis at Ephesus called the Ephesian Artemision, site of the earliest known deposit of electrum coins.
Because the oldest lion head "coins" were discovered in that temple, they do not appear to have been used in commerce, these objects may not have been coins but badges or medals issued by the priests of that temple. Anatolian Artemis was the Πὀτνια Θηρῶν, it took some time before ancient coins were used for trade. The smallest-denomination electrum coins worth about a day's subsistence, would have been too valuable for buying a loaf of bread; the first coins to be used for retailing on a large-scale basis were small silver fractions, Ancient Greek coinage minted by the Ionian Greeks in the late sixth century BC. Many early Lydian and Greek coins were minted under the authority of private individuals and are thus more akin to tokens or badges than to modern coins, though due to their numbers it is evident that some were official state issues; the earliest inscribed coins are those of Phanes, dated to 625–600 BC from Ephesus in Ionia, with the legend ΦΑΝΕΟΣ ΕΜΙ ΣΗΜΑ, or just bearing the name ΦΑΝΕΟΣ.
The first electrum coins issued by a monarch are those minted by king Alyattes of Lydia, for which reason this king is sometimes mentioned as the originator of coinage. The successor of Alyattes, king Croesus, became associated with great wealth in Greek historiography, he is credited with issuing the Croeseid, the first true gold coins with a standardised purity for general circulation. And the world's first bimetallic monetary system circa 550 BCE. Herodotus mentioned the innovation made by the Lydians: "So far as we have any knowledge, they were the first people to introduce the use of gold and silver coins, the first who sold goods by retail" Coins spread in the 6th and 5th centuries BC, leading to the development of Ancient Greek coinage and Achaemenid coinage, further to Illyrian coinage. Standardized Roman currency
The peso is the currency of Colombia. Its ISO 4217 code is COP; the official peso symbol is $, with COL$ being used to distinguish it from other peso-denominated currencies. The peso has been the currency of Colombia since 1810, it replaced the real at a rate of 1 peso = 8 reales and was subdivided into 8 reales. In 1847, Colombia decimalized and the peso was subdivided into ten reales, each of 10 décimos de reales; the real was renamed the decimo in 1853, although the last reales 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 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 to depreciate and the exchange rate between coins and paper money was fixed at 100 peso moneda corriente = 1 coinage peso.
Between 1907 and 1914, coins were issued denominated in "peso p/m". In 1910, the Junta de Conversión began issuing paper money and, in 1915, a new paper currency was introduced, the peso oro; this was equal to the coinage peso and replaced the old peso notes at a rate of 100 old paper pesos = 1 peso oro. In 1931, when the U. K. left the gold standard, Colombia shifted its peg to the U. S. dollar, at a rate of 1.05 pesos, a slight devaluation from its previous peg. Although it never appeared on coins, Colombia's banknotes continued to be issued denominated in peso oro until 1993, when the word oro was dropped. Since 2001, the Colombian Senate has debated whether to redenominate the currency by introducing a new peso worth 1000 old pesos, in other words, to remove three zeroes from its face value; such a plan has yet to be adopted. However, the family of banknotes introduced in 2016 have the last three zeroes replaced by the word "mil", making the value easier to read. Between 1837 and 1839, the Republic of New Grenada introduced silver ¼, ½, 1, 2, 8 real coins, along with gold 1, 2, 16 pesos.
These were continuations of coins issued before 1837 in the name of the Republic of Colombia but with the escudo denominations replaced by pesos. In 1847, the currency was decimalized and coins were introduced in denominations of ½ and 1 décimo de real in copper and 1, 2, 8 and 10 reales in silver. ¼ and ½ real coins followed in 1849 and 1850. In 1853, silver ½ and 1 décimo, gold 10 peso coins were introduced, followed by 2 décimos in 1854 and 1 peso in 1855, both in silver. In 1856, gold 5 peso coins were added. Between 1859 and 1862, coins were issued by the Grenadine Confederation in silver for ¼, ½ and 2 reales, ¼, ½ and 1 décimo, 1 peso, in gold for 1, 2, 5, 10 and 20 pesos; the United States of New Grenada issued silver 1 décimo & 1 peso in 1861. Beginning in 1862, coins were issued by the United States of Colombia. Silver coins were struck in denominations of ¼, ½, 1, 2, 5 décimos, 1 peso, together with gold 1, 2, 5, 10 and 20 pesos. With the introduction of the centavo in 1872, silver 2½, 5, 10, 20, 50 centavos were issued, followed by cupro-nickel 1¼ centavos in 1874 and cupro-nickel 2½ centavos in 1881.
