The Egyptian pound is the currency of Egypt. It is divided into ersh, or 1,000 milliemes; the Egyptian pound is abbreviated as LE or L. E. which stands for livre égyptienne. E£ and £E are used on the internet; the name Genēh is derived from the Guinea coin, which had the same value of 100 piastres at the end of the 19th century. In 1834, a khedival decree was issued, adopting an Egyptian currency based on a bimetallic standard on the basis of the Maria Theresa thaler, a popular trade coin in the region; the Egyptian pound, known as the geneih, was introduced, replacing the Egyptian piastre as the chief unit of currency. The piastre continued to circulate as 1⁄100 of a pound, with the piastre subdivided into 40 para. In 1885, the para ceased to be issued, the piastre was divided into tenths; these tenths were renamed milliemes in 1916. The legal exchange rates were fixed by force of law for important foreign currencies which became acceptable in the settlement of internal transactions; this led to Egypt using a de facto gold standard between 1885 and 1914, with E£1 = 7.4375 grams pure gold.
At the outbreak of World War I, the Egyptian pound was pegged to the British pound sterling at EG£0.975 per GB£1. Egypt remained part of the Sterling Area until 1962, when Egypt devalued and switched to a peg to the United States dollar, at a rate of EG£1 = US$2.3. This peg; the pound was itself devalued in 1978 to a peg of 1 pound. The pound floated in 1989. However, until 2001, the float was managed by the Central Bank of Egypt and foreign exchange controls were in effect; the Central Bank of Egypt voted to end the managed-float regime and allowed the pound to float on 3 November 2016. The official rate fell twofold; the Egyptian pound was used in Anglo-Egyptian Sudan between 1899 and 1956, Cyrenaica when it was under British occupation and an independent emirate between 1942 and 1951. The National Bank of Egypt issued banknotes for the first time on 3 April 1899; the Central Bank of Egypt and the National Bank of Egypt were unified into the Central Bank of Egypt in 1961. Several unofficial popular names are used to refer to different values of Egyptian currency.
These include nekla for 2 milliemes, ta'rifa for 5 milliemes, shelen for 5 piastres, bariza for 10 piastres, reyal for 20 piastres. Since the piastre and millieme are no longer legal tender, the smallest denomination minted being the 25-piastre coin, these terms have fallen into disuse and survive as curios. A few have survived to refer to pounds: bariza now refers to a ten-pound note and reyal can be used in reference to a 20-pound note. Different sums of EGP have special nicknames, for example: 1 EGP Bolbol meaning nightingale or Gondi meaning soldier, 1,000 EGP baku "pack". Between 1837 and 1900, copper 1 and 5 para*, silver 10 and 20 para, 1, 5, 10 and 20 piastre, gold 5, 10 and 20 piastre and 1 pound coins were introduced, with gold 50 piastre coins following in 1839. Copper 10 para coins were introduced in 1853. Copper 10 para coins were again introduced in 1862, followed by copper 4 para and 21⁄2 piastre coins in 1863. Gold 25 piastre coins were introduced in 1867. In 1885, a new coinage was introduced consisting of bronze 1⁄4, 1⁄2, 1, 2 and 5 millieme, silver 1, 2, 5, 10 and 20 piastre coins.
The gold coinage ceased, with only small numbers of 5 and 10 piastre coins issued. In 1916 and 1917, a new base metal coinage was introduced consisting of bronze 1⁄2 millieme and holed, cupro-nickel 1, 2, 5 and 10 millieme coins. Silver 2, 5, 10 and 20 piastre coins continued to be issued, a gold 1 pound coin was reintroduced. Between 1922 and 1923, the gold coinage was extended to include 20 and 50 piastre and 1 and 5 pound coins. In 1924, bronze replaced cupro-nickel in the 1 millieme coin and the holes were removed from the other cupro-nickel coins. In 1938, bronze 5 and 10 millieme coins were introduced, followed in 1944 by silver, hexagonal 2 piastre coins. Between 1954 and 1956, a new coinage was introduced, consisting of aluminium-bronze 1, 5 and 10 millieme and silver 5, 10 and 20 piastre coins, with the size of the silver coinage reduced. An aluminium-bronze 2 millieme coin was introduced in 1962. In 1967 the silver coinage was abandoned and cupro-nickel 5 and 10 piastre coins were introduced.
