1.
Arabic
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Arabic is a Central Semitic language that was first spoken in Iron Age northwestern Arabia and is now the lingua franca of the Arab world. Arabic is also the language of 1.7 billion Muslims. It is one of six languages of the United Nations. The modern written language is derived from the language of the Quran and it is widely taught in schools and universities, and is used to varying degrees in workplaces, government, and the media. The two formal varieties are grouped together as Literary Arabic, which is the language of 26 states. Modern Standard Arabic largely follows the standards of Quranic Arabic. Much of the new vocabulary is used to denote concepts that have arisen in the post-Quranic era, Arabic has influenced many languages around the globe throughout its history. During the Middle Ages, Literary Arabic was a vehicle of culture in Europe, especially in science, mathematics. As a result, many European languages have borrowed many words from it. Many words of Arabic origin are found in ancient languages like Latin. Balkan languages, including Greek, have acquired a significant number of Arabic words through contact with Ottoman Turkish. Arabic has also borrowed words from languages including Greek and Persian in medieval times. Arabic is a Central Semitic language, closely related to the Northwest Semitic languages, the Ancient South Arabian languages, the Semitic languages changed a great deal between Proto-Semitic and the establishment of the Central Semitic languages, particularly in grammar. Innovations of the Central Semitic languages—all maintained in Arabic—include, The conversion of the suffix-conjugated stative formation into a past tense, the conversion of the prefix-conjugated preterite-tense formation into a present tense. The elimination of other prefix-conjugated mood/aspect forms in favor of new moods formed by endings attached to the prefix-conjugation forms, the development of an internal passive. These features are evidence of descent from a hypothetical ancestor. In the southwest, various Central Semitic languages both belonging to and outside of the Ancient South Arabian family were spoken and it is also believed that the ancestors of the Modern South Arabian languages were also spoken in southern Arabia at this time. To the north, in the oases of northern Hijaz, Dadanitic and Taymanitic held some prestige as inscriptional languages, in Najd and parts of western Arabia, a language known to scholars as Thamudic C is attested
2.
ISO 4217
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The ISO4217 code list is used in banking and business globally. ISO4217 codes are used on tickets and international train tickets to remove any ambiguity about the price. The first two letters of the code are the two letters of the ISO 3166-1 alpha-2 country codes and the third is usually the initial of the currency itself, so Japans currency code is JPY—JP for Japan and Y for yen. This eliminates the problem caused by the dollar, franc, peso and pound being used in dozens of different countries. Also, if a currency is revalued, the currency codes last letter is changed to distinguish it from the old currency. Other changes can be seen, however, the Russian ruble, for example, changed from RUR to RUB and these currency units are denominated as one troy ounce of the specified metal as opposed to USD1 or EUR1. The code XTS is reserved for use in testing, the code XXX is used to denote a transaction involving no currency. There are also codes specifying certain monetary instruments used in international finance, the codes for most supranational currencies, such as the East Caribbean dollar, the CFP franc, the CFA franc BEAC and the CFA franc BCEAO. The predecessor to the euro, the European Currency Unit, had the code XEU, the use of an initial letter X for these purposes is facilitated by the ISO3166 rule that no official country code beginning with X will ever be assigned. Because of this rule ISO4217 can use X codes without risk of clashing with a country code. ISO3166 country codes beginning with X are used for private custom use, consequently, ISO4217 can use X codes for non-country-specific currencies without risk of clashing with future country codes. The inclusion of EU in the ISO 3166-1 reserved codes list, the ISO4217 standard includes a crude mechanism for expressing the relationship between a major currency unit and its corresponding minor currency unit. This mechanism is called the exponent and assumes a base of 10. For example, USD is equal to 100 of its currency unit the cent. So the USD has exponent 2, the code JPY is given the exponent 0, because its minor unit, the sen, although nominally valued at 1/100 of a yen, is of such negligible value that it is no longer used. Usually, as with the USD, the currency unit has a value that is 1/100 of the major unit, but in some cases 1/1000 is used. Mauritania does not use a decimal division of units, setting 1 ouguiya equal to 5 khoums, some currencies do not have any minor currency unit at all and these are given an exponent of 0, as with currencies whose minor units are unused due to negligible value. There is also a code number assigned to each currency
3.
Currency symbol
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A currency symbol is a graphic symbol used as a shorthand for a currencys name, especially in reference to amounts of money. The European Commission considers the global recognition of the euro sign € part of its success, in 2009, India launched a public competition to replace the ₨ ligature it shared with neighbouring countries. It finalised its new symbol, ₹ on 15 July 2010. It is a blend of the Latin letter R with the Devanagari letter र, when writing currency amounts the location of the symbol varies by currency. Many currencies in the English-speaking world and Latin America, place it before the amount, the Cape Verdean escudo places its symbol in the decimal separator position. The usage of many European countries, such as France, Germany, the decimal separator also follows local countries standards. For instance, the United Kingdom often uses an interpunct as the point on price stickers. Commas or decimal points are common separators used in other countries, see decimal separator for information on international standards. Older currency symbols have evolved slowly, often from previous currencies, the dollar and peso symbols originated from the mark employed to denote the Spanish real de a ocho, whereas the pound and lira symbols evolved from an L standing for libra, a Roman pound of silver. Newly invented currencies and currencies adopting new symbols have symbolism closer to their adopter, the added center bar in the real sign is meant to symbolize stability. The new Indian rupee symbol, ₹, is a combination of Latin. There are also considerations, such as the perception of the business community. For a new symbol to be used, software to render it needs to be promulgated, the EU was criticized for not considering how the euro symbol would need to be customized to work in different fonts. The original design was exceptionally wide. These two factors have led to most typefaces employing customized, font-specific versions, usually with reduced width, List of currencies List of circulating currencies Currency Symbols
4.
Oman
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Oman, officially the Sultanate of Oman, is an Arab country on the southeastern coast of the Arabian Peninsula. The coast is formed by the Arabian Sea on the southeast, the Madha and Musandam exclaves are surrounded by the UAE on their land borders, with the Strait of Hormuz and Gulf of Oman forming Musandams coastal boundaries. From the late 17th century, the Omani Sultanate was an empire, vying with Portugal and Britain for influence in the Persian Gulf. At its peak in the 19th century, Omani influence or control extended across the Strait of Hormuz to modern-day Iran and Pakistan, as its power declined in the 20th century, the sultanate came under the influence of the United Kingdom. Historically, Muscat was the trading port of the Persian Gulf region. Muscat was also among the most important trading ports of the Indian Ocean, the Sultan Qaboos bin Said al Said has been the hereditary leader of the country since 1970. Sultan Qaboos is the current ruler in the Middle East. Oman has modest oil reserves, ranking 25th globally, nevertheless, in 2010 the UNDP ranked Oman as the most improved nation in the world in terms of development during the preceding 40 years. A significant portion of its economy is tourism and trade of fish, dates and this sets it apart from its neighbors solely oil-dependent economies. Oman is categorized as an economy and ranks as the 74th most peaceful country in the world according to the Global Peace Index. Two optically stimulated luminescence age estimates place the Arabian Nubian Complex at 106,000 years old and this supports the proposition that early human populations moved from Africa into Arabia during the Late Pleistocene. Dereaze, located in the city of Ibri, is the oldest known settlement in the area. Archaeological remains have been discovered here from the Stone Age and the Bronze Age, findings have included stone implements, animal bones, shells and fire hearths, with the latter dating back to 7615 BC as the oldest signs of human settlement in the area. Other discoveries include hand-molded pottery bearing distinguishing pre-Bronze Age marks, heavy flint implements, pointed tools, sumerian tablets refer to a country called Magan or Makan, a name believed to refer to Omans ancient copper mines. Mazoon, another used for the region, is derived from the word muzn. The present-day name of the country, Oman, is believed to originate from the Arab tribes who migrated to its territory from the Uman region of Yemen. Many such tribes settled in Oman, making a living by fishing, herding or stock breeding, from the 6th century BC to the arrival of Islam in the 7th century AD, Oman was controlled and/or influenced by three Persian dynasties, the Achaemenids, Parthians and Sassanids. A few scholars believe that in the 6th century BC, the Achaemenids exerted a strong degree of control over the Omani peninsula, Central Oman has its own indigenous so-called Late Iron Age cultural assemblage, the Samad al-Shan
5.
Central bank
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A central bank, reserve bank, or monetary authority is an institution that manages a states currency, money supply, and interest rates. Central banks also usually oversee the commercial banking system of their respective countries, Central banks in most developed nations are institutionally designed to be independent from political interference. Still, limited control by the executive and legislative bodies usually exists, prior to the 17th century most money was commodity money, typically gold or silver. However, promises to pay were widely circulated and accepted as value at least five hundred years earlier in both Europe and Asia. The Song dynasty was the first to issue generally circulating paper currency, in 1455, in an effort to control inflation, the succeeding Ming Dynasty ended the use of paper money and closed much of Chinese trade. The Bank of Amsterdam, established in the Dutch Republic in 1609, is considered to be the forerunner to modern central banks. The Wisselbanks innovations helped lay the foundations for the birth and development of the banking system that now plays a vital role in the worlds economy. Along with a number of local banks, it performed many functions of a central banking system. Lucien Gillard calls it the European guilder, and Adam Smith devotes many pages to explaining how the bank guilder works, the model of the Wisselbank as a state bank was adapted throughout Europe, including the Bank of Sweden and the Bank of England. Established by Dutch-Latvian Johan Palmstruch in 1668, Sveriges Riksbank is often considered by many as the worlds oldest central bank, the lenders would give the government cash and also issue notes against the government bonds, which could be lent again. A Royal Charter was granted on 27 July through the passage of the Tonnage Act 1694, the bank was given exclusive possession of the governments balances, and was the only limited-liability corporation allowed to issue banknotes. The £1. 2M was raised in 12 days, half of this was used to rebuild the Navy and these modern central banking functions evolved slowly through the 18th and 19th centuries. The currency crisis of 1797, caused by panicked depositors withdrawing from the Bank led to the government suspending convertibility of notes into specie payment. The bank was accused by the bullionists of causing the exchange rate to fall from over issuing banknotes. Nevertheless, it was clear that the Bank was being treated as an organ of the state, henry Thornton, a merchant banker and monetary theorist has been described as the father of the modern central bank. An opponent of the real bills doctrine, he was a defender of the bullionist position, thorntons process of monetary expansion anticipated the theories of Knut Wicksell regarding the cumulative process which restates the Quantity Theory in a theoretically coherent form. Until the mid-nineteenth century, commercial banks were able to issue their own banknotes, many consider the origins of the central bank to lie with the passage of the Bank Charter Act of 1844. Under this law, authorisation to issue new banknotes was restricted to the Bank of England, at the same time, the Bank of England was restricted to issue new banknotes only if they were 100% backed by gold or up to £14 million in government debt
6.
Fixed exchange-rate system
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There are benefits and risks to using a fixed exchange rate. In doing so, the rate between the currency and its peg does not change based on market conditions, the way floating currencies do. A fixed exchange-rate system can also be used as a means to control the behavior of a currency, however, in doing so, the pegged currency is then controlled by its reference value. In other words, a currency is dependent on its reference value to dictate how its current worth is defined at any given time. The central bank provides the assets and/or the foreign currency or currencies which are needed in order to any payments imbalances. In the 21st century, the associated with large economies typically do not fix or peg exchange rates to other currencies. The last large economy to use a fixed exchange system was the Peoples Republic of China which, in July 2005. The European Exchange Rate Mechanism is also used on a basis to establish a final conversion rate against the Euro from the local currencies of countries joining the Eurozone. The gold standard or gold standard of fixed exchange rates prevailed from about 1870 to 1914. The period between the two wars was transitory, with the Bretton Woods system emerging as the new fixed exchange rate regime in the aftermath of World War II. It was formed with an intent to rebuild war-ravaged nations after World War II through a series of currency stabilization programs, the early 1970s saw the breakdown of the system and its replacement by a mixture of fluctuating and fixed exchange rates. Timeline of the exchange rate system, The earliest establishment of a gold standard was in the United Kingdom in 1821 followed by Australia in 1852. Under this system, the value of all currencies was denominated in terms of gold with central banks ready to buy. Each central bank maintained gold reserves as their official reserve asset, for example, during the “classical” gold standard period, the U. S. dollar was defined as 0.048 troy oz. of pure gold. Following the Second World War, the Bretton Woods system replaced gold with the U. S. dollar as the reserve asset. The regime intended to combine binding legal obligations with multilateral decision-making through the International Monetary Fund, the rules of this system were set forth in the articles of agreement of the IMF and the International Bank for Reconstruction and Development. S. Dollar and to exchange rates within 1% of parity by intervening in their foreign exchange markets. In December 1971, the Smithsonian Agreement paved the way for the increase in the value of the price of gold from US$35.50 to US$38 an ounce
7.
United States dollar
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The United States dollar is the official currency of the United States and its insular territories per the United States Constitution. It is divided into 100 smaller cent units, the circulating paper money consists of Federal Reserve Notes that are denominated in United States dollars. The U. S. dollar was originally commodity money of silver as enacted by the Coinage Act of 1792 which determined the dollar to be 371 4/16 grain pure or 416 grain standard silver, the currency most used in international transactions, it is the worlds primary reserve currency. Several countries use it as their currency, and in many others it is the de facto currency. Besides the United States, it is used as the sole currency in two British Overseas Territories in the Caribbean, the British Virgin Islands and Turks and Caicos Islands. A few countries use the Federal Reserve Notes for paper money, while the country mints its own coins, or also accepts U. S. coins that can be used as payment in U. S. dollars. After Nixon shock of 1971, USD became fiat currency, Article I, Section 8 of the U. S. Constitution provides that the Congress has the power To coin money, laws implementing this power are currently codified at 31 U. S. C. Section 5112 prescribes the forms in which the United States dollars should be issued and these 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 minting and issuance of other coins and these other coins are more fully described in Coins of the United States dollar. The Constitution provides that a regular Statement and Account of the Receipts and that provision of the Constitution is made specific by Section 331 of Title 31 of the United States Code. The sums of money reported in the Statements are currently being expressed in U. S. dollars, the U. S. dollar may therefore be described as the unit of account of the United States. The word dollar is one of the words in the first paragraph of Section 9 of Article I of the Constitution, there, dollars is a reference to the Spanish milled dollar, a coin that had a monetary value of 8 Spanish units of currency, or reales. In 1792 the U. S. Congress passed a Coinage Act, Section 20 of the act provided, That the money of account of the United States shall be expressed in dollars, or units. And that all accounts in the offices and all proceedings in the courts of the United States shall be kept and had in conformity to this regulation. In other words, this act designated the United States dollar as the unit of currency of the United States, unlike the Spanish milled dollar the U. S. dollar is based upon a decimal system of values. Both one-dollar coins and notes are produced today, although the form is significantly more common
8.
Currency
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A currency in the most specific use of the word refers to money in any form when in actual use or circulation as a medium of exchange, especially circulating banknotes and coins. A more general definition is that a currency is a system of money in common use, under this definition, US dollars, British pounds, Australian dollars, and European euros are examples of currency. These various currencies are recognized stores of value and are traded between nations in exchange markets, which determine the relative values of the different currencies. Currencies in this sense are defined by governments, and each type has limited boundaries of acceptance, other definitions of the term currency are discussed in their respective synonymous articles banknote, coin, and money. The latter definition, pertaining to the systems of nations, is the topic of this article. Currencies can be classified into two systems, fiat money and commodity money, depending on what guarantees the value. Some currencies are legal tender in certain jurisdictions, which means they cannot be refused as payment for debt. Others are simply traded for their economic value, digital currency has arisen with the popularity of computers and the Internet. Currency evolved from two basic innovations, both of which had occurred by 2000 BC, originally money was a form of receipt, representing grain stored in temple granaries in Sumer in ancient Mesopotamia, then Ancient Egypt. In this first stage of currency, metals were used as symbols to represent value stored in the form of commodities and this formed the basis of trade in the Fertile Crescent for over 1500 years. Trade could only reach as far as the credibility of that military and 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, possibly produced by the Peoples of the Sea, brought the trading system of oxhide ingots to an end. In Africa, many forms of value store have been used, including beads, ingots, ivory, various forms of weapons, livestock, the manilla currency, 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, and in many various forms of barter still apply. These factors led to the metal itself being the store of value, first silver, now we have copper coins and other non-precious metals as coins. Metals were mined, weighed, and stamped into coins and this was to assure the individual taking the coin that he was getting a certain known weight of precious metal. Coins could be counterfeited, but they created a new unit of account. Most major economies using coinage had several tiers of coins, using a mix of copper, silver, gold coins were used for large purchases, payment of the military and backing of state activities, they were more often used as measures of account than physical coins
9.
Indian rupee
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The Indian rupee, is the official currency of the Republic of India. The rupee is subdivided into 100 paise, though as of 2011,25 paise is no more a legal tender, the issuance of the currency is controlled by the Reserve Bank of India. The Reserve Bank manages currency in India and derives its role in management on the basis of the Reserve Bank of India Act,1934. The rupee is named after the coin, rupiya, first issued by Sultan Sher Shah Suri in the 16th century. In 2010, a new symbol ₹, was officially adopted and it was derived from the combination of the Devanagari consonant र and the Latin capital letter R without its vertical bar. The parallel lines at the top are said to make an allusion to the tricolour Indian flag, the first series of coins with the new rupee symbol started in circulation on 8 July 2011. On 8 November 2016 the Government of India announced the demonetisation of ₹500 and ₹1000 banknotes with effect from midnight of the same day, a newly redesigned series of ₹500 banknote, in addition to a new denomination of ₹2000 banknote is in circulation since 10 November 2016. The new redesigned series is expected to be enlarged with banknotes in the denominations of ₹1000, ₹100. The word rupee was derived from the Sanskrit word रूप्यकम् or rupaya, the modern Indian rupee has a direct lineage from the rupiya, the silver coin, issued by Sher Shah Suri, continued by the Mughal rulers. Rūpa means to form or shape, example, Rūpyarūpa, rūpya — wrought silver, however, in the region of Bengal, the term taka has always been used to refer to currency. In the 14th century, Ibn Battuta noticed that people in the Bengal Sultanate referred to gold, today, the currency of Bangladesh is officially known as taka. The word taka in Bengali is also used generically to mean any money, currency. Thus, colloquially, a person speaking in Bengali may use taka to refer to money regardless of what currency it is denominated in, thus, in the states of West Bengal and Tripura the Indian rupee is officially known টাকা. Whereas, in the states of Assam and Odisha, the Indian rupee is known by names derived from the Sanskrit word ṭaṅka, টকা in Assamese. During his five-year rule from 1540 to 1545, Sultan Sher Shah Suri issued a coin of silver, weighing 178 grains, the silver coin remained in use during the Mughal period, Maratha era as well as in British India. Among the earliest issues of paper rupees include, the Bank of Hindustan, the General Bank of Bengal and Bihar, historically, the rupee was a silver coin. This had severe consequences in the century when the strongest economies in the world were on the gold standard. The discovery of large quantities of silver in the United States and several European colonies resulted in a decline in the value of relative to gold
10.
Maria Theresa thaler
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In 1750 the thaler was debased to 10 thalers to the Vienna Mark. The following year the new standard was adopted across the German-speaking world when that standard was accepted formally in the Bavarian monetary convention. It is owing to the date of the Bavarian Monetary convention that many writers erroneously state that the Maria Theresa Thaler was first struck in 1751 and it was named after Empress Maria Theresa, who ruled Austria, Hungary, and Bohemia from 1740 to 1780. The word thaler gave rise to daalder and daler, which became dollar in English, since 1780, the coin has always been dated 1780. On 19 September 1857, Emperor Francis Joseph of Austria declared the Maria Theresa Taler to be an official trade coinage, a little over a year later, on 31 October 1858, the Maria Theresa Taler lost its status as currency in Austria. The MTT could also be found throughout the Arab world, especially in Saudi Arabia, Yemen, and Muscat and Oman, in Africa, especially in Ethiopia, in German-speaking countries, following a spelling reform dated 1901 that took effect two years later, Thaler is written Taler. Hence 20th-century references to this coin in German and Austrian sources are found under Maria-Theresien-Taler, the spelling in English-speaking countries was not affected. The thaler is 39. 5-41 mm in diameter and 2.5 mm thick, weighs 28.0668 grams and it has a silver content of.833 and a copper content of.166 of its total millesimal fineness. Note, Rome mint struck MTTs are marginally lighter being produced in finer 835 standard instead of 833 standard silver, the inscription on the obverse of this coin is in Latin, M. THERESIA D. G. R. IMP. It is an abbreviation of Maria Theresia, Dei Gratia Romanorum Imperatrix, Hungariae Bohemiaeque Regina, Archidux Austriae, Dux Burgundiae, Comes Tyrolis. 1780 X, which means, Maria Theresa, by the grace of God, Empress of the Romans, Queen of Hungary and Bohemia, Archduchess of Austria, Duchess of Burgundy, Countess of Tyrol. The X is actually a saltire, and was added in 1750 indicating the new debased standard of the thaler, around the rim of the coin is the motto of her reign, Justitia et Clementia, meaning Justice and Clemency. The MTT continues to be produced by the Austrian Mint, and is available in proof and uncirculated conditions. The MTT quickly became a trade coin and several nations began striking Maria Theresa thalers. Between 1751 and 2000, some 389 million were minted and these different mints distinguished their issues by slight differences. In 1935 Mussolini gained a 25-year concession over production of the MTT, in 1961 the 25-year concession ended and Austria made diplomatic approaches to the relevant governments requesting they cease production of the coin. The UK was the last government to agree to the request in February 1962. The MTT came to be used as currency in parts of Africa until after World War II
11.
Muscat and Oman
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The Sultanate of Muscat and Oman was a thalassocratic nation that encompassed the present day Sultanate of Oman and parts of present-day United Arab Emirates and Gwadar, Pakistan. The country is not to be confused with Trucial Oman, which were sheikhdoms under British protection since 1820, historical differences always existed between the more secular, rich, seafaring coastal Sultanate of Muscat and the tribes of the interior. The Sultanate of Muscat also engaged in a very lucrative slave trade across east Africa, recently, a claim was made by an Omani minister, suggesting that the Sultanate controlled the distant Mascarene Islands as early as the 15th century. In the early 1820s, the Sultanate lost most of its territories in the Persian Gulf, the fifth Sultan of the Al Said dynasty, Said bin Sultan, consolidated the Sultanates territorial holdings and economic interests and Oman prospered. However, the Omani fleet was unable to compete with the technically advanced European fleets. Pressure by the British to abandon the slave trade led to the loss of political. On June 4,1856, Said bin Sultan died without appointing an heir to the throne, through British mediation, two rulers were appointed from the Al Said clan, the third son of the Sultan, Thuwaini bin Said became ruler of the mainland. His sixth son, Majid bin Said, became ruler of an independent Sultanate of Zanzibar on October 19,1856, the Sultans of Zanzibar were thereafter obliged to pay an annual tribute to Muscat. The Sultanate of Muscat was regularly under attack from the devout Ibadi tribes who resented the influence of the more secular coastal people, the Sultanate was however able to defend itself with British help. The last overseas possession, the port of Gwadar across the Gulf of Oman, was sold to Pakistan in 1958, the discovery of oil in the Persian Gulf exacerbated the dispute between the Sultan in Muscat and the Imams of Oman. Oil exploration had begun in the early 1920s by the Anglo-Persian Oil Company, the course of the second world war severely disrupted such activities. The last Imam of Oman, Ghalib Bin Ali, started an uprising in 1954 when the Sultan granted licenses to the Iraq Petroleum Company despite the fact that the largest oil fields lay inside the Imamate. The hostilities were put down in 1955, but the conflict would evolve into the Jebel Akhdar rebellion. The insurgency erupted again in 1957, when Saudi Arabia began supporting the Ibadi rebels, the same year, the British forces bombarded the town of Nizwa, the capital of the Imamate, and toppled the Ibadi theocracy. Ghalib Bin Ali went into exile in Saudi Arabia and the last rebel forces were defeated two years later, in 1959, the Treaty of Seeb was terminated and the autonomous Imamate of Oman abolished. The frequency of such as the Dhofar Rebellion, supported by the communist government of South Yemen. The British chose the Western-educated son of the Sultan, Qaboos bin Said who was locked up in the palace, because his paranoid father feared a coup. On his release, Qaboos bin Said, with the help of British military forces, staged a palace coup and was proclaimed Sultan of Muscat
12.
Paisa
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The paisa or poisha is a monetary unit in several countries, cognate terms include Baisa. In India, Nepal and Pakistan, the paisa currently equals 1⁄100 of a rupee, in Bangladesh, the poisha equals 1⁄100 of a Bangladeshi taka. In Oman, the baisa equals 1⁄1000 of an Omani rial, the word paisa is from the Sanskrit term padāṁśa, meaning quarter part, from pada foot or quarter and aṁśa part. Another explanation is that the word derives from Portuguese ´pesa´ from which peso, the pesa was also in use in colonial Kenya. The colloquial term for money in Burmese, paiksan, derives from the Hindi term paisa, until the 1950s in India and Pakistan, the paisa was equivalent to 3 pies, 1⁄4 of an anna, or 1⁄64 of a rupee. In Hindi, Afghan Persian, and other languages, the word often means money or cash. Medieval trade routes that spanned the Arabian Sea between India, the Arab regions and East Africa spread the usage of Indian subcontinent and Arabic currency terms across these areas, the word pesa as a reference to money in East African languages such as Swahili dates from that period. An example of usage is the older day Kenyan mobile-phone-based money transfer service M-Pesa. Poisha = 1⁄100 of a Bangladeshi taka Paisa = 1⁄100 of an Indian rupee Paisa = 1⁄100 of a Nepalese rupee Baisa = 1⁄1000 of an Omani rial Paisa = 1⁄100 of a Pakistani rupee Indian paisa
13.
Dhofar Governorate
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The Dhofar Governorate is the largest of the eleven Governorates in the Sultanate of Oman in terms of area. It lies in Southern Oman, on the border with Yemen. It is a mountainous area that covers 99,300 km2 and has a population of 249,729 as of the 2010 census. The largest city, as well as capital of the Governorate, is Salalah, historically the region was the chief source of frankincense in the world. One of the languages most commonly spoken by the Al-Hakli, Al-Shahri, Al-Barami, Al-Mashaiki, the Yemeni language Mehri is somewhat linked to Jeballi. Other indigenous groups speaking smaller languages such as Bathari live in the towns of Shuwaymiya. The Harasis, speaking Harsusi, number 1, 000–2,000, dhofars area geographically consists of coastal, mountainous, flat, and desert areas. Generally the people of Dhofar can be identified as either Jeballi, Badawi, Dhofar and a small portion of the northern tip of Yemen are directly exposed to the South East monsoon from mid-June to mid-September, this is known as the Khareef. As a result, it has a lush green climate during the monsoon season, dhofars temporarily wet climate contrasts sharply with the neighboring barren Empty Quarter Desert. The Salalah plain was once a well cultivated area with an irrigation system. Two optically stimulated luminescence age estimates place the Arabian Nubian Complex at 106,000 years old and this provides evidence for a distinct Middle Stone Age technocomplex in southern Arabia around the earlier part of the Marine Isotope Stage 5. Prior to Omani rule, a portion of Dhofar was partially part of the Kathiri Sultanate and later controlled by tribes of Al-Hakli. It is thought that the Al-Shahri were the inhabitants of Dhofar. Dhofar was an exporter of frankincense in ancient times, with some of it being traded as far as China. During World War I it was enough to produce food. It aimed to depose the Sultan, Dhofar has a tribal community, and is home to many ancient tribes. The Arab tribes include, Al-Hakli, Hashimi, Al-Yafei, Al-Mashaikhi, Al-Shahri, Al-Mahri, Al-Bathari, still, Dhofar is not a rural region but, in fact, has a combination of cultures. It is a mixture of traditional Omani heritage and a way of living
14.
Saudi riyal
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The Saudi riyal, is the currency of Saudi Arabia. It is abbreviated as ر. س or SR and it is subdivided into 100 halalas. The Hejaz riyal was based on but not equivalent to the Ottoman 20 kuruş coin and was divided into 20 qirsh. However, although the Hejaz riyal was the weight as the Ottoman 20 kuruş, it was minted in.917 fineness. The system remained even though the riyal was subsequently debased to an equivalent, in silver content. In 1960, the system was changed to 20 qirsh to a riyal, some Saudi coins still bear denominations in qirsh, but it is no longer commonly used. In 1925, transitional copper coins for 1⁄4 and 1⁄2 qirsh were minted in Makkah by Ibn Saud and they were followed, in 1926, by 1⁄4, 1⁄2 and 1 qirsh cupro-nickel pieces carrying the title King of Hejaz and Sultan of Nejd. In 1927, the title was changed to King of Hejaz and Nejd and Dependencies and coins were issued in denominations of 1⁄4, 1⁄2 and 1 qirsh in cupro-nickel and 1⁄4. In 1935, the first coins were issued in the name of Saudi Arabia and these were silver 1⁄4, 1⁄2 and 1 riyal coinswhich were nearly 50% lighter than the previous issue. Cupro-nickel 1⁄4, 1⁄2 and 1 qirsh were also issued from 1937, in 1946, many of the cupro-nickel coins were countermarked with the Arabic numerals 65 in what Krause and Mishler describe as a move to break money changers monopoly on small coins. Cupro-nickel 2 and 4 qirsh were introduced in 1957, in 1963, the halala was introduced, and bronze 1 halala coins were issued. That was the year they were struck. Cupro-nickel 5,10,25 and 50 halala followed in 1972, in 1976, cupro-nickel 1 riyal coins were introduced, which are also inscribed with the denomination 100 halala. Bimetallic 1 riyal coins, also marked 100 halala, were issued in 1999, in 2017, a new serie of seven coins is introduced and replace previous coins in a aim to make coins more popular. The following denomination are introduced In 1953, the Saudi Arabian Monetary Agency began issuing Haj Pilgrim Receipts for 10 riyals, with 1 and 5 riyals following in 1954 and 1956 and these resembled banknotes and were initially intended for use by pilgrims who exchanged foreign currency for them. However, they became widely accepted in Saudi Arabia and largely replaced silver riyal coins in major financial transactions, consequently, the Monetary Agency began issuing regular banknotes for 1,5,10,50 and 100 riyals on 15 June 1961. The Pilgrim Receipts were withdrawn on 1 February 1965,500 Riyal notes were introduced in 1983. 20 and 200 riyal banknotes were issued in 2000 to commemorate the centenary of the founding of what became the Kingdom of Saudi Arabia, the 5th series of banknotes bearing the face of King Abdullah were issued in 2007
15.
Pound sterling
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It is subdivided into 100 pence. A number of nations that do not use sterling also have called the pound. At various times, the sterling was commodity money or bank notes backed by silver or gold. The pound sterling is the worlds oldest currency still in use, the British Crown dependencies of Guernsey and Jersey produce their own local issues of sterling, the Guernsey pound and the Jersey pound. The pound sterling is also used in the Isle of Man, Gibraltar, the Bank of England is the central bank for the pound sterling, issuing its own coins and banknotes, and regulating issuance of banknotes by private banks in Scotland and Northern Ireland. Sterling is the fourth most-traded currency in the exchange market, after the United States dollar, the euro. Together with those three currencies it forms the basket of currencies which calculate the value of IMF special drawing rights, Sterling is also the third most-held reserve currency in global reserves. The full, official name, pound sterling, is used mainly in formal contexts, otherwise the term pound is normally used. The abbreviations ster. or stg. are sometimes used, the term British pound is commonly used in less formal contexts, although it is not an official name of the currency. The pound sterling is also referred to as cable amongst forex traders, the origins of this term are attributed to the fact that in the 1800s, the dollar/pound sterling exchange rate was transmitted via transatlantic cable. Forex brokers are sometimes referred to as cable dealers, as another established source notes, the compound expression was then derived, silver coins known as sterlings were issued in the Saxon kingdoms,240 of them being minted from a pound of silver. Hence, large payments came to be reckoned in pounds of sterlings, in 1260, Henry III granted them a charter of protection. And because the Leagues money was not frequently debased like that of England, English traders stipulated to be paid in pounds of the Easterlings, and land for their Kontor, the Steelyard of London, which by the 1340s was also called Easterlings Hall, or Esterlingeshalle. For further discussion of the etymology of sterling, see sterling silver, the currency sign for the pound sign is £, which is usually written with a single cross-bar, though a version with a double cross-bar is also sometimes seen. The ISO4217 currency code is GBP, occasionally, the abbreviation UKP is used but this is non-standard because the ISO3166 country code for the United Kingdom is GB. The Crown dependencies use their own codes, GGP, JEP, stocks are often traded in pence, so traders may refer to pence sterling, GBX, when listing stock prices. A common slang term for the pound sterling or pound is quid, since decimalisation in 1971, the pound has been divided into 100 pence. The symbol for the penny is p, hence an amount such as 50p properly pronounced fifty pence is more colloquially, quite often, pronounced fifty pee /fɪfti, pi and this also helped to distinguish between new and old pence amounts during the changeover to the decimal system
16.
History of Oman
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This article is about the history of Oman. Two optically stimulated luminescence age estimates place the Arabian Nubian Complex at approximately 106,000 years old and this provides evidence for a distinct Middle Stone Age technocomplex in southern Arabia, around the earlier part of the Marine Isotope Stage 5. Samples from the times had little pollen or charcoal, suggesting sparse vegetation with little to burn. The area around Lake Malawi, today heavily forested, was a desert approximately 135,000 to 90,000 years ago, the stone tools, some up to 125,000 years old, resemble those made by humans in Africa around the same period. Luminescence dating is a technique that measures naturally occurring radiation stored in the sand, data culled via this methodology demonstrates that 130,000 years ago, the Arabian Peninsula was relatively more warm which caused more rainfall, turning it into a series of lush habitable land. During this period the southern Red Sea’s levels dropped and was only 2.5 miles or 4 km wide and this offered a brief window of time for humans to easily cross the sea and cross the Peninsula to opposing sites like Jebel Faya. These early migrants running away from the change in Africa, crossed the Red Sea into Yemen and Oman. 2,000 kilometres of inhospitable desert lie between the Red Sea and Jebel Faya in UAE, but around 130,000 years ago the world was at the end of an ice age. The Red Sea was shallow enough to be crossed on foot or on a raft. The northern half of Oman was part of the Maka satrapy of the Persian Achaemenid Empire, by the time of the conquests of Alexander the Great, the satrapy was likely already independent, as it played no part in the struggle. It remained independent until it was reestablished as a satrapy by the Parthian and Sassanian empires, Persian domination ended due to the invading Arab Muslims during the Muslim conquest of Persia. Islam was introduced to Oman in the 7th century, during the lifetime of the prophet Muhammad, Ibadism became the dominant religious sect locally by the 8th century. Oman is currently the country with a majority Ibadi population. Ibadhism has a reputation for its moderate conservatism, one distinguishing feature of Ibadism is the choice of ruler by communal consensus and consent. Several millennia ago, Arab tribes migrated eastward to Oman, coinciding with the presence in the region of peoples from present-day Iran. The introduction of Ibadism vested power in the Imam, the leader nominated by the ulema, the Imams position was confirmed when the imam — having gained the allegiance of the tribal sheiks — received the bayah from the public. In 751 Ibadi Muslims, a branch of the Kharijites. Despite interruptions, the Ibadi imamate survived until the mid-20th century, the Qarmatians controlled the area between 931 and 932 and then again between 933 and 934
17.
Indian anna
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An anna was a currency unit formerly used in India and Pakistan, equal to 1/16 rupee. It was subdivided into 4 paisa or 12 pies, the term belonged to the Muslim monetary system. The ānā was demonetised as a unit when India decimalised its currency in 1957. It was replaced by the 5-paise coin, which was discontinued in 1994. Even today, though, a 50 paise coin is colloquially referred to as 8 ānās. There was a coin of one ānā, and also half-ānās of copper, the term ānā is frequently used to express a fraction of 1/16. Additionally, ānā denominated postage stamps used during the British Indian period, Indian coinage British Indian coins History of the rupee
18.
Qaboos bin Said al Said
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Qaboos bin Said Al Said is the Sultan of Oman. He rose to power after overthrowing his father, Said bin Taimur and he is the 14th-generation descendant of the founder of the Al Bu Saidi dynasty. He is the longest serving Arab leader having held the office since 1970, Qaboos was born in Salalah in Dhofar on 18 November 1940. He is the son of Sultan Said bin Taimur and Sheikha Mazoon al-Mashani. At 20, he entered the Royal Military Academy Sandhurst, after graduating from Sandhurst in September 1962, he joined the British Army and was posted to the 1st Battalion The Cameronians, serving with them in Germany for one year. He also held an appointment with the British Army. After his military service, Qaboos studied local government subjects in England, upon his return in 1966, he was placed under virtual house arrest in the Sultans palace in Salalah by his father. Here he was isolated from government affairs, except for occasional briefings by his fathers personal advisers. Qaboos studied Islam and the history of his country and his personal relationships were limited to a handpicked group of palace officials who were sons of his fathers advisors and a few expatriate friends such as Tim Landon. Qaboos acceded to the throne on 23 July 1970 following a coup against his father, with the aim of ending the countrys isolation and using its oil revenue for modernization. He declared that the country would no longer be known as Muscat and Oman, the first pressing problem that Qaboos bin Said faced as Sultan was an armed communist insurgency from South Yemen, the Dhofar Rebellion. The sultanate eventually defeated the incursion with help from the Shah of Iran, Jordanian troops sent from his friend King Hussein of Jordan, British Special Forces, there were few rudiments of a modern state when Qaboos took power in July 1970. The political system which Qaboos established is that of an absolute monarchy, the Sultans birthday,18 November, is celebrated as Omans national holiday. The first day of his reign,23 July, is celebrated as Renaissance Day, Oman has no system of checks and balances, and thus no separation of powers. All power is concentrated in the sultan, who is chief of staff of the armed forces, Minister of Defence, Minister of Foreign Affairs. All legislation since 1970 has been promulgated through royal decrees, including the 1996 Basic Law, the sultan appoints judges, and can grant pardons and commute sentences. The sultans authority is inviolable and the sultan expects total subordination to his will, beyond the recent protests, there is concern about succession in the country, as there is no heir apparent or any clear legislation on who may be the next Sultan. His closest advisors are reportedly security and intelligence professionals within the Royal Office, Qaboos officially keeps Oman neutral, having contacts and normal relations with Iran while being an ally of western states like the United Kingdom and the United States
19.
Nakhal Fort
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Nakhal Fort is a large fortification in the Al Batinah Region of Oman. It is named after the Wilayah of Nakhal, the fort houses a museum, operated by the Ministry of Tourism, which has exhibits of historic guns, and the fort also hosts a weekly goat market. The fort, also known as Husn Al Heem, was named after the state of Nakhal where it exists above the old village of Nakhl and it has a history which dates back to the pre-Islamic period. Over the centuries, it underwent many renovations and improvements and it was re-built by Omani architects in the 17th century. Built as a measure for an area oasis and nearby trade routes. The gateway and towers seen now were built in 1834 attributed to imam Said bin Sultan. In 1990, it was fully renovated, imams of Wadi Bani Kharous and the Yaarubah dynasty resided here in the past. In November 2003, Prince Charles visited the fort during an official visit to Oman. The fort is approximately 120 kilometres to the west of Muscat and it is situated on a rocky prominence at the foot of Jebel Nakhal, a spur of the main Western Hajar range. It is to the northeast of Jabal Akhdar also called green mountain, Nakhal Fort is surrounded by orchards of palm trees. Its battlements provide a view of the Al-Batinah Region, the ancient Nakhal village is below the fort and close by is the warm springs of Ain AThawwarah. Nakhal Fort is one of several fortifications in the Al Batinah Region, the others being Al Hazim, Al-Sifalah, Rustaq, and Shinas forts. Built in the style of the Sultanate of Oman, it is unique in that it was built to fit around an irregularly-shaped rock. The fort houses a museum, operated by the Ministry of Tourism with exhibits of historic guns, a weekly Friday goat auction market takes place within the precincts of the fort. During recent renovations the fort has been fitted with traditional furniture, handicrafts, media related to Nakhal Fort at Wikimedia Commons
20.
Sultan Qaboos Sports Complex
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The Sultan Qaboos Stadium at the Sultan Qaboos Sports Complex also known locally as, Boshar, is a government owned multi-purpose stadium in the Boshar district of Muscat, Oman. It is currently used mostly for football matches, and also has facilities for athletics, the stadium originally had a capacity of over 40,000, but after recent renovations the capacity was reduced to 34,000 people. It is the stadium of the Oman national football team. The Qaboos Stadium was used as the stadium in the recent,2009 Gulf Cup of Nations. The Complex has strong security, in addition to over 10,000 parking slots, Sultan Qaboos Sports Complex - WORLD STADIUMS
21.
Sultan Qaboos University
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Sultan Qaboos University, located in Al Khoudh in the Muscat Governorate, is the only public university in the Sultanate of Oman. Most students entering the university are selected based on their performance in high school final examinations, student enrollment has grown from 500 in 1986 to more than 10,000 in 2005. More than half of the students live off campus due to space constraints and it currently has around 15,357 students of which 7,942 are female students and 7,415 are male students
22.
Nizwa
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Nizwa is the largest city in the Ad Dakhiliyah Region in Oman and was the capital of Oman proper. Nizwa is about 140 km from Muscat, the population is estimated at around 72,000 people including the two areas of Burkat Al Mooz and Al Jabel Al Akhdar. Nizwa is one of the oldest cities in Oman and it was once a center of trade, religion, education and its Jama was formerly a center for Islamic learning. Nizwa acquired its importance because it has been an important meeting point at the base of the Western Hajar Mountains, today, Nizwa is a diverse prosperous place with numerous agricultural, historical and recreational aspects. Nizwa is a center for growing and is the market place for the area. Historians cannot agree on the origins of the name of the city, some suggest the name was derived from the Arabic verb which means being alone. Others say that the city was named after an old water spring, Nizwa was the capital of Oman in the 6th and 7th centuries AD. There are also Al-Ain Mosque, Ash-Sheikh Mosque and Shuraij Mosque in Tanuf built in 377 AH, the conflict was driven by a struggle for shares in Omans newly discovered oil wealth. Nizwa has become a modern city since 1970 under the reign of Sultan Qaboos. Improvements include connections to Muscat via a highway, which has increased tourism. Communications have been improved to include access, and the city is home to a substantial hospital. It is also a hub for education including a Technical College, College of Applied Sciences, The University of Nizwa, there are now four hotels and tourism is promoted in the area. Mountains surround Nizwa from every side and there are some outstanding mountain scenery close by, Nizwa has an arid climate under Köppens climate classification. In the winter from November until March the climate is pleasant with temperatures as low as 12 C in January, in the summer, the climate is hot and dry with temperatures reaching 45 C in July. The main tourist attractions in the city are Nizwa Fort, the traditional Souq, in the 1990s, the Jama, the fort and the souq which sit next to each other in the centre were renovated using the same traditional materials. In 1993 Nizwa won the award of Organisation of Arab Cities, Nizwa fort was built in the 1668 AD by Imam Sultan Bin Saif Al Yarubi. It is Omans most visited national monument, the fort was the administrative seat of authority for the presiding Imams and Walis in times of peace and conflict. The main bulk of the fort took about 12 years to complete and was built above an underground stream, the fort is a reminder of the towns significance through turbulent periods in Omans long history
23.
Sultan Qaboos Grand Mosque
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The Sultan Qaboos Grand Mosque is the main Mosque in the Sultanate of Oman. It is in the city of Muscat. In 1992 Sultan Qaboos directed that his country of Oman should have a Grand Mosque, a competition for its design took place in 1993 and after a site was chosen at Bausher construction commenced in 1995. Building work, which was undertaken by Carillion Alawi LLC took six years, the Mosque is built from 300,000 tonnes of Indian sandstone. The main musalla is square with a dome rising to a height of fifty metres above the floor. The dome and the minaret and four flanking minarets are the mosque’s chief visual features. The main musalla can hold over 6,500 worshippers, while the women’s musalla can accommodate 750 worshipers. The outer paved ground can hold 8,000 worshipers and there is space available in the interior courtyard. The Mosque is built on a site occupying 416,000 square metres, the newly built Grand Mosque was inaugurated by Sultan of Oman on May 4,2001. A major feature of the design of the interior is the carpet which covers the floor of the prayer hall. It contains,1,700,000,000 knots, weighs 21 tonnes and took four years to produce,28 colors in varying shades were used, the majority obtained from traditional vegetable dyes. It is the second largest single piece carpet in the world and this hand-woven carpet was produced by Iran Carpet Company at the order of the Diwan of the Royal Court of Sultanate. The carpet measures over 70 ×60 meters, and covers the 4,343 square meter area of the praying hall, the chandelier above the praying hall is 14 meters tall and was manufactured by company Faustig from Italy. Official site from the Ministry of Tourism Video and pictures of the Grand Mosque Biggest Chandelier in the World Official Panoramic virtual tour of the Grand Mosque by the Diwan of Royal Court
24.
Royal Opera House Muscat
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The Royal Opera House Muscat is Omans premier venue for musical arts and culture. The opera house is located in Shati Al-Qurm district of Muscat, built on the royal orders of Sultan Qaboos of Oman, the Royal Opera House reflects contemporary Omani architecture, and has a capacity to accommodate maximum of 1,100 people. The ruler of Oman, Sultan Qaboos bin Said Al Said has been always a fan of classical music, in 2001, the sultan ordered the building of an opera house. Initially called House of Musical Arts, the name Royal Opera House Muscat was finally chosen and this opera house, which was built by Carillion Alawi, became the first in the world equipped with Radio Marconis multimedia interactive display seatback system, Mode23. It was officially opened on October 12,2011, with a production of the opera Turandot, the opera house had an impressive first season, with performances by Plácido Domingo, Andrea Bocelli, and soprano Renée Fleming. There have been some Arab artists performing at the house as well such as Majida El Roumi as well as a tribute in honour of legendary Arab singer Um Kalthoum. In March 2013, Indian violin icon Dr L. Subramanyam performed at the opera house, Royal Opera House Muscat - Official website
25.
Kuwaiti dinar
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The Kuwaiti dinar is the currency of Kuwait. It is sub-divided into 1,000 fils, the Kuwaiti dinar is the worlds highest-valued currency unit. The dinar was introduced in 1960 to replace the Gulf rupee and it was initially equivalent to one pound sterling. As the rupee was fixed at 1 shilling 6 pence, that resulted in a rate of 13 1⁄3 rupees to the dinar. When Iraq invaded Kuwait in 1990, the Iraqi dinar replaced the Kuwaiti dinar as the currency, after liberation, the Kuwaiti dinar was restored as the countrys currency and a new banknote series was introduced, allowing the previous notes, including those stolen, to be demonetized. The following coins were first introduced in 1961,1 fils 2 fils 5 fils 10 fils 20 fils 50 fils 100 fils Six series of the Kuwaiti dinar banknote have been printed. The first series was issued following the pronouncement of the Kuwaiti Currency Law in 1960 and this series was in circulation from 1 April 1961 to 1 February 1982 and consisted of denominations of 1⁄4, 1⁄2,1,5 and 10 and 20 dinars. This second series was withdrawn on 1 February 1982, the third series was issued on 20 February 1980, after the accession to the throne of late Emir Jaber al-Ahmad al-Jaber al-Sabah, in denominations of 1⁄4, 1⁄2,1,5 and 10 dinars. A20 dinars banknote was introduced later on 9 February 1986, as a result of the state of emergency after the Invasion of Kuwait, this series was ruled invalid with effect from 30 September 1991. Significant quantities of these notes were stolen by Iraqi forces and some had appeared on the numismatic market. This fourth series was legal tender until 16 February 1995, denominations were 1⁄4, 1⁄2,1,5,10 and 20 dinar. The fifth series of Kuwaiti banknotes were in use from 3 April 1994, denominations were as in the fourth series. Central Bank of Kuwait brought the series of Kuwaiti banknotes into circulation on 29 June 2014. Some of the bills are coarse so that the blind can identify them by touch. In both 1993 and 2001, the Central Bank of Kuwait issued commemorative 1-dinar polymer banknotes to celebrate its Liberation from Iraq, the first commemorative note, dated 26 February 1993, was issued to celebrate the second anniversary of the Liberation. The front features the map of the State of Kuwait, the emblem of Kuwait and on the left and right side of the note is the list of nations that assisted in its Liberation, in both English and Arabic. The second commemorative note, dated 26 February 2001, was issued to celebrate the anniversary of the Liberation. One feature from the note is an optically variable device patch that shows a fingerprint, even though they were denominated as 1 dinar, both of the commemorative notes state that they were not legal tender. 100 From 18 March 1975 to 4 January 2003, the dinar was pegged to a currency basket
26.
Bahraini dinar
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The dinar is the currency of Bahrain. It is divided into 1000 fils, the name dinar derives from the Roman denarius. The dinar was introduced in 1965, replacing the Gulf rupee at a rate of 10 rupees =1 dinar, the Bahraini dinar is abbreviated. د. ب or BD. It is usually represented with three decimal places denoting the fils, in 1965, coins were introduced in denominations of 1,5,10,25,50 and 100 fils. The 1,5 and 10 fils were struck in bronze, the 1 fils coin was not produced after 1966 and no longer circulates. In 1992, brass replaced bronze in the 5 and 10 fils, a bimetallic 500 fils followed in 2000. The Central Bank of Bahrain discontinued the Bimetallic 500 fils after the revolution of Bahrain on 14 Feb 2011, for a wider history surrounding currency in the region, see The History of British Currency in the Middle East. On October 16,1965, the Bahrain Currency Board introduced notes in denominations of 1⁄4, 1⁄2,1,5 and 10 dinars, a 100-fils note was introduced on September 2,1967. In 1973, the Bahrain Monetary Agency took over the issuance of paper money, on September 7,2006, the Bahrain Monetary Agency was renamed the Central Bank of Bahrain. On March 17,2008, the Central Bank of Bahrain introduced a new family of notes reflecting Bahrains heritage as well as its modern development. Saudi riyals are also acceptable in Bahrain, with the exception of the Saudi 500 riyal note which is accepted in major supermarkets, airports. In December 1980, the dinar was pegged to the IMFs special drawing rights. In practice, it is fixed at $1 USD =0.376 BD and this rate was made official in 2001. Before Maltas adoption of the euro on 1 January 2008, it was the currency unit after the Kuwaiti dinar. After Malta adopted the euro, the became the second highest-valued currency unit
27.
Economy of Oman
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Oman is a country in the Middle East. Current GDP per capita] has expanded continuously in the past 50 years and it grew 339% in the 1960s reaching a peak growth of 1, 370% in the 1970s scaling back to modest 13% growth in the 1980s and rising again to 34% in the 1990s. This is a chart of trend of the domestic product. Omans economic performance improved significantly in 1999 due largely to the upturn in oil prices. The government is moving ahead with privatization of its utilities, the development of a body of law to facilitate foreign investment. Oman liberalized its markets in an effort to accede to the World Trade Organization, today, petroleum fuels the economy and revenues from petroleum products have enabled Omans dramatic development over the past 30 years. Oil was first discovered in the interior near Fahud in the desert in 1964. Petroleum Development Oman began production in August 1967, the Omani Government owns 60% of PDO, and foreign interests own 40%. In 1976, Omans oil production rose to 366,000 barrels per day, from 1981 to 1986, Oman compensated for declining oil prices, by increasing production levels to 600,000 b/d. With the collapse of oil prices in 1986, however, revenues dropped dramatically, by mid-2000, production had climbed to more than 900,000 b/d where they remain. Oman is not a member of OPEC, natural gas reserves, which will increasingly provide the fuel for power generation and desalination, stand at 18 trillion ft³. The Oman LNG processing plant located in Sur was opened in 2000, with capacity of 6.6 million tons/YR, as well as unsubstantial gas liquids. Oman does not have the oil resources of some of its neighbors. Nevertheless, in recent years, it has found more oil than it has produced, Omans complex geology makes exploration and production an expensive challenge. Recent improvements in technology, however, have enhanced recovery, agriculture and fishing are the traditional way of life in Oman. Dates and limes, grown extensively in the Batinah coastal plain, coconut palms, wheat, and bananas also are grown, and cattle are raised in Dhofar. Other areas grow cereals and forage crops, fish and shellfish exports totaled $34 million in 2000. The government is undertaking many development projects to modernize the economy, improve the standard of living, Oman became a member of the World Trade Organization in October 2000, and continues to amend its financial and commercial practices to conform to international standards
28.
Gulf Cooperation Council
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Its member states are Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates. The Charter of the Gulf Cooperation Council was signed on 25 May 1981, all current member states are monarchies, including three constitutional monarchies, two absolute monarchies, and one federal monarchy. There have been regarding the future membership of Jordan, Morocco. Objections have been raised against the proposal by other countries, in 2014, Bahrain prime minister Khalifa bin Salman Al Khalifa said that current events in the region highlighted the importance of the proposal. In order to reduce their dependence on oil in the future, the original union comprised the 1,032, 093-square-mile Persian Gulf states of Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates. The unified economic agreement between the countries of the Gulf Cooperation Council was signed on 11 November 1981 in Abu Dhabi and these countries are often referred to as the GCC states. Following the announcement that the bank for the monetary union would be located in Riyadh and not in the UAE. The name Khaleeji has been proposed as a name for this currency, if realised, the GCC monetary union would be the second largest supranational monetary union in the world, measured by GDP of the common-currency area. In an effort to build a tax base and economic foundation before the run out. Other regional funds also have hundreds of billions of dollars of assets under management. The region is also a hotspot for events, including the 2006 Asian Games in Doha. Doha also submitted an application for the 2016 Summer Olympic Games. Qatar was later chosen to host the 2022 FIFA World Cup, the logo of the GCC consists of two concentric circles. On the upper part of the circle, the Bismillah phrase is written in Arabic. The inner circle contains a hexagonal shape that represents the Councils six member countries. The inside of the hexagon is filled by a map encompassing the Arabian Peninsula, on which the areas of the countries are borderless. On the edge of the hexagon are colors representing the flags of the six member countries, a common market was launched on 1 January 2008 with plans to realise a fully integrated single market. It eased the movement of goods and services, however, implementation lagged behind after the 2009 financial crisis
29.
Kazakhstani tenge
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The tenge is the currency of Kazakhstan. It is divided into 100 tïın, after the collapse of the Soviet Union, attempts were made by most republics to maintain a common currency. Some politicians were hoping to at least maintain special relations among former Soviet republics, other reasons were the economic considerations for maintaining the ruble zone. The wish to preserve strong trade relations between former Soviet republics was considered the most important goal, the break-up of the Soviet Union was not accompanied by any formal changes in monetary arrangements. The Central Bank of Russia was authorized to take over the State Bank of the USSR on 1 January 1992. It continued to ship USSR ruble notes and coins to the banks of the fourteen newly independent countries. The political situation, however, was not favorable for maintaining a common currency and these conditions were far from being met amidst the turbulent economic and political situation. During the first half of 1992, a union with 15 independent states all using the ruble existed. Since it was clear that the situation would not last, each of them was using its position as free-riders to issue huge amounts of money in the form of credit. As a result, some countries were issuing coupons in order to protect their markets from buyers from other states, the Russian central bank responded in July 1992 by setting up restrictions to the flow of credit between Russia and other states. The final collapse of the zone began when Russia pulled out with the exchange of banknotes by the Central bank of Russia on Russian territory at the end of July 1993. As a result, Kazakhstan and other still in the ruble zone were pushed out. On November 12,1993, a decree of the President of Kazakhstan, the tenge was introduced on 15 November 1993 to replace the Soviet ruble at a rate of 1 tenge =500 rubles. In 1991 a special group of designers was created, Mendybay Alin, Timur Suleymenov, Asimsaly Duzelkhanov, as such, November 15 is celebrated as the Day of National Currency of Republic of Kazakhstan. In 1995, a printing factory was opened in Kazakhstan. The first consignment of tenge was printed abroad, in the UK, the first coins were minted in Germany. The word tenge in the Kazakh and most other Turkic languages means a set of scales, the origin of the word is the Turkic teŋ- which means being equal, balance. The name of currency is thus similar to the lira, pound
30.
Kyrgyzstani som
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The som is the currency of the Kyrgyz Republic. The ISO4217 currency code is KGS, the som is sub-divided into 100 tyiyn. After the collapse of the Soviet Union attempts were made by most republics to maintain a common currency, certain politicians were hoping to at the very least maintain special relations among former Soviet republics, or the near abroad. Another reason were the economic considerations for maintaining the ruble zone, the wish to preserve the strong trade relations between former Soviet republics was considered the most important goal. The break-up of the Soviet Union was not accompanied by any changes in monetary arrangements. The Central Bank of Russia was authorized to take over the State Bank of the USSR on 1 January 1992. It continued to ship USSR ruble notes and coins to the banks of the fourteen newly independent countries. The political situation, however, was not favorable for maintaining a common currency and these conditions were far from being met amidst the turbulent economic and political situation. During the first half of 1992, a union with 15 independent states all using the ruble existed. Since it was clear that the situation would not last, each of them was using its position as free-riders to issue huge amounts of money in the form of credit. As a result, some countries were issuing coupons in order to protect their markets from buyers from other states, the Russian central bank responded in July 1992 by setting up restrictions to the flow of credit between Russia and other states. The final collapse of the zone began when Russia pulled out with the exchange of banknotes by the Central Bank of Russia on Russian territory at the end of July 1993. The som was introduced on May 10,1993, replacing the Soviet ruble at a rate of 1 som =200 rubles, initially only banknotes were issued, coins were not introduced until 2008. The word som means pure in Kazakh, Kyrgyz, Uyghur and Uzbek, circulation coins were first introduced in January 2008, making Kyrgyzstan second to last of the former Soviet republics to issue them. Belarus became the last of the former Soviet republics that did not issue coins for circulation until the July 1,2016 revaluation of their currency. This move came with growing demand from vendors for coins, especially from slot machine industries, the coins were issued in denominations of 10 and 50 tiyin made of brass-plated steel, and 1,3 and 5 som, made of nickel-plated steel. A nickel-plated steel 10 som coin was issued a year later for 2009, all coins are minted by the Kazakhstan mint in Ust-Kamenogorsk and bear some resemblance to coins of the Russian Federation in their design. There are several commemorative non circulation coins made of silver and gold, on 10 May 1993, the government issued 1,10 and 50 tyiyn notes and the Kyrgyzstan Bank issued notes for 1,5 and 20 som
31.
Tajikistani somoni
–
The somoni is the currency of Tajikistan. It is subdivided into 100 diram, the currency is named after the father of the Tajik nation, Ismail Samani. The somoni was introduced on 30 October 2000, it replaced the Tajikistani ruble, the currency is divided into 100 diram for one somoni. 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, bimetallic 3 and 5 somoni coins were first released in 2003. The reverse of all coins are changed annually and commemorate various events. A second issue dated 2011 was issued in June 2012, Tajikistan coins are struck by Goznak at the Saint Petersburg Mint in Russia. Economy of Tajikistan Notes Sources Coins of Tajikistan at CISCoins. net
32.
Turkmenistan manat
–
The manat is the currency of Turkmenistan. It was introduced on 1 November 1993, replacing the Russian ruble at a rate of 1 manat =500 rubles, the ISO4217 code was TMM, and the manat was subdivided into 100 tenge. The abbreviation m is used, e. g.25000 m is twenty-five thousand manat. On January 1,2009, the new manat was introduced with ISO4217 code TMT at the rate of 5000 old manat to 1 new manat, the word manat is borrowed from the Russian word монета moneta meaning coin. Likewise, manat was the name of the Soviet ruble in both Azeri and Turkmen, in 1993, coins were introduced in denominations of 1,5,10,20 and 50 tenge. The 1,5 and 10 tenge were struck in copper-plated-steel and this first series of coins was short lived as their metal value soon became worth more than their actual face value. After a period of inflation, new coins of 500 and 1,000 manat were introduced in 1999. All coins of this period had to depict a picture of the president by law, during the monetary reform of 2009, new coins of 1,2,5,10,20 and 50 tenge were issued with bimetallic 1 and 2 manats following in 2010. The 1,2, and 5 tenge are nickel-plated steel while the 10,20, instead of depicting the current head of state the coins feature a map of Turkmenistan with the Independence Tower superimposed in front of it. All circulating coins of Turkmenistan have been minted by the Royal Mint, in 1993, manat notes were introduced in denominations of 1,5,10,20,50,100 and 500 manat, replacing the Soviet ruble. These were followed by notes for 1,000 manat in 1995 and 5,000 and 10,000 manat in 1996. In 2005, a new series of notes was introduced in denominations of 50,100,500,1,000,5,000 and 10,000 manat. All notes, with exception to only the 1 and 5 manats bear a portrait of former president Saparmurat Niyazov, all Turkmen banknotes are produced by the De La Rue printing and banknote company. In 2005, a new series of banknotes was introduced. The series of notes was introduced in denominations of 50,100,500,1,000,5,000 and 10,000 manat, two new coins were also introduced in only two denominations,500 and 1,000 manat. Both the first and second issue manat banknotes circulated in tandem until the issue of the Second Manat issue in 2009. After hyperinflation significantly devalued the currency, a new manat with an exchange rate was introduced. The banknotes are printed in denominations of 1,5,10,20,50,100, the 500 manat notes have not yet been released into circulation
33.
Renminbi
–
The renminbi /ˌrɛnmɪnˈbiː/ is the official currency of the Peoples Republic of China. The yuan is the unit of the renminbi, but is also used to refer to the Chinese currency in general. The distinction between the terms renminbi and yuan is similar to that between sterling and pound, which refer to the British currency and its primary unit. One yuan is subdivided into 10 jiao, and a jiao in turn is subdivided into 10 fen, the ISO code for renminbi is CNY, or also CNH when traded in off-shore markets such as Hong Kong. The currency is often abbreviated RMB, or indicated by the yuan sign ¥, in Chinese texts the currency may also be indicated with the Chinese character for the yuan, 圆. The renminbi is legal tender in mainland China, but not in Hong Kong or Macau, renminbi is sometimes accepted in Hong Kong and Macau, and are easily exchanged in the two territories, with banks in Hong Kong allowing people to maintain accounts in RMB. The currency is issued by the Peoples Bank of China, the authority of China. Until 2005, the value of the renminbi was pegged to the US dollar and it has previously been claimed that the renminbis official exchange rate was undervalued by as much as 37. 5% against its purchasing power parity. Since 2006, the exchange rate has been allowed to float in a narrow margin around a fixed base rate determined with reference to a basket of world currencies. The Chinese government has announced that it gradually increase the flexibility of the exchange rate. As a result of the rapid internationalization of the renminbi, it became the worlds 8th most traded currency in 2013, and 5th in 2015. On 1 October 2016, the RMB became the first emerging market currency to be included in the IMFs special drawing rights basket, a variety of currencies circulated in China during the Republic of China era, most of which were denominated in the unit yuán. Each was distinguished by a name, such as the fabi, the gold yuan. During the era of the economy, the value of the renminbi was set to unrealistic values in exchange with western currency. The unrealistic levels at which exchange rates were pegged led to a black market in currency transactions. In the late 1980s and early 1990s, China worked to make the RMB more convertible, through the use of swap centres, the exchange rate was brought to realistic levels and the dual track currency system was abolished. As of 2013, the renminbi is convertible on current accounts, the ultimate goal has been to make the RMB fully convertible. From 1949 until the late 1970s, the state fixed Chinas exchange rate at a highly overvalued level as part of the countrys import -substitution strategy
34.
Hong Kong dollar
–
The Hong Kong dollar is the currency of Hong Kong. It is the thirteenth most traded currency in the world, the Hong Kong dollar is subdivided into 100 cents. It is also used in nearby Macau, where the official currency, in formal Cantonese, the 圓 or 元 character is used. In spoken Cantonese, 蚊 is used, perhaps a transliteration of the first syllable of “money”, the dollar is divided into 100 cents, with the character 仙 used on coins and in spoken Cantonese. However, 仙 is now used in the stock market, as now it no longer has a note or coin form due to its small value. The amount of 10 cents is called 1 houh in Cantonese, the mil was known as the man or tsin in Cantonese. To express prices in spoken Cantonese, for example $7.80, the phrase is 七個八, in terms, where integer values in cents exist, e. g. $6.75. A slang term in English sometimes used for the Hong Kong dollar is Honkie, when Hong Kong was established as a free trading port in 1841, there was no local currency in everyday circulation. Foreign currencies such as Indian rupees, Spanish and Mexican 8 reales, the Chinese did not however receive these new Hong Kong dollars well, and in 1868 the Hong Kong Mint was closed down with a loss of $440,000. The machinery at the Hong Kong mint was sold first to Jardine Matheson and in turn to the Japanese, in 1873, the international silver crisis resulted in a devaluation of silver against gold-based currencies. London eventually acquiesced and legislation was enacted in attempts to regulate the coinage, new British trade dollars were coined at the mints in Calcutta and Bombay for use in both Hong Kong and the Straits Settlements. In 1906, the Straits Settlements issued their own silver dollar coin and this was the point of departure as between the Hong Kong unit and the Straits unit. By 1935, only Hong Kong and China remained on the silver standard, in that year, Hong Kong, shortly after China, abandoned silver and introduced a crawling peg to sterling of £1 = $15.36 to $16.45. It was from this point in time that the concept of a Hong Kong dollar as a unit of currency came into existence. The One-Dollar Currency Note Ordinance of that led to the introduction of one-dollar notes by the government. It was not until 1937 that the tender of Hong Kong was finally unified. In 1939, the Hong Kong dollar was put on a peg of $16 = £1. During the Japanese occupation, the Japanese military yen were the means of everyday exchange in Hong Kong
35.
Japanese yen
–
The yen is the official currency of Japan. It is the third most traded currency in the exchange market after the United States dollar. It is also used as a reserve currency after the U. S. dollar, the euro. Before the Meiji Restoration, Japans feudal fiefs all issued their own money, hansatsu, in an array of incompatible denominations. The New Currency Act of 1871 did away with these and established the yen, the former han became prefectures and their mints private chartered banks, which initially retained the right to print money. To bring an end to this situation the Bank of Japan was founded in 1882, following World War II the yen lost much of its prewar value. To stabilize the Japanese economy the exchange rate of the yen was fixed at ¥360 per $1 as part of the Bretton Woods system, when that system was abandoned in 1971, the yen became undervalued and was allowed to float. The yen had appreciated to a peak of ¥271 per $1 in 1973, then underwent periods of depreciation and appreciation due to the 1973 oil crisis, arriving at a value of ¥227 per $1 by 1980. Since 1973, the Japanese government has maintained a policy of intervention. The Japanese government focuses on an export market, and tries to ensure a low yen value through a trade surplus. Since that time, however, the yen has greatly decreased in value, the Bank of Japan maintains a policy of zero to near-zero interest rates and the Japanese government has an extreme anti-inflation policy. Yen derives from the Japanese word 圓, which is cognate with the Chinese yuan, originally, the Chinese had traded silver in mass called sycees and when Spanish and Mexican silver coins arrived, the Chinese called them silver rounds for their circular shapes. The coins and the name appeared in Japan. While the Chinese eventually replaced 圓 with 元, the Japanese continued to use the same word, 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/ and /we/ both had been pronounced and Portuguese missionaries had spelled them ye, some time thereafter, by the middle of the 18th century, /e/ and /we/ came to be pronounced as in modern Japanese, although some regions retain the pronunciation. In the early Meiji era, James Curtis Hepburn, following Medhurst, spelled all es as ye in his A Japanese and that was the first full-scale Japanese-English/English-Japanese dictionary, which had a strong influence on Westerners in Japan and probably prompted the spelling yen. Hepburn revised most of yes to e in the 3rd edition in order to mirror the contemporary pronunciation and this was probably already fixed and has remained so ever since
36.