In 1886, the country's name reverted to the Republic of Colombia. The first issues were cupro-nickel 5 centavos. Except for silver 50 centavos issued between 1887 and 1889, no other denominations were issued until 1897, when silver 10 and 20 centavos were introduced. Silver 5 centavos were issued in 1902 In 1907, following the stabilization of the paper money, cupro-nickel 1, 2 and 5 pesos p/m were introduced and issued until 1916. In 1913, after the pegging of the peso to sterling, gold 2½ and 5 peso coins were introduced which were of the same weight and composition as the half sovereign and sovereign. Gold 10 pesos were issued in 1919 and 1924, with the 2½ and 5 pesos issued until 1929 and 1930, respectively. In 1918, the 1, 2 and 5 pesos p/m coins were replaced by 1, 2 and 5 centavo coins of the same size and composition. In 1942, bronze 1 and 5 centavo coins were introduced, followed by bronze 2 centavos in 1948. Between 1952 and 1958, cupro-nickel replaced silver in the 20 and 50 centavos.
In 1967, copper-clad-steel 1 and 5 centavos were introduced, together with nickel-clad-steel 10, 20 and 50 centavos and cupro-nickel 1 peso coins, the 2 centavos having ceased production in 1960. In 1977, bronze 2 pesos were introduced. In 1984, production of all coins below 1 peso ended. Higher denominations were introduced in the following years of high inflation. 5 peso coins were introduced in 1980, followed by 10 pesos in 1981, 20 pesos in 1982, 50 pesos in 1986, 100 pesos in 1992, 200 pesos in 1994, 500 pesos in 1993 and 1000 pesos in 1996. However, due to massive counterfeiting problems, the 1000 pesos was withdrawn by stages. By 2002, the coin was out of circulation. In 2012, the Bank of the Republic of Colombia issued a new series of coins with the 500 and 1000 peso coins now struck as Bi-metallic coins. All the coins have in the lower part of the reverse the year of production. Between 1857 and 1880, five of Colombia's provinces, Bolívar, Cundinamarca and Santander issued paper money.
Denominations included 1, 2, 3, 5, 10, 50 and 100 pesos. In the early 1860s, the Tesoría General de los Estados Unidos de Nueva Granada issued notes in denominations of 20 centavos, 1, 2, 3, 10, 20 and 100 pesos, with all denominations given in reales. In 1863, Treasury notes of the Estados Unidos de Colombia were introduced for 5, 10 and 20 centavos, 1, 2, 5, 10, 20 and 50 pesos. More than sixty private banks issued notes between 1865 and 1923. Denominations
A metal is a material that, when freshly prepared, polished, or fractured, shows a lustrous appearance, conducts electricity and heat well. Metals are malleable or ductile. A metal may be an alloy such as stainless steel. In physics, a metal is regarded as any substance capable of conducting electricity at a temperature of absolute zero. Many elements and compounds that are not classified as metals become metallic under high pressures. For example, the nonmetal iodine becomes a metal at a pressure of between 40 and 170 thousand times atmospheric pressure; some materials regarded as metals can become nonmetals. Sodium, for example, becomes a nonmetal at pressure of just under two million times atmospheric pressure. In chemistry, two elements that would otherwise qualify as brittle metals—arsenic and antimony—are instead recognised as metalloids, on account of their predominately non-metallic chemistry. Around 95 of the 118 elements in the periodic table are metals; the number is inexact as the boundaries between metals and metalloids fluctuate due to a lack of universally accepted definitions of the categories involved.
In astrophysics the term "metal" is cast more to refer to all chemical elements in a star that are heavier than the lightest two and helium, not just traditional metals. A star fuses lighter atoms hydrogen and helium, into heavier atoms over its lifetime. Used in that sense, the metallicity of an astronomical object is the proportion of its matter made up of the heavier chemical elements. Metals are present in many aspects of modern life; the strength and resilience of some metals has led to their frequent use in, for example, high-rise building and bridge construction, as well as most vehicles, many home appliances, tools and railroad tracks. Precious metals were used as coinage, but in the modern era, coinage metals have extended to at least 23 of the chemical elements; the history of metals is thought to begin with the use of copper about 11,000 years ago. Gold, iron and brass were in use before the first known appearance of bronze in the 5th millennium BCE. Subsequent developments include the production of early forms of steel.
Metals are lustrous, at least when freshly prepared, polished, or fractured. Sheets of metal thicker than a few micrometres appear opaque; the solid or liquid state of metals originates in the capacity of the metal atoms involved to lose their outer shell electrons. Broadly, the forces holding an individual atom’s outer shell electrons in place are weaker than the attractive forces on the same electrons arising from interactions between the atoms in the solid or liquid metal; the electrons involved become delocalised and the atomic structure of a metal can be visualised as a collection of atoms embedded in a cloud of mobile electrons. This type of interaction is called a metallic bond; the strength of metallic bonds for different elemental metals reaches a maximum around the center of the transition metal series, as these elements have large numbers of delocalized electrons. Although most elemental metals have higher densities than most nonmetals, there is a wide variation in their densities, lithium being the least dense and osmium the most dense.
Magnesium and titanium are light metals of significant commercial importance. Their respective densities of 1.7, 2.7 and 4.5 g/cm3 can be compared to those of the older structural metals, like iron at 7.9 and copper at 8.9 g/cm3. An iron ball would thus weigh about as much as three aluminium balls. Metals are malleable and ductile, deforming under stress without cleaving; the nondirectional nature of metallic bonding is thought to contribute to the ductility of most metallic solids. In contrast, in an ionic compound like table salt, when the planes of an ionic bond slide past one another, the resultant change in location shifts ions of the same charge into close proximity, resulting in the cleavage of the crystal; such a shift is not observed in a covalently bonded crystal, such as a diamond, where fracture and crystal fragmentation occurs. Reversible elastic deformation in metals can be described by Hooke's Law for restoring forces, where the stress is linearly proportional to the strain. Heat or forces larger than a metal's elastic limit may cause a permanent deformation, known as plastic deformation or plasticity.
An applied force may be a compressive force, or a shear, bending or torsion force. A temperature change may affect the movement or displacement of structural defects in the metal such as grain boundaries, point vacancies and screw dislocations, stacking faults and twins in both crystalline and non-crystalline metals. Internal slip and metal fatigue may ensue; the atoms of metallic substances are arranged in one of three common crystal structures, namely body-centered cubic, face-centered cubic, hexagonal close-packed. In bcc, each atom is positioned at the center of a cube of eight others. In fcc and hcp, each atom is surrounded by twelve others; some metals adopt different structures depending on the temperature. The
Morocco the Kingdom of Morocco, is a country located in the Maghreb region of North West Africa with an area of 710,850 km2. Its capital is the largest city Casablanca, it overlooks the Mediterranean Sea to the Atlantic Ocean to the west. Morocco claims the areas of Ceuta, Melilla and Peñón de Vélez de la Gomera, all of them under Spanish jurisdiction. Since the foundation of the first Moroccan state by Idris I in 788 AD, the country has been ruled by a series of independent dynasties, reaching its zenith under the Almoravid and Almohad dynasties, spanning parts of Iberia and northwestern Africa; the Marinid and Saadi dynasties continued the struggle against foreign domination, allowing Morocco to remain the only northwest African country to avoid Ottoman occupation. The Alaouite dynasty, which rules to this day, seized power in 1631. In 1912, Morocco was divided into French and Spanish protectorates, with an international zone in Tangier, it regained its independence in 1956, has since remained comparatively stable and prosperous by regional standards.
Morocco claims the non-self-governing territory of Western Sahara Spanish Sahara, as its Southern Provinces. After Spain agreed to decolonise the territory to Morocco and Mauritania in 1975, a guerrilla war arose with local forces. Mauritania relinquished its claim in 1979, the war lasted until a cease-fire in 1991. Morocco occupies two thirds of the territory, peace processes have thus far failed to break the political deadlock; the unitary sovereign state of Morocco is a constitutional monarchy with an elected parliament. The King of Morocco holds vast executive and legislative powers over the military, foreign policy and religious affairs. Executive power is exercised by the government, while legislative power is vested in both the government and the two chambers of parliament, the Assembly of Representatives and the Assembly of Councillors; the king can issue decrees called dahirs. He can dissolve the parliament after consulting the Prime Minister and the president of the constitutional court.
Morocco's predominant religion is Islam, its official languages are Arabic and Berber. E; the Moroccan dialect of Arabic, referred to as Darija, French are widely spoken. Moroccan culture is a blend of Berber, Sephardi Jews, West African and European influences. Morocco is a member of the Union for the Mediterranean and the African Union, it has the fifth largest economy of Africa. The full Arabic name al-Mamlakah al-Maghribiyyah translates to "Kingdom of the West". For historical references, medieval Arab historians and geographers sometimes referred to Morocco as al-Maghrib al-Aqṣá to distinguish it from neighbouring historical regions called al-Maghrib al-Awsaṭ and al-Maghrib al-Adná; the basis of Morocco's English name is Marrakesh, its capital under the Almoravid dynasty and Almohad Caliphate. The origin of the name Marrakesh is disputed, but is most from the Berber words amur akush or "Land of God"; the modern Berber name for Marrakesh is Mṛṛakc. In Turkish, Morocco is known as a name derived from its ancient capital of Fes.
However, this was not the case in other parts of the Islamic world: until the middle of the 20th century, the common name of Morocco in Egyptian and Middle Eastern Arabic literature was Marrakesh. The English name Morocco is an anglicisation of the Spanish "Marruecos", from which derives the Tuscan "Morrocco", the origin of the Italian "Marocco"; the area of present-day Morocco has been inhabited since Paleolithic times, sometime between 190,000 and 90,000 BC. A recent publication may demonstrate an earlier habitation period, as Homo sapiens fossils discovered in the late 2000s near the Atlantic coast in Jebel Irhoud were dated to 315,000 years before present. During the Upper Paleolithic, the Maghreb was more fertile than it is today, resembling a savanna more than today's arid landscape. Twenty-two thousand years ago, the Aterian was succeeded by the Iberomaurusian culture, which shared similarities with Iberian cultures. Skeletal similarities have been suggested between the Iberomaurusian "Mechta-Afalou" burials and European Cro-Magnon remains.
The Iberomaurusian was succeeded by the Beaker culture in Morocco. Mitochondrial DNA studies have discovered the Saami of Scandinavia; this supports theories that the Franco-Cantabrian refuge area of southwestern Europe was the source of late-glacial expansions of hunter-gatherers who repopulated northern Europe after the last ice age. Northwest Africa and Morocco were drawn into the wider emerging Mediterranean world by the Phoenicians, who established trading colonies and settlements in the early Classical period. Substantial Phoenician settlements were at Chellah and Mogador. Mogador was a Phoenician colony as early as the early 6th century BC. Morocco became a realm of the Northwest African civilisation of ancie
The forint is the currency of Hungary. It was divided into 100 fillér, but fillér coins are no longer in circulation; the introduction of the forint on 1 August 1946 was a crucial step in the post-World War II stabilisation of the Hungarian economy, the currency remained stable until the 1980s. Transition to a market economy in the early 1990s adversely affected the value of the forint. Since 2001, inflation is in single digits, the forint has been declared convertible; as a member of the European Union, the long-term aim of the Hungarian government may be to replace the forint with the euro, but that does not appear to be until some time during the 2020s. The forint's name comes from the city of Florence, where gold coins called fiorino d'oro were minted from 1252. In Hungary, florentinus 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 gulden or florin.