Aluminium replaced aluminium-bronze in the 1, 5 and 10 millieme coins in 1972, followed by brass in the 5 and 10 millieme coins in 1973. Aluminium-bronze 2 piastre and cupro-nickel 20 piastre coins were introduced in 1980, followed by aluminium-bronze 1 and 5 piastre coins in 1984. In 1992, brass 5 and 10 piastre coins were introduced, followed by holed, cupro-nickel 25 piastre coins in 1993; the size of 5 piastre coins was reduced in 2004, 10 and 25 piastre coins - in 2008. On June 1, 2006, 50 piastre and 1 pound coins dated 2005 were introduced, its equivalent banknotes were phased out and disappeared from circulation in 2010; the coins bear the face of Cleo
The solidus, nomisma, or bezant was a pure gold coin issued in the Late Roman Empire. Under Constantine, who introduced it on a wide scale, it had a weight of about 4.5 grams. It was replaced in Western Europe by Pepin the Short's currency reform, which introduced the silver-based pound/shilling/penny system, under which the shilling functioned as a unit of account equivalent to 12 pence developing into the French sou. In Eastern Europe, the nomisma was debased by the Byzantine emperors until it was abolished by Alexius I in 1092, who replaced it with the hyperpyron, which came to be known as a "bezant"; the Byzantine solidus inspired the slightly less pure Arab dinar. In late Antiquity and the Middle Ages, the solidus functioned as a unit of weight equal to 1/72 of a pound; the solidus was introduced by Diocletian in AD 301 as a replacement of the aureus, composed of solid gold and minted 60 to the Roman pound. His minting was on a small scale and the coin only entered widespread circulation under Constantine I after AD 312, when it permanently replaced the aureus.
Constantine's solidus was struck at a rate of 72 to a Roman pound of pure gold. By this time, the solidus was worth 275,000 debased denarii. With the exception of the early issues of Constantine the Great and the odd usurpers the solidus today is a much more affordable gold Roman coin to collect compared to the older aureus; those of Valens Honorius and Byzantine issues. The solidus was maintained unaltered in weight and purity until the 10th century. During the 6th and 7th centuries "lightweight" solidi of 20, 22 or 23 siliquae were struck along with the standard weight issues for trade purposes or to pay tribute. Many of these lightweight coins have been found in Europe and Georgia; the lightweight solidi were distinguished by different markings on the coin in the exergue for the 20 and 22 siliquae coins and by stars in the field for the 23 siliquae coins. In theory the solidus was struck from pure gold, but because of the limits of refining techniques, in practice the coins were about 23k fine.
In the Greek-speaking world during the Roman period, in the Byzantine economy, the solidus was known as the νόμισμα nomisma. In the 10th century Emperor Nicephorus II Phocas introduced a new lightweight gold coin called the tetarteron nomisma that circulated alongside the solidus, from that time the solidus became known as the ἱστάμενον νόμισμα histamenon nomisma in the Greek speaking world, it was difficult to distinguish the two coins, as they had the same design and purity, there were no marks of value to distinguish the denominations. The only difference was the weight; the tetarteron nomisma was a lighter coin, about 4.05 grams, but the histamenon nomisma maintained the traditional weight of 4.5 grams. To eliminate confusion between the two, from the reign of Basil II the solidus was struck as a thinner coin with a larger diameter, but with the same weight and purity as before. From the middle of the 11th century the larger diameter histamenon nomisma was struck on a concave flan, though the smaller tetarteron nomisma continued to be struck on a smaller flat flan.
Former money changer Michael IV the Paphlagonian assumed the throne of Byzantium in 1034 and began the slow process of debasing both the tetarteron nomisma and the histamenon nomisma. The debasement was gradual at first, but accelerated rapidly: about 21 carats during the reign of Constantine IX, 18 carats under Constantine X, 16 carats under Romanus IV, 14 carats under Michael VII, 8 carats under Nicephorus III and 0 to 8 carats during the first eleven years of the reign of Alexius I. Alexius eliminated the solidus altogether. In its place he introduced; the weight and purity of the hyperpyron nomisma remained stable until the fall of Constantinople to the Crusaders in 1204. After that time the exiled Empire of Nicea continued to strike a debased hyperpyron nomisma. Michael VIII recaptured Constantinople in 1261, the Byzantine Empire continued to strike the debased hyperpyron nomisma until the joint reign of John V and John VI. After that time the hyperpyron nomisma continued as a unit of account, but it was no longer struck in gold.
From the 4th to the 11th centuries, solidi were minted at the Constantinopolitan Mint, but in Thessalonica, Rome, Ravenna, Alexandria, Carthage and other cities. During the 8th and 9th centuries the Syracuse mint produced a large number of solidi that failed to meet the specifications of the coins produced by the imperial mint in Constantinople; the Syracuse solidi were lighter and only 19k fine. Although imperial law forbade merchants from exporting solidi outside imperial territory, many solidi have been found in Russia, Central Europe and Syria. In the 7th century they became a desirable circulating currency in Arabian countries. Since the solidi circulating outside the empire were not used to pay taxes to the emperor, they did not get reminted, the soft pure-gold coins became worn. Through the end of the 7th century, Arabi
A currency, in the most specific sense is money in any form when in use or circulation as a medium of exchange circulating banknotes and coins. A more general definition is that a currency is a system of money in common use for people in a nation. Under this definition, US dollars, pounds sterling, Australian dollars, European euros, Russian rubles and Indian Rupees are examples of currency; these various currencies are recognized as stores of value and are traded between nations in foreign exchange markets, which determine the relative values of the different currencies. Currencies in this sense are defined by governments, each type has limited boundaries of acceptance. Other definitions of the term "currency" are discussed in their respective synonymous articles banknote and money; the latter definition, pertaining to the currency systems of nations, is the topic of this article. Currencies can be classified into two monetary systems: fiat money and commodity money, depending on what guarantees the currency's value.
Some currencies are legal tender in certain political jurisdictions. Others are traded for their economic value. Digital currency has arisen with the popularity of the Internet. Money was a form of receipt, representing grain stored in temple granaries in Sumer in ancient Mesopotamia and in Ancient Egypt. In this first stage of currency, metals were used as symbols to represent value stored in the form of commodities; this formed the basis of trade in the Fertile Crescent for over 1500 years. However, the collapse of the Near Eastern trading system pointed to a flaw: in an era where there was no place, safe to store value, the value of a circulating medium could only be as sound as the forces that defended that store. A trade could only reach as far as the credibility of that military. By the late Bronze Age, however, a series of treaties had established safe passage for merchants around the Eastern Mediterranean, spreading from Minoan Crete and Mycenae in the northwest to Elam and Bahrain in the southeast.
It is not known what was used as a currency for these exchanges, but it is thought that ox-hide shaped ingots of copper, produced in Cyprus, may have functioned as a currency. It is thought that the increase in piracy and raiding associated with the Bronze Age collapse produced by the Peoples of the Sea, brought the trading system of oxhide ingots to an end, it was only the recovery of Phoenician trade in the 10th and 9th centuries BC that led to a return to prosperity, the appearance of real coinage first in Anatolia with Croesus of Lydia and subsequently with the Greeks and Persians. In Africa, many forms of value store have been used, including beads, ivory, various forms of weapons, the manilla currency, ochre and other earth oxides; the manilla rings of West Africa were one of the currencies used from the 15th century onwards to sell slaves. African currency is still notable for its variety, in many places, various forms of barter still apply; these factors led to the metal itself being the store of value: first silver both silver and gold, at one point bronze.
Now we have other non-precious metals as coins. Metals were mined and stamped into coins; this was to assure the individual accepting the coin that he was getting a certain known weight of precious metal. Coins could be counterfeited, but the existence of standard coins created a new unit of account, which helped lead to banking. Archimedes' principle provided the next link: coins could now be tested for their fine weight of metal, thus the value of a coin could be determined if it had been shaved, debased or otherwise tampered with. Most major economies using coinage had several tiers of coins of different values, made of copper and gold. Gold coins were the most valuable and were used for large purchases, payment of the military and backing of state activities. Units of account were defined as the value of a particular type of gold coin. Silver coins were used for midsized transactions, sometimes defined a unit of account, while coins of copper or silver, or some mixture of them, might be used for everyday transactions.
This system had been used in ancient India since the time of the Mahajanapadas. The exact ratios between the values of the three metals varied between different eras and places. However, the rarity of gold made it more valuable than silver, silver was worth more than copper. In premodern China, the need for credit and for a medium of exchange, less physically cumbersome than large numbers of copper coins led to the introduction of paper money, i.e. banknotes. Their introduction was a gradual process which lasted from the late Tang dynasty into the Song dynasty, it began as a means for merchants to exchange heavy coinage for receipts of deposit issued as promissory notes by wholesalers' shops. These notes were valid for temporary use in a small regional territory. In the 10th century, the Song dynasty government began to circulate these notes amongst the traders in its monopolized salt industry; the Song government granted several shops the right to issue banknotes, in the early 12th century the government took over these shops to produce state-issued currency.
Yet the banknotes issued w
Tours is a city in the centre-west of France. It is the administrative centre of the Indre-et-Loire department and the largest city in the Centre-Val de Loire region of France. In 2012, the city of Tours had 134,978 inhabitants, the population of the whole metropolitan area was 483,744. Tours stands between Orléans and the Atlantic coast; the surrounding district, the traditional province of Touraine, is known for its wines, for the alleged perfection of its local spoken French, for the Battle of Tours. The historical center of Tours is a UNESCO World Heritage Site; the city is the end-point of the annual Paris–Tours cycle race. In Gallic times the city was important as a crossing point of the Loire. Becoming part of the Roman Empire during the 1st century AD, the city was named "Caesarodunum"; the name evolved in the 4th century when the original Gallic name, became first "Civitas Turonum" "Tours". It was at this time that the amphitheatre of Tours, one of the five largest amphitheatres of the Empire, was built.
Tours became the metropolis of the Roman province of Lugdunum towards 380–388, dominating the Loire Valley and Brittany. One of the outstanding figures of the history of the city was Saint Martin, second bishop who shared his coat with a naked beggar in Amiens; this incident and the importance of Martin in the medieval Christian West made Tours, its position on the route of pilgrimage to Santiago de Compostela, a major centre during the Middle Ages. In the 6th century Gregory of Tours, author of the Ten Books of History, made his mark on the town by restoring the cathedral destroyed by a fire in 561. Saint Martin's monastery benefited from its inception, at the start of the 6th century from patronage and support from the Frankish king, which increased the influence of the saint, the abbey and the city in Gaul. In the 9th century, Tours was at the heart of the Carolingian Rebirth, in particular because of Alcuin abbot of Marmoutier. In 732 AD, Abdul Rahman Al Ghafiqi and a large army of Muslim horsemen from Al-Andalus advanced 500 kilometres deep into France, were stopped at Tours by Charles Martel and his infantry igniting the Battle of Tours.
The outcome was defeat for the Muslims, preventing France from Islamic conquest. In 845, Tours repulsed the first attack of the Viking chief Hasting. In 850, the Vikings settled at the mouths of the Loire. Still led by Hasting, they went up the Loire again in 852 and sacked Angers and the abbey of Marmoutier. During the Middle Ages, Tours consisted of competing centres; the "City" in the east, successor of the late Roman'castrum', was composed of the archiepiscopal establishment and of the castle of Tours, seat of the authority of the Counts of Tours and of the King of France. In the west, the "new city" structured around the Abbey of Saint Martin was freed from the control of the City during the 10th century and became "Châteauneuf"; this space, organized between Saint Martin and the Loire, became the economic centre of Tours. Between these two centres remained Varennes and fields, little occupied except for the Abbaye Saint-Julien established on the banks of the Loire; the two centres were linked during the 14th century.
Tours became the capital of the county of Tours or Touraine, territory bitterly disputed between the counts of Blois and Anjou – the latter were victorious in the 11th century. It was the capital of France at the time of Louis XI, who had settled in the castle of Montils and Touraine remained until the 16th century a permanent residence of the kings and court; the rebirth gave Tours and Touraine many private mansions and castles, joined together to some extent under the generic name of the Châteaux of the Loire. It is at the time of Louis XI that the silk industry was introduced – despite difficulties, the industry still survives to this day. Charles IX passed through the city at the time of his royal tour of France between 1564 and 1566, accompanied by the Court and various noblemen: his brother the Duke of Anjou, Henri de Navarre, the cardinals of Bourbon and Lorraine. At this time, the Catholics returned to power in Angers: the intendant assumed the right to nominate the aldermen; the Massacre of Saint-Barthelemy was not repeated at Tours.
The Protestants were imprisoned by the aldermen -- a measure. The permanent return of the Court to Paris and Versailles marked the beginning of a slow but permanent decline. Guillaume the Metayer, known as Rochambeau, the well known counter-revolutionary chief of Mayenne, was shot there on Thermidor 8, year VI. However, it was the arrival of the railway in the 19th century which saved the city by making it an important nodal point; the main railway station is known as Tours-Saint-Pierre-des-Corps. At that time, Tours was expanding towards the south into a district known as the Prébendes; the importance of the city as a centre of communications contributed to its revival and, as the 20th century progressed, Tours became a dynamic conurbation, economically oriented towards the service sector. The city was affected by the First World War. A force of 25,000 American soldiers arrived in 1917, setting up textile factories for the manufacture of uniforms, repair shops for military equipment, munitions dumps, an army post office and an Americ
Philip II of France
Philip II, known as Philip Augustus, was King of France from 1180 to 1223, the seventh from the House of Capet. His predecessors had been known as kings of the Franks, but from 1190 onward, Philip became the first French monarch to style himself "King of France"; the son of King Louis VII and his third wife, Adela of Champagne, he was nicknamed Dieudonné because he was a first son and born late in his father's life. Philip was given the epithet "Augustus" by the chronicler Rigord for having extended the crown lands of France so remarkably; the only known description of Philip describes him as "a handsome, strapping fellow, bald but with a cheerful face of ruddy complexion, a temperament much inclined towards good-living and women. He was generous to his friends, stingy towards those who displeased him, well-versed in the art of stratagem, orthodox in belief and stubborn in his resolves, he made judgements with great exactitude. Fortune's favorite, fearful for his life excited and placated, he was tough with powerful men who resisted him, took pleasure in provoking discord among them.
Never, did he cause an adversary to die in prison. He liked to employ humble men, to be the subduer of the proud, the defender of the Church, feeder of the poor". After a twelve-year struggle with the Plantagenet dynasty in the Anglo-French War of 1202–14, Philip broke up the large Angevin Empire presided over by the crown of England and defeated a coalition of his rivals at the Battle of Bouvines in 1214; this victory would have a lasting impact on western European politics: the authority of the French king became unchallenged, while the English King John was forced by his barons to sign Magna Carta and deal with a rebellion against him aided by Philip, the First Barons' War. The military actions surrounding the Albigensian Crusade helped prepare the expansion of France southward. Philip did not participate directly in these actions, but he allowed his vassals and knights to help carry it out. Philip transformed France from a small feudal state into the most prosperous and powerful country in Europe.