North Korean won
–
The won or Korean Peoples Won is the official currency of North Korea. It is subdivided into 100 chon, the won is issued by the Central Bank of the Democratic Peoples Republic of Korea, based in the capital city, Pyongyang. Won is a cognate of the Chinese yuan and Japanese yen, all three names derive from the Chinese word written 圓, which means round shape. The won is subdivided into 100 chon, the won became the currency of North Korea on December 6,1947, replacing the Korean yen that was still in circulation. North Korean won are intended exclusively for North Korean citizens, fECs were used until 1999, then officially abolished in 2002, in favor of visitors paying directly with hard currency, especially the euro. Since at least 2012 foreigners can buy goods priced in tied won using a debit card. One euro would provide a credit of 130 won and this card can be used for instance at the famous Pyongyang Store or at the different stores at the international hotels, where the goods are priced at the tied won rate. This tied won does not exist in the form of bank notes, in normal stores and markets goods are priced in what has been called the untied won or free market rate and regular banknotes can be used here. However, the prices in the normal shops outside the tied won, since 2001, the North Korean government has abandoned the iconic rate of 2.16 won to the dollar and banks in the country now issue at rates closer to the black market rate. More recent official rates have shown the North Korean won to be ₩129.559 to the US dollar, however, rampant inflation has been eroding the North Korean wons value. A report by defectors from North Korea claimed that the market rate was ₩570 to the Chinese yuan in June 2009. The won was revalued in November 2009 for the first time in 50 years, the official exchange rate at this time was around $740 but black market value of the ₩150,000 was estimated to be near $30. The revaluation, seen as a move against private market activity, the Times speculated that the move may have been an attempt by the North Korean government to control price inflation and destroy the fortunes of local black market money traders. The announcement was made to foreign embassies but not in North Korean state media, information was later carried via a wire-based radio service only available within North Korea. As part of the process, the old notes ceased to be legal tender on November 30,2009, with notes valued in the new won not being distributed until December 7,2009. This meant that North Koreans would not be able to exchange any money for goods or services until that date and most shops, restaurants, the only services that remained open were those catering to the political elite and foreigners which continued to trade exclusively in foreign currency. The measure had led to concerns amongst North Korean officials that it would result in civil unrest, authorities threatened merciless punishment for any person who violated the rules of the currency change. Pictures of the new notes were published on December 4,2009, in the Chosun Shinbo, the paper claimed that the measure would weaken the free market and strengthen the countrys socialist system
37.
South Korean won
–
The won or the Korean Republic Won is the currency of South Korea. A single won is divided into 100 jeon, the monetary subunit, the jeon is no longer used for everyday transactions, and appears only in foreign exchange rates. The won is issued by the Bank of Korea, based in the capital city, the old won was a cognate of the Chinese yuan and Japanese yen. It is derived from the hanja 圓, meaning currency or coin, the won was subdivided into 100 jeon, itself a cognate of the Chinese character 錢 which means money and also used as a unit of money in ancient times. The current won is written in hangul only. During the Colonial era, the won was replaced at par by the yen, in 1945 after World War II, Korea became divided, resulting in two separate currencies, both called won, for the South and the North. Both the Southern won and the Northern won replaced the yen at par, the first South Korean won was subdivided into 100 jeon. The South Korean won was pegged to the U. S. dollar at a rate of 15 won =1 dollar. A series of devaluations followed, the ones in part due to the Korean War. The pegs were, The first South Korean won was replaced by the hwan on February 15,1953 at a rate of 1 hwan =100 won, Republic of Korea Banknotes 5th Edition In 1946, the Bank of Joseon introduced 10- and 100-won notes. These were followed in 1949 by 5- and 1, 000-won notes, a new central bank, the Bank of Korea, was established on 12 June 1950, and assumed the duties of Bank of Joseon. Notes were introduced in denominations of 5,10 and 50 jeon, the 500-won notes were introduced in 1952. In 1953, a series of banknotes was issued which, although it gave the denominations in English in won, were, in fact, the won was reintroduced on June 10,1962, at a rate of 1 won =10 hwan. It became the legal tender on March 22,1975. Its ISO4217 code is KRW, at the reintroduction of the won in 1962, its value was pegged at 125 won = $US1. The following pegs operated between 1962 and 1980, On February 27,1980, efforts were initiated to lead to an exchange rate. The won was allowed to float on December 24,1997. Shortly after, the won was devalued to almost half of its value, until 1966, 10- and 50-hwan coins, revalued as 1 and 5 won, were the only coins in circulation
38.
Macanese pataca
–
The Macao pataca, Macau pataca, or Macanese pataca is the currency of Macau. It is subdivided into 100 avos, with 10 avos called ho in Cantonese, the abbreviation MOP$ is commonly used. Macau has a currency board system under which the tender, Macau pataca, is 100 percent backed by foreign exchange reserves. Moreover, the board, Monetary Authority of Macau, has a statutory obligation to issue and redeem pataca on demand against the Hong Kong dollar at a fixed exchange rate. The pataca was introduced in Portuguese Macau and Portuguese Timor in the year 1894, the unit initially corresponded to the Mexican dollar, and it replaced the Portuguese real at a rate of 1 pataca =450 reais. The name pataca derives from the fact that the Portuguese always referred to the Mexican dollar as the pataca mexicana.5 escudos. This meant that the Macau pataca was worth only 1 shilling sterling and was therefore at a discount of 3 pence sterling in relation to the Hong Kong unit. The first exclusively Macau coinage was not introduced until the year 1952, in that year in Macau, denominations below 10 patacas were replaced by coins. In 1980, the Macau government set up the Issuing Institute of Macau, the BNU became the IEMs agent bank and continued to issue banknotes. On agreement with the BNU on October 16,1995, the Macau branch of Bank of China became the second note-issuing bank, the authority to issue patacas was transferred to the Monetary Authority of Macau. Coins were not issued for use in Macau until 1952, with the 20 cent coin of Canton Province circulating, in 1952, bronze 5 and 10 avos, cupro-nickel 50 avos and.720 fineness silver 1 and 5 patacas were introduced. Nickel-brass replaced bronze in 1967, including the last issue of 5 avos, nickel replaced silver in the 1 pataca in 1968. In 1971, a final issue of 5 patacas was produced. Brass 10,20 and 50 avos and cupro-nickel 1 and 5 patacas were introduced in 1982, the 20 avos and 5 patacas became dodecagonal in 1993 and 1992, respectively, whilst a bimetallic 10 patacas was introduced in 1997 and a cupronickel 2 patacas in 1998. Coins are issued by the Monetary Authority of Macau, owing to Macaus Portuguese colonial past, banknotes are printed in Portuguese as well as Chinese, including the name of the Bank of China which is written as both Banco da China and 中國銀行. Following the initial issues of banknotes in 1906, the new currency was supplemented the following year by 10 and 25 pataca notes. In 1923, the Banco Vui Hang introduced 10 pataca notes which stated that they were backed by Cantonese 20 cent coins. These notes were followed until 1934 by cashiers cheques issued by banks in denominations of 1,5,10,50,100,200,400,800 and 1000 dollars
39.
New Taiwan dollar
–
The New Taiwan dollar has been the currency of Taiwan since 1949, when it replaced the Old Taiwan dollar. Originally issued by the Bank of Taiwan, it has been issued by the Central Bank of the Republic of China since 2000, the currency code is TWD, and its common abbreviation is NT$. The Chinese term equivalent to New Taiwan dollar, 新臺幣 or 新台幣, is used only in contexts where it is necessary to avoid any ambiguity, such as banking, contracts, in common usage, the unit is typically referred to as yuán. In Taiwan, the character for yuan can be written in either of two forms, an informal 元 or a formal 圓, which are interchangeable, colloquial alternatives for the currency unit include the Mandarin kuài, meaning piece, and the Taiwanese Hokkien kho͘. In English usage the new Taiwan dollar is often abbreviated as NT, NT$, NT Dollar or NTD, subdivisions of a new Taiwan dollar are rarely used, since practically all products on the consumer market are sold in whole dollars. The New Taiwan dollar was first issued by the Bank of Taiwan on June 15,1949, the first goal of the New Taiwan dollar was to end the hyperinflation that had plagued Nationalist China due to the Chinese Civil War. After the communists captured Beijing in January 1949, the Nationalists began to retreat to Taiwan, chinas gold reserve was moved to Taiwan in February. The government then declared in the Temporary Provisions Effective During the Period of Communist Rebellion that dollars issued by the Bank of Taiwan would become the new currency in circulation. Even though the New Taiwan dollar was the de facto currency of Taiwan, the value of the silver yuan was decoupled from the value of silver during World War II. Many older statutes have fines and fees given in this currency, according to statute, one silver yuan is worth three New Taiwan dollars. Despite decades of inflation, this ratio has not been adjusted and this made the silver yuan a purely notational currency long ago, nearly impossible to buy, sell, or use. In July 2000, the New Taiwan dollar became Taiwans legal currency and it is no longer secondary to the silver yuan. At this time, the bank began issuing New Taiwan dollar banknotes. The exchange rate compared to the United States dollar has varied from less than ten to one in the mid-1950s, more than forty to one in the 1960s, the exchange rate as of March 2017 is 30.2 to one. The denominations of the Taiwan dollar in circulation are, Coins are minted by the Central Mint of China, both are run by the Central Bank. The NT$ 1⁄2 coin is rare because of its low value, while the NT$20 coin is rare because of the lack of willingness to promote it. As of 2010, the cost of the raw materials in a NT$ 1⁄2 coin was more than the value of the coin. 中華民國XX年 = Minguo XX. 中華民國 is also the state title Republic of China, 莫那魯道 = Mona Rudao, anti-Japanese leader at the Wushe Incident
40.
Russian ruble
–
The Russian ruble is the currency of the Russian Federation, the two partially recognized republics of Abkhazia and South Ossetia, and the two unrecognized republics of Donetsk and Luhansk. The ruble is subdivided into 100 kopeks, the ruble was the currency of the Russian Empire and of the Soviet Union. Today apart from Russia, Belarus and Transnistria uses currencies with the same name, the ruble was the worlds first decimal currency, it was decimalised in 1704 when the ruble became legally equal to 100 kopeks. In 1992 the Soviet ruble was replaced with the Russian ruble at the rate 1 SUR =1 RUR. In 1998 following the crisis, the Russian ruble was redenominated with the new code RUB. Today, although RUB being the code of the Russian ruble. The ruble is the oldest national currency after the Pound sterling in the world, the ruble has been used on the Russian territories since the 13th century. The modern Russian ruble actually appeared in December 1991 in parallel with the Soviet ruble, following the breakup of the Soviet Union in 1991, the Soviet ruble remained the currency of the Russian Federation until 1992. A new set of coins was issued in 1992 and a new set of banknotes was issued in the name of Bank of Russia in 1993. The Russian ruble with the ISO4217 code is RUR and number 810 replaced the Soviet ruble at the rate 1 SUR =1 RUR. After the fall of the Soviet Union, the Russian Federation introduced new coins in 1992 in denominations of 1,5,10,20,50 and 100 rubles, the coins depict the double-headed eagle without a crown, sceptre and globus cruciger above the legend Банк России. It is exactly the same eagle, that the artist Ivan Bilibin painted after the February Revolution as a coat of arms for the Russian Republic. The 1 and 5 ruble coins were minted in brass-clad steel, the 10 and 20 ruble coins in cupro-nickel, in 1993, aluminium-bronze 50 ruble coins and cupro-nickel-zinc 100 ruble coins were issued, and the material of 10 and 20 ruble coins s was changed to nickel-plated steel. In 1995 the material of 50 ruble coins was changed to brass-plated steel, as high inflation persisted, the lowest denominations disappeared from circulation and the other denominations became rarely used. During this period the commemorative one ruble coin was regularly issued and it was practically identical in size and weight to a 5 Swiss franc coin. For this reason, there have been instances of ruble coins being used on a large scale to defraud automated vending machines in Switzerland. In 1961, new State Treasury notes were introduced for 1,3 and 5 rubles, along with new State Bank notes for 10,25,50 and 100 rubles. In 1991, the State Bank took over production of 1,3 and 5 ruble notes and also introduced 200,500 and 1,000 ruble notes, although the 25 ruble note was no longer issued
41.
Afghan afghani
–
The afghani is the currency of Afghanistan. It is nominally subdivided into 100 pul, although there are no pul coins currently in circulation, the first afghani was introduced in 1925. In addition to being subdivided into 100 pul,20 afghani were equal to one amani, the rate of conversion from the rupee is sometimes quoted as 1 afghani =1 rupee 6 paisa, based on the silver contents of the last rupee coins and the first Afghani coins. The Afghani initially contained 9 grams of silver, except during World War I Afghanistans foreign exchange rate has been freely determined by market forces. Bank-e Milli agreed to exchange afghanis at 4 Afs against 1 Indian rupee in 1935, after the establishment of Da Afghanistan Bank as the Central Bank of Afghanistan, such a preferential official fixed exchange rate continued to be practiced. Since 2002, Da Afghanistan Bank has adopted a floating exchange rate regime and has let the exchange rate to be determined freely by market forces, ehsan accused the firm of sending new shipments of Afghani notes to ousted president Burhanuddin Rabbani in northern Takhar province. In April,2000, the afghani traded at 6400 AFA per USD, by 2002, the afghani was valued at 43,000 AFA per USD. In 1930, bronze and brass 1 and 25 pul were added, along with bronze 3 pul, in 1952, aluminium 25 pul and nickel-clad steel 50 pul were introduced, followed by aluminium 2 and 5 afghani in 1958. In 1961 nickel-clad steel 1,2 and 5 afghani were minted, the 1 and 2 afghani coins show years of SH1340, in 1973, the Republic of Afghanistan issued brass-clad-steel 25 pul, copper-clad steel 50 pul and cupro-nickel-clad steel 5 afghani coins. These were followed, between 1978 and 1980, by issues of the Democratic Republic of Afghanistan consisting of aluminium-bronze 25 and 50 pul, a number of commemorative coins were also issued by the Islamic State of Afghanistan between 1995 and 2001. Between 1925 and 1928, Treasury notes were introduced in denominations of 5,10 and 50 afghanis, in 1936,2,20 and 100 afghani notes were added. The Bank of Afghanistan took over paper money production in 1939, the 2 and 5 afghani notes were replaced by coins in 1958. In 1993,5000 and 10,000 afghani notes were introduced. A pothole cave or mouth of a shaft is said to be visible on the 10,000 afghanis banknote as a dark area in the hillside above the ancient pol or gateway at the ruins near Lashkar Gah. This is possibly the entrance to one of the man-made undergrounds at Qala-i-Bost, between October 7,2002, and January 2,2003, a new afghani was introduced with the ISO4217 code AFN. It replaced the previous afghani at two distinct rates. S. dollar, prior to the reissue, there were more than 15 trillion afghani in circulation after unrestrained printing under Taliban rule and during wars and occupation. This was in preparation for October 8 when all prices in the Afghan marketplace were to be specified in afghani. After depreciating during the last quarter of 2003/04, the afghani has been appreciating steadily and this appreciation, at a time of increasing inflation, appears to reflect a greater willingness by the population to use the afghani as a medium of exchange and as a store of value
42.
Bangladeshi taka
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The Bangladeshi taka is the currency of the Peoples Republic of Bangladesh. Issuance of banknotes ৳10 and larger is controlled by Bangladesh Bank, and for the ৳1, ৳2 and ৳5 banknotes, the most commonly used symbol for the taka is ৳ and Tk, used on receipts while purchasing goods and services. ৳1 is subdivided into 100 poisha, the word taka is derived from the Sanskrit term tangka, which was an ancient denomination for silver coins. In the region of Bengal, the term has always used to refer to currency. In the 14th century, Ibn Battuta noticed that people in the Bengal Sultanate referred to gold, the word taka in Bangla is also commonly used generically to mean any money, currency, or notes. Thus, colloquially, a person speaking in Bangla may use taka to refer to money regardless of what currency it is denominated in and this is also common in the Indian states of West Bengal and Tripura, where the official name of the Indian rupees is taka as well. Bangla was one of the two languages of the Pakistan union between 1956 and 1971. The Bangladeshi taka came into existence since 1972, a year after the independence of the wing of the union. During the war, it was a practice of some Bengali nationalists to protest Pakistani rule by stamping banknotes with বাংলা দেশ. On 8 June 1971, the Pakistani government declared that all banknotes bearing such stamps ceased to be legal tender, furthermore, to prevent looted high-denomination notes from disrupting the Pakistani economy, the government also withdrew the legal tender status of all 100- and 500-rupee notes. Some foreign publications mention that there were rubber stamp BANGLA DESH overprints on different denominations of Pakistani bank notes during the a. m. period, the first treasury notes in 1972 for ৳1 and notes of the Bangladesh Bank for ৳5, ৳10 and ৳100. In 1975, banknotes for ৳50 were introduced, followed by ৳500 in 1977, ৳1 treasury notes were issued until 1993, with ৳2 treasury notes introduced in 1989. ৳5 banknotes, previously issued by Bangladesh Bank, is now issued by the Government of Bangladesh, in 2000, the government issued polymer ৳10 notes as an experiment. They proved unpopular, however, and were withdrawn later, at present, the ৳1 and ৳5 notes are gradually being replaced with coins, and in 2008, the government issued ৳1,000 notes. In 2011, Bangladesh Bank began issuing a new series of banknotes denominated in ৳2, ৳5, ৳100, ৳500, and ৳1000. All are dated 2011 and feature a portrait and watermark of the Father of the Nation, Bangabandhu Sheikh Mujibur Rahman, from 2011, the Bangladesh Bank introduced new notes denominated in ৳10, ৳20, and ৳50 on 7 March 2012. The notes bear the portrait of Bangabandhu Sheikh Mujibur Rahman and the National Martyrs Monument in Savar on the front, in 2011, Bangladesh Bank also introduced a ৳40 note to commemorate the 40th Victory Anniversary of Bangladesh. The commemorative note features a portrait of the Father of the Nation, Bangabandhu Sheikh Mujibur Rahman and the National Martyrs Monument in Savar on front, curiously, this note has an electrotype 10 in the watermark, indicating it was likely printed on extra ৳10 banknote paper
43.
Bhutanese ngultrum
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The ngultrum is the currency of the Kingdom of Bhutan. It is subdivided into 100 chhertum, the Royal Monetary Authority of Bhutan is the minting authority of the Ngultrum banknotes and coins. The Ngultrum is currently pegged to the Indian rupee at par, until 1789, the coins of the Cooch Behar mint circulated in Bhutan. Following this, Bhutan began issuing its own known as chetrum. Hammered silver and copper coins were the only issued until 1929. Nickel ½ rupee coins were introduced in 1950, while the Cooch Behar mint coins circulated alongside Bhutans own coins, decimalization was introduced in 1957, when Bhutans first issue of coins denominated in naya paisa. The 1966 issues were 25 naya paisa,50 naya paisa and 1 rupee coins, while the Bhutanese government developed its economy in the early 1960s, monetization in 1968 led to the establishment of the Bank of Bhutan. As monetary reforms took place in 1974, the Ngultrum was officially introduced as 100 Chhetrum equal to 1 Ngultrum, the Ngultrum retained the peg to the Indian rupee at par, which the Bhutanese coins had maintained. The Ministry of Finance issued the first banknotes in 1974 denominated Nu.1, Nu.5, Nu,10, in 1974, aluminium Ch.5 and Ch.10, aluminium-bronze Ch.20 and cupro-nickel Ch.25 and Nu.1 were introduced. The Ch.5 was square and the Ch.10 was scallop-shaped, a new coinage was introduced in 1979, consisting of bronze Ch.5 and Ch.10, and cupro-nickel Ch.25 and Ch.50 and Nu.1 and Nu.3. Aluminium-bronze Ch.25 were also issued dated 1979, the Ch.5 and Ch.10 have largely ceased circulating. Currently coins are available in denominations of Ch20, Ch.25, Ch.50 and Nu.1. On June 2,1974, Nu.1, Nu.5 and Nu.10 notes were introduced by the Royal Government of Bhutan, followed by Nu.2, Nu.20, Nu.50, and Nu.100 in 1978. On August 4,1982, the Royal Monetary Authority of Bhutan Act was enacted, although the RMA didnt began actual operations until November 1,1983, and did not issue its own family of notes until 1986. In 2006, the Monetary Authority introduced its latest series of notes, with denominations of Nu.1, Nu.5, Nu.10, Nu.20, Nu.50, Nu.100, Nu.500, and Nu.1000. Royal Monetary Authority of Bhutan Economy of Bhutan Panish, Charles K, the American Numismatic Society, Museum Notes 17, New York 1971, p. 247-254 and plates XLVII-XLVIII. Oriental Numismatic Society, Information Sheet no 16, January 1977, rhodes, Nicholas, Coinage in Bhutan. Journal of Bhutan Studies. The Centre of Bhutan Studies, vol,1, Thimphu, Autumn,1999, p. 84-113
44.
Maldivian rufiyaa
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The Maldivian rufiyaa is the currency of the Maldives. The issuance of the currency is controlled by the Maldives Monetary Authority, the most commonly used symbols for the rufiyaa are MRF and Rf. The ISO4217 code for Maldivian rufiyaa is MVR, the rufiyaa is subdivided into 100 laari. The name rufiyaa is derived from the Sanskrit rupya. The midpoint of exchange rate is 12.85 rufiyaa per US dollar, the earliest form of currency used in the Maldives was cowry shells and historical accounts of travellers indicate that they were traded in this manner even during the 13th century. As late as 1344, Ibn Batuta 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, lārin were imported and traded as currency and this form of currency was used in the Persian Gulf, India, Ceylon and the Far East during this time. Historians agree that this new form of currency was most probably exchanged for cowry shells, the first Sultan to imprint his own seal onto this currency was Ghaazee Mohamed Thakurufaanu Al Auzam. The seal was much broader than the wires hence it was barely legible, the first known of coins were introduced by Sultan Ibrahim Iskandar. Compared to the forms of money, these coins were much neater. The coins were minted in the city of Malé, a fact which it acknowledged on the reverse. The legend King of Land and Sea, Iskandhar the Great is found on the edge, after this period, gold coins replaced the existing silver ones during the reign of Sultan Hassan Nooruddin in 1787. He used two different qualities of gold in his coins, one was called Mohoree and the other Baimohoree, how this gold was obtained is uncertain. Throughout the nineteenth and early centuries, bronze coins were issued denominated in laari. Sultan Mohamed Imaadhudheen IV introduced what historians believe to be the first machine struck coins and his successor Sultan Mohamed Shamshudeen III made the last of these coins,1 and 4 laari denominations, which were struck in the United Kingdom by Heatons Mint, Birmingham, England in 1913. Following the end of coin production specifically for the Maldives, the Sultanate came to use the Ceylonese rupee and this was supplemented in 1947 by issues of banknotes denominated in rufiyaa, equal in value to the rupee. In 1960, coins denominated in laari, now worth one hundredth of the rufiyaa, were introduced, in 1960, Sultan Mohamed Fareed I ordered coins from the Royal Mint in England. The new issue consisted of denominations of 1,2,5,10,25 and 50 laari
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