It was subdivided into 100 krajczár. The forint was reintroduced on 1 August 1946, after the pengő was rendered worthless by massive hyperinflation in 1945–46: the highest recorded; the process was managed by the Hungarian Communist Party. The forint's success was exploited for political gains, contributing to the Communists' takeover of complete power in 1948–49; the forint replaced the pengő at the rate of 1 forint = 4×1029 pengő—dropping 29 zeroes from the old currency. In fact, this was an imaginary exchange rate. With the highest value note being 100 million B. pengő, the total amount of pengő in circulation had a value of less than 0.1 fillér. Of more significance was the exchange rate to the adópengő of 1 forint = 200 million adópengő; the forint was subdivided into 100 fillér, although fillér coins have been rendered useless by inflation and have not been in circulation since 1999. The Hungarian abbreviation for forint is Ft, written after the number with a space between; the name fillér, the subdivision of all Hungarian currencies since 1925, comes from the German word Heller.
The abbreviation for the fillér was f written after the number with a space in between. In 1946, a USD was worth 11.7 forints. After its 1946 introduction, the forint remained stable for the following two decades, but started to lose its purchasing power as the state-socialist economic system lost its competitiveness during the 1970s and 1980s. After the democratic change of 1989–90, the forint saw yearly inflation figures of about 35% for three years, but significant market economy reforms helped stabilize it. In 1946, coins were introduced in denominations of 10, 20 fillérs and 1, 2, 5 forints; the silver 5 forint coin was reissued only in the next year. 5 and 50 fillérs coins were issued in 1948. In 1967, a 5 forint coin was reintroduced, followed by a 10 forint in 1971 and 20 forint in 1982. In 1992, a new series of coins was introduced in denominations of 1, 2, 5, 10, 20, 50, 100 and 200 forint. Production of the 2 and 5 fillér coins ceased in 1992, with all fillér coins withdrawn from circulation by 1999.
From 1996, a bicolor 100 forint coin was minted to replace the 1992 version, since the latter was considered too big and ugly, could be mistaken for the 20 forint coin. Silver 200 forint coins were withdrawn in 1998. For cash purchases, the total price is now rounded to the nearest 5 forint. A new 200 forint coin made of base metal alloy was introduced in place of the 200 forint bank note on 15 June 2009. In 1946, 10- and 100-forint notes were introduced by the Magyar Nemzeti Bank. A new series of higher quality banknotes were introduced in 1947 and 1948. 50-forint notes were added in 1953, 500-forint notes were introduced in 1970, followed by 1,000 forints in 1983, 5,000 forints in 1991. A redesigned new series of banknotes in denominations of 200, 500, 1,000, 2,000, 5,000, 10,000 and 20,000 forints was introduced between 1997 and 2001; each banknote depicts a famous Hungarian leader or politician on the obverse and a place or event related to him on the reverse. All of the banknotes are watermarked, contain an embedded vertical security strip and are suitable for visually impaired people.
The 1,000 forints and higher denominations are protected by an interwoven holographic security strip. The notes share the common size of 154 mm × 70 mm; the banknotes are printed by the Hungarian Banknote Printing Corp. in Budapest on paper manufactured by the Diósgyőr Papermill in Miskolc. Commemorative banknotes have been issued recently: 1,000- and 2,000-forint notes to commemorate the millennium and a 500-forint note to commemorate the 50th anniversary of the 1956 revolution. Forgery of forint banknotes is not significant. However, forged 20,000-forint notes printed on the paper of 2,000-forint notes after dissolving the original ink might come up and are not easy to recognize. Another denomination preferred by counterfeiters was the 1,000-forint note until improved security features were added in 2006. Banknotes that were in c