The Syrian pound or Syrian lira is the currency of Syria and is issued by the Central Bank of Syria. The pound is subdivided into 100 qirsh. Before 1947, the word qirsh was spelled with the initial Arabic letter غ, after which the word began with ق; until 1958, banknotes were issued with Arabic on French on the reverse. After 1958, English has been used on the reverses, hence the three different names for this currency. Coins used both Arabic and French until independence only Arabic; the standard abbreviation for the Syrian pound is SYP. On 5 December 2005, the selling rate quoted by the Commercial Bank of Syria was 48.4 SYP to the US dollar. A rate of about 50 pounds to one dollar has been usual in the early 2000s, but the exchange rate is subject to fluctuations. Since the start of the civil war in 2011, the pound's exchange rate has deteriorated falling from 47 SYP for US$1 in March 2011 to 515 SYP for US$1 in July 2017. During the period when Syria was a part of the Ottoman Empire, which lasted about 400 years, the Ottoman lira was its main currency.
Following the fall of the Ottoman Empire and the placing of Syria under a mandate, the Egyptian pound was used in the territories under French and British mandates, including Lebanon and Palestine. Upon taking Lebanon and Syria under its separate mandate, the French government sought to replace the Egyptian currency and granted a commercial bank, the Banque de Syrie, the authority to issue a currency for states under its new mandate; the pound was pegged at a value of 20 French francs. As the political status of Lebanon evolved, the Banque de Syrie, