The pound was the unit of account for currency of the Canadas until 1858. It was subdivided into each of 12 pence. In Lower Canada, the sou was used, worth 1⁄2 penny. Although the pounds and pence accounting system had its origins in the British pound sterling, the Canadian pound was never formally linked to the British currency. In North America, the scarcity of British coins led to the widespread use of Spanish dollars; these Spanish dollars were accommodated into a pounds and pence accounts system, by setting a valuation for these coins in terms of a pound unit. At one stage, two such units were in widespread use in the British North American colonies; the Halifax rating dominated, it set the Spanish dollar equal to 5 shillings. As this was 6 pence more than its value in silver, the Halifax pound was lower in value than the pound sterling, the original basis for the pounds and pence accounting system; the York rating of one Spanish dollar being equal to eight shillings was used in Upper Canada until it was outlawed in 1796, but unofficially well into the 19th century.
In 1825, an Imperial Order-in-Council was made for the purposes of causing sterling coinage to circulate in the British colonies. The idea was that this order-in-council would make the sterling coins legal tender at the exchange rate of 4s 4d per Spanish dollar; this rate was in fact unrealistic and it had the adverse effect of driving out what little sterling-specie coinage was circulating. Remedial legislation was introduced in 1838 but it was not applied to the British North American colonies due to recent uprisings in Upper and Lower Canada. In 1841, the Province of Canada adopted a new system based on the Halifax rating; the new Canadian pound was equal to 4 U. S. dollars, making one pound sterling equal to £1 4s 4d Canadian. Thus, the new Canadian pound was worth 16s 5.3d sterling. The earliest Canadian postage stamps were denominated in this Halifax unit; the 1850s was a decade of wrangling over whether to adopt a sterling monetary system or a decimal monetary system based on the US dollar.
The local population, for reasons of practicality in relation to the increasing trade with the neighbouring United States, had an overwhelming desire to assimilate the Canadian currency with the American unit, but the imperial authorities in London still preferred the idea of sterling to be the sole currency throughout the British Empire. In 1851, the Canadian parliament passed an act for the purposes of introducing a sterling unit in conjunction with decimal fractional coinage; the idea was that the decimal coins would correspond to exact amounts in relation to the US dollar fractional coinage. The authorities in London refused to give consent to the act on technical grounds; this was the last time that the imperial authorities in London questioned Canada's internal jurisdiction. As a compromise, in 1853 an act of the Canadian parliament introduced the gold standard into Canada, based on both the British gold sovereign and the American gold eagle coins; this gold standard was introduced with the gold sovereign being legal tender at £1 = US$4.86 2⁄3.
No coinage was provided for under the 1853 act. Sterling coinage was made legal tender and all other silver coins were demonetized. Dollar transactions were legalized; the British government in principle allowed for a decimal coinage but held out the hope that a sterling unit would be chosen under the name of royal. However, in 1857 the decision was made to introduce a decimal coinage into Canada in conjunction with the US dollar unit. Hence, when the new decimal coins were introduced in 1858, Canada's currency became aligned with the US currency, although the British gold sovereign continued to remain legal tender at the rate of £1 = 4.86 2⁄3 right up until the 1890s. In 1859, Canadian postage stamps were issued with decimal denominations for the first time. In the year 1861, New Brunswick and Nova Scotia followed Canada in adopting a decimal system based on the US dollar. In the following year, Canadian postage stamps were issued with the denominations shown in dollars and cents. In 1865, Newfoundland introduced the gold standard in conjunction with decimal coinage, but unlike in the cases of the Province of Canada, New Brunswick, Nova Scotia, it decided to adopt a unit based on the Spanish dollar rather than on the US dollar, there was a slight difference between these two units.
The US dollar was created in 1792 on the basis of the average weight of a selection of worn Spanish dollars. As such, the Spanish dollar was at a slight discount to the US dollar, the Newfoundland dollar, while it existed, was at a slight discount to the Canadian dollar. Newfoundland was the only part of the British Empire to introduce its own gold standard coin. A Newfoundland gold two dollar coin was minted intermittently until Newfoundland adopted the Canadian monetary system in 1894, following the Newfoundland banking crash. In 1867, New Brunswick, Nova Scotia united in a federation called Canada and the three currencies were united. In 1871, Prince Edward Island went decimal within the US dollar unit and introduced coins for 1 cent. However, the currency of Prince Edward Island was absorbed into the Canadian system shortly afterwards when Prince Edward island joined Canada. Both Upper Canada and Lower Canada issued copper tokens. Between 1835 and 1852, the Bank of Montreal, the Banque du Peuple, the City Bank and the Quebec Bank issued 1- and 2-sou tokens for use in Lower Canada.
The Bank of Upper Canada issued 1⁄2- and 1-penny tokens between 1850 and 1857. On notes issued by the charter
The quattrino is an ancient Italian currency denomination used in Central Italy in Tuscany and Rome. Its name derives from the Latin quater denari, its value was one third of a soldo. It disappeared after the unification of Italy in 1861, when the Italian lira was introduced as an equivalent of the french franc. Lira Soldo Denier
The Ghanaian pound was the currency of Ghana between 1958 and 1965. It was subdivided into each of 12 pence; until 1958, Ghana used the British West African pound. In 1965, Ghana introduced the first cedi at a rate of 1 pound = 2.4 cedis. 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 1 and 5 pounds, they were produced until 1962, except for the 10 shillings, produced until 1963. Economy of Ghana
The pound is the currency of Guernsey. Since 1921, Guernsey has been in currency union with the United Kingdom and the Guernsey pound is not a separate currency but is a local issue of banknotes and coins denominated in pound sterling, in a similar way to the banknotes issued in Scotland and Northern Ireland, it can be exchanged at par with notes. For this reason, ISO 4217 does not include a separate currency code for the Guernsey pound, but where a distinct code is desired GGP is used; until the early 19th century, Guernsey used predominantly French currency. Coins of the French livre were legal tender until 1834, with French francs used until 1921. In 1830, Guernsey began production of copper coins denominated in doubles; the double was worth 1⁄80 of a French franc. The name "double" derived from the French "double deniers", although the value of the coin was equal to the liard still circulating. Coins were issued in denominations of 2, 4 and 8 doubles; the 8 double coin was a "Guernsey penny", with twelve to the "Guernsey shilling".
However, this shilling was not equal to the British shilling. Banknotes were produced by the States of Guernsey from 1827, denominated in pounds. In 1848, an ordinance was passed that the pound sterling should be legal tender at a value of £1 1s 3d; this was rescinded two years and French currency, supplemented by local issues, continued to circulate. In 1870, British coins were made legal tender, with the British shilling circulating at 12 1⁄2 Guernsey pence. Bank of England notes became legal tender in 1873. In 1914, new banknotes appeared, some of which carried denominations in Guernsey shillings and francs. After the First World War, the value of the franc began to fall relative to sterling; this caused Guernsey to adopt a pound equal to the pound sterling in 1921. For amounts below 1 shilling, the conversion rate of 1 Guernsey penny = 1 British penny applied, allowing the Guernsey coins to continue to circulate. For amounts above 1 shilling, an exchange rate of 21 Guernsey shillings to the pound sterling was used, applying an approximation to the pre-war exchange rate of 25.2 francs = 1 pound sterling, rather than the exact rate of 25.22.
This conversion increased the value of the double from 1⁄2016 to 1⁄1920 of a pound. The World War I issues of banknotes were overstamped with the word "British" to indicate this change. New banknotes and British silver coinage circulated alongside the double coins, with 3-pence coins minted specially for Guernsey from 1956. In 1971, along with the rest of the British Isles, Guernsey decimalised, with the pound subdivided into 100 pence, began issuing a full range of coin denominations from 1⁄2p to 50p; the Guernsey pound, other notes denominated in pound sterling may be used in Guernsey. The Guernsey pound is legal tender only in the Bailiwick of Guernsey although it circulates in Jersey but cannot be used in the UK, it can be exchanged in other places at banks and bureaux de change. Between 1830 and 1956, Guernsey's four coin denominations, 1, 2, 4 and 8 doubles, all carried similar designs, with the Island's arms and name on the obverse and the denomination and date on the reverse. In addition, the 8 double coins featured a wreath on both sides.
In 1956, new designs were introduced for the 8 doubles. These featured the Island's seal and name on the obverse with the English name, the date and the Guernsey lily on the reverse. Threepence coins were issued from 1956, with the same obverse and a reverse featuring the Guernsey cow; as in the UK, 5- and 10-new-pence coins were introduced in 1968, followed by 50-new-pence coins in 1969, before decimalisation took place in 1971 and the 1⁄2-, 1- and 2-new-pence coins were introduced. These coins were the same composition as the corresponding British coins; the word "new" was dropped in 1977. The £1 coin was introduced in 1981, two years before its introduction in the UK, although the 20-pence and £2 coins were introduced at the same time as in the UK: 1982 and 1998, respectively; the thickness of the 1981 coin was thinner than the modern version and the diameter measured less. The 1-pound coin ceased to be legal tender on 15 October 2017 to coincide with the withdrawal of the circular £1 coin in the UK.
The UK's new twelve-sided £1 coin will be the only £1 coin, legal tender on the island. The first decimal issues continued with the same obverse as the last pre-decimal issues until 1985, when Raphael Maklouf's portrait of Queen Elizabeth II was added. Ian Rank-Broadley's portrait of the Queen has appeared since 1998. Designs on the reverses of Guernsey's decimal coins are: In 1827, the States of Guernsey introduced one-pound notes, with the Guernsey Banking Company and the Guernsey Commercial Banking Company issuing one-pound notes from 1861 and 1886, respectively; the commercial banks lost their right to issue notes in 1914, although the notes circulated until 1924. In 1914, the States introduced five- and ten-shilling notes denominated as 6 and 12 francs. In 1921, States notes were over-stamped with the word "British" to signify the island's conversion to a pound equal to sterling. From 1924, ten-shilling notes were issued without any reference to the franc; the five-shilling note was discontinued.
The Turkish lira is the currency of Turkey and the self-declared Turkish Republic of Northern Cyprus. The lira, along with the related currencies of Europe and the Middle East, has its roots in the ancient Roman unit of weight known as the libra which referred to the Troy pound of silver; the Roman libra adoption of the currency spread it throughout Europe and the Near East, where it continued to be used into medieval times. The Turkish lira, the French livre, the Italian lira, the British pound are the modern descendants of the ancient currency; the Ottoman lira was introduced as the main unit of currency in 1844, with the former currency, kuruş, remaining as a 1⁄100 subdivision. The Ottoman lira remained in circulation until the end of 1927. Historical banknotes from the second and fourth issues have portraits of İsmet İnönü on the obverse side; this change was done according to the 12 January 1926 issue of the official gazette and canceled by the Democrat Party after World War II. After periods of the lira pegged to the British pound and the French franc, a peg of 2.8 Turkish lira = 1 U.
S. dollar was adopted in 1946 and maintained until 1960, when the currency was devalued to 9 Turkish lira = 1 dollar. From 1970, a series of hard soft pegs to the dollar operated as the value of the Turkish lira began to fall. 1966 – 1 U. S. dollar = 9 Turkish lira 1980 – 1 U. S. dollar = 90 Turkish lira 1988 – 1 U. S. dollar = 1,300 Turkish lira 1995 – 1 U. S. dollar = 45,000 Turkish lira 2001 – 1 U. S. dollar = 1,650,000 Turkish liraThe Guinness Book of Records ranked the Turkish lira as the world's least valuable currency in 1995 and 1996, again from 1999 to 2004. The Turkish lira had slid in value so far that one original gold lira coin could be sold for 154,400,000 Turkish lira before the 2005 revaluation. In December 2003, the Grand National Assembly of Turkey passed a law that allowed for redenomination by the removal of six zeros from the Turkish lira, the creation of a new currency, it was introduced on 1 January 2005, replacing the previous Turkish lira at a rate of 1 second Turkish lira = 1,000,000 first Turkish lira.
With the revaluation of the Turkish lira, the Romanian leu became the world's least valued currency unit. At the same time, the Government introduced two new banknotes with the denominations of 50 and 100. In the transition period between January 2005 and December 2008, the second Turkish lira was called Yeni Türk lirası, it was abbreviated "YTL" and subdivided into 100 new kuruş. Starting in January 2009, the "new" marking was removed from the second Turkish lira, its official name becoming just "Turkish lira" again, abbreviated "TL". All obverse sides of current banknotes have portraits of Mustafa Kemal Atatürk; until 2016, the same held for the reverse sides of all current coins, but in 2016 one-lira coins were issued to commemorate the "martyrs and veterans" of the 2016 Turkish coup d'état attempt, the reverse sides of some of which depict hands holding up a Turkish flag while others show in stylized form a collection of five-pointed stars topped by a Turkish flag. From 1 January 2009, the phrase "new" was removed from the second Turkish lira, its official name in Turkey becoming just "Turkish lira" again.
The center and ring alloys of the 50 kuruş and 1 Turkish lira coins were reversed. A new series of banknotes, the "E-9 Emission Group" entered circulation on 1 January 2009, with the E-8 group ceasing to be valid after 31 December 2009; the E-9 banknotes refer to the currency as "Turkish lira" rather than "new Turkish lira" and include a new 200-Turkish-lira denomination. The new banknotes have different sizes to prevent forgery; the main specificity of this new series is that each denomination depicts a famous Turkish personality, rather than geographical sites and architectural features of Turkey. The dominant color of the 5-Turkish-lira banknote has been determined as "purple" on the second series of the current banknotes. In 2018, the lira's exchange rate accelerated deterioration, reaching a level of 4.5 USD/TRY by mid-May and of 4.9 a week later. Among economists, the accelerating loss of value was attributed to Recep Tayyip Erdoğan preventing the Central Bank of the Republic of Turkey from making the necessary interest rate adjustments.
Erdoğan, who claimed interest rates beyond his control to be "the mother and father of all evil", said that "the central bank can't take this independence and set aside the signals given by the president." Despite Erdogan's apparent opposition, Turkey's Central Bank raised interest rates sharply. In the campaign for the 2018 general election in Turkey, a widespread conspiracy theory claimed that the Turkish lira's decline were the work of a shadowy group, made up of Americans, Dutch and "some Jewish families" who would want to deprive incumbent President Erdogan of support in the elections. According to a poll from April 2018, 42 percent of Turks, 59 percent of governing AK Party voters, saw the decline in the lira as a plot by foreign powers. According to Turkish foreign minister Mevlüt Çavuşoğlu and analysis, Trumps wish to let the Turkish-USA current tensions to long up to the November 2018 US elections so to appeal to his christian base and gain some points for his party; the current currency
The franc was the currency of Lucca, issued between 1805 and 1808. It was equivalent to the French franc, alongside which it circulated, was subdivided into 100 centesimi. In 1808, the French franc replaced local coins at par. See Luccan lira In 1805, silver 1 and 5 franc coins were introduced, followed by copper 3 and 5 centesimi in 1806
South Sudanese pound
The South Sudanese pound is the official currency of the Republic of South Sudan. It is subdivided into 100 piasters, it was approved by the Southern Sudan Legislative Assembly before secession on 9 July 2011 from Sudan. It was introduced on 18 July 2011, replaced the Sudanese pound at par; the banknotes feature the image of John Garang de Mabior, the deceased leader of South Sudan's independence movement. Six different denominations in the form of banknotes have been confirmed, five denominations will be issued in the form of coins. Three new banknotes for 5, 10, 25 piasters were issued 19 October 2011; the first circulation coins of the South Sudanese pound denominated in 10, 20, 50 piasters were issued 9 July 2015, on occasion of the fourth anniversary of independence from Sudan. In 2016, the Bank of South Sudan issued a 20 South Sudanese pound banknote to replace the 25 South Sudanese pound banknote. In 2018, the Bank of South Sudan introduced a 500 South Sudanese pounds banknote to ease daily cash transactions following years of inflation.
As part of a currency redesign to reduce confusion, a 1 Pound coin was released to replace the 1 Pound banknote, a coin for 2 Pounds has been released at the same time as the 1 Pound coin. The 10, 20 and 100 pound notes were all redesigned. In November 2016 the Governor of the Bank of South Sudan issued a statement dismissing as false reports claiming that the bank was printing new notes in denominations of 200, 500 and 1,000 pounds. Coins denominated 10, 20, 50 Piasters were put into circulation on 9 July 2015; as of 2016, South Sudan's coins are being struck at the South African Mint. Bimetallic coins denominated 1 Pound and 2 Pounds has been put into circulation during 2016; the Coat of arms of South Sudan with the country name'REPUBLIC OF SOUTH SUDAN' and the date will appear on the obverses. The various coins will include the following: 10 Piasters - Copper-plated Steel - Oil rig. 20 Piasters - Brass-plated Steel - Shoebill stork. 50 Piasters - Nickel-plated Steel - Northern white rhino. 1 Pound - Bronze-plated Steel centre / Nickel-plated Steel ring - Nubian giraffe.
2 Pounds - Nickel-plated Steel centre / Bronze-plated Steel ring - African Shield. Articles about the banknotes of South Sudan. Banknotes of South Sudan