He checked the power of the nobles and helped the towns to free themselves from seigniorial authority, granting privileges and liberties to the emergent bourgeoisie. He built a great wall around Paris, re-organized the French government and brought financial stability to his country. Philip was born in Gonesse on 21 August 1165. King Louis VII intended to make his son Philip co-ruler with him as soon as possible, in accordance with the traditions of the House of Capet, but these plans were delayed when Philip, at the age of thirteen, was separated from his companions during a royal hunt and became lost in the Forest of Compiègne, he spent much of the following night attempting to find his way out, but to no avail. Exhausted by cold and fatigue, he was discovered by a peasant carrying a charcoal burner, but his exposure to the elements meant he soon contracted a dangerously high fever, his father went on pilgrimage to the Shrine of Thomas Becket to pray for Philip's recovery and was told that his son had indeed recovered.
However, on his way back to Paris, the king suffered a stroke. In declining health, Louis VII had his 14-year-old son crowned and anointed as king at Reims on 1 November 1179 by Archbishop William of the White Hands, he was married on 28 April 1180 to Isabelle of Hainaut, the daughter of Baldwin V, Count of Hainaut, Margaret I, Countess of Flanders, who brought the County of Artois as her dowry. From the time of his coronation, all real power was transferred to Philip, as his father descended into senility; the great nobles were discontented with Philip's advantageous marriage, while his mother and four uncles, all of whom exercised enormous influence over Louis, were unhappy with his attainment of the throne, which caused a diminution of their power. Louis died on 18 September 1180. While the royal demesne had increased under Philip I and Louis VI, it had diminished under Louis VII. In April 1182 to enrich the French crown, Philip expelled all Jews from the demesne and confiscated their goods.
Philip's eldest son Louis was born on 5 September 1187 and inherited the County of Artois in 1190, when his mother Isabelle died. The main source of funding for Philip's army was from the royal demesne. In times of conflict, he could call up 250 knights, 250 horse sergeants, 100 mounted crossbowmen, 133 crossbowmen on foot, 2,000 foot sergeants, 300 mercenaries. Towards the end of his reign, the king could muster some 3,000 knights, 9,000 sergeants, 6,000 urban militiamen, thousands of foot sergeants. Using his increased revenues, Philip was the first Capetian king to build a French navy actively. By 1215, his fleet could carry a total of 7,000 men. Within two years, his fleet included 10 large ships and many smaller ones. In 1181, Philip began a war with Philip, Count of Flanders, over the Vermandois, which King Philip claimed as his wife's dowry and the Count was unwilling to give up; the Count of Flanders invaded France, ravaging the whole district between the Somme and the Oise before penetrating as far as Dammartin.
Notified of Philip's impending approach with 2,000 knights, he turned around and headed back to Flanders. Philip chased him, the two armies confronted each other near Amiens. By this stage, Philip had managed to counter the ambitions of the count by breaking his alliances with Henry I, Duke of Brabant, Philip of Heinsberg, Archbishop of Cologne. This, together with an uncertain outcome were he to engage the French in battle, forced the Count to conclude a peace. In July 11
The Lebanese pound is the currency of Lebanon. It used to be divided into 100 piastres but high inflation in the Lebanese Civil War has eliminated the subdivisions; the plural form of lira, as used on the currency, is either lirat or the same, whilst there were four forms for qirsh: the dual qirshan, the plural qirush used with numbers 3–10, the accusative singular qirsha used with 11–99, or the genitive singular qirshi used with multiples of 100. In both cases, the number determines. Before the Second World War, the Arabic spelling of the subdivision was غرش. All of Lebanon's coins and banknotes are bilingual in French. Before World War I, the Ottoman lira was used. In 1918, after the fall of the Ottoman Empire, the currency became the Egyptian pound. Upon gaining control of Syria and Lebanon, the French replaced the Egyptian pound with a new currency for Syria and Lebanon, the Syrian pound, linked to the French franc at a value of 1 pound = 20 francs. Lebanon issued its own coins from 1924 and banknotes from 1925.
In 1939, the Lebanese currency was separated from that of Syria, though it was still linked to the French franc and remained interchangeable with Syrian money. In 1941, following France's defeat by Nazi Germany, the currency was linked instead to the British pound sterling at a rate of 8.83 Lebanese pounds = 1 pound sterling. A link to the French franc was restored after the war but was abandoned in 1949. Before the Lebanese Civil War, 1 U. S. dollar was worth 3 pounds. During the civil war the value decreased until 1992, when one dollar was worth over 2500 pounds. Subsequently the value increased again, since December 1997 the rate of the pound has been fixed at 1507.5 pounds per US$. Lebanon's first coins were issued in 1924 in denominations of 2 and 5 girush with the French denominations given in "piastres syriennes". Issues did not include the word "syriennes" and were in denominations of 1⁄2, 1, 2, 2 1⁄2, 5, 10, 25 and 50 girsha. During World War II, rather crude 1⁄2, 1 and 2 1⁄2 girsh coins were issued.
After the war, the Arabic spelling was changed from girsh to qirsh. Coins were issued in the period 1952 to 1986 in denominations of 1, 2 1⁄2, 5, 10, 25 and 50 qirsh and 1 lira. No coins were issued between 1994, when the current series of coins was introduced. Coins in current use are: Lebanon's first banknotes were issued by the Banque du Syrie et Grand-Liban in 1925. Denominations ran from 25 girsha through to 100 pounds. In 1939, the bank's name was changed to the Bank of Lebanon; the first 250-pound notes appeared that year. Between 1942 and 1950, the government issued "small change" paper money in denominations of 5, 10, 25 and 50 girsh or qirsh. After 1945, the Bank of Syria and Lebanon continued to issue paper money for Lebanon but the notes were denominated in "Lebanese pounds" to distinguish them from Syrian notes. Notes for 1, 5, 10, 25, 50 and 100 pounds were issued; the Banque du Liban was established by the Code of Money and Credit on 1 April 1964. On 1 August 1963 decree No. 13.513 of the “Law of References: Banque Du Liban 23 Money and Credit” granted the Bank of Lebanon the sole right to issue notes in denominations of 1, 5, 10, 25, 50, 100, 250 pounds, expressed in Arabic on the front, French on the back.
Higher denominations were issued in the 1980s and 1990s as inflation drastically reduced the currency's value. Banknotes in the current use are: All current notes feature an Arabic side with the value in Arabic script numerals of large size; the other side is in French with the serial number in both Arabic and Latin script and in bar code below the latter one. Economy of Lebanon Banque du Liban Historical and current banknotes of Lebanon
The Syrian pound or Syrian lira is the currency of Syria and is issued by the Central Bank of Syria. The pound is subdivided into 100 qirsh. Before 1947, the word qirsh was spelled with the initial Arabic letter غ, after which the word began with ق; until 1958, banknotes were issued with Arabic on French on the reverse. After 1958, English has been used on the reverses, hence the three different names for this currency. Coins used both Arabic and French until independence only Arabic; the standard abbreviation for the Syrian pound is SYP. On 5 December 2005, the selling rate quoted by the Commercial Bank of Syria was 48.4 SYP to the US dollar. A rate of about 50 pounds to one dollar has been usual in the early 2000s, but the exchange rate is subject to fluctuations. Since the start of the civil war in 2011, the pound's exchange rate has deteriorated falling from 47 SYP for US$1 in March 2011 to 515 SYP for US$1 in July 2017. During the period when Syria was a part of the Ottoman Empire, which lasted about 400 years, the Ottoman lira was its main currency.
Following the fall of the Ottoman Empire and the placing of Syria under a mandate, the Egyptian pound was used in the territories under French and British mandates, including Lebanon and Palestine. Upon taking Lebanon and Syria under its separate mandate, the French government sought to replace the Egyptian currency and granted a commercial bank, the Banque de Syrie, the authority to issue a currency for states under its new mandate; the pound was pegged at a value of 20 French francs. As the political status of Lebanon evolved, the Banque de Syrie, to act as the official bank for Lebanon and Syria, was renamed the Banque de Syrie et du Grand-Liban; the BSL issued the Lebanese-Syrian currency for 15 years, starting in 1924. Two years before the expiration of the 15-year period, the BSL split the Lebanese-Syrian currency into two separate currencies that could still be used interchangeably in either state. In 1939, the bank was renamed the Banque de du Liban. In 1941, the peg to the French franc was replaced by a peg to the British pound of 8.83125 Syrian pounds = 1 British pound, as a consequence of the occupation of Syria by British and Free French forces.
This rate was based on the pre-war conversion rate between the sterling. In 1946, following devaluation of the franc, the pound was pegged once again to the franc at a rate of 1 pound = 54.35 francs. In 1947, the U. S. dollar was adopted as the peg for the Syrian currency, with 2.19148 pounds = 1 dollar, a rate, maintained until 1961. The Lebanese and Syrian currencies split in 1948. From 1961, a series of official exchange rates were in operation, alongside a parallel, black market rate which reflected the true market rate for Syrian pounds in Jordan and Lebanon where there was a healthy trade in the Syrian currency; the market was allowed to flourish because everybody, including government and public sector companies, needed it. The black market rate diverged from the official rate in the 1980s. Most the currency was pegged to the IMF SDF; as a result of the Syrian Civil War, there has been a capital flight to nearby countries including Lebanon, Jordan and Turkey. Syria has been subject to sanctions imposed by the United States, the European Union and other countries.
As a result, the official exchange rate has deteriorated falling from 47 SYP for US$1 in March 2011 to 515 SYP for US$1 in July 2017. In 1921, cupro-nickel 1⁄2 qirsh coins were introduced, followed in 1926 by aluminium bronze 2 and 5 qirsh. In 1929, nickel-brass 1 qirsh and silver 10, 25 and 50 qirsha were introduced. Nickel-brass 1⁄2 qirsh were introduced 1935, followed by zinc 1 qirsh and aluminium-bronze 2½ qirsh in 1940. During the Second World War, brass 1 qirsh and aluminium 2 1⁄2 qirsh; these pieces were crudely undated. A new coinage was introduced between 1947 and 1948 in denominations of 2 1⁄2, 5, 10, 25 and 50 qirsha and 1 pound, with the 2 1⁄2, 5 and 10 qirush struck in cupro-nickel and the others in silver. Aluminium-bronze replaced cupro-nickel in 1960, with nickel replacing silver in 1968. In 1996, following high inflation, new coins were introduced in denominations of 1, 2, 5, 10 and 25 pounds, with the 25 pounds a bimetallic coin. In 2003 5, 10, 25 pound coins were issued, with latent images.
On December 26, 2018, the Central Bank of Syria introduced a 50 Syrian pounds coin for general circulation and to replace the banknote of said denomination. In 1919, the Banque de Syrie introduced notes for 5, 25 and 50 qirsha, 1 and 5 livres; these were followed, by notes for 1 qirsh and 10, 25, 50 and 100 livres. In 1925, the Banque de Syrie et du Grand-Liban began issuing notes and production of denominations below 25 qirsha ceased. Notes below 1 livre were not issued from 1930. In 1939, the issuing body again changed its name, to the Banque de Syrie et du Liban. Between 1942 and 1944, the government introduced notes for 10, 25 and 50 qirsha. In the early 1950s, undated notes were issued by the Institut d'Emission de Syrie in denominations of 1, 5, 10, 25, 50 and 100 livres, followed by notes dated 1955 for 10 and 25 livres; the Banque Centrale de Syrie took over paper money issuance in 1957, issuing the same denominations as the Institut d'Emission. In 1958, the French language was replaced by English.
Notes were issued for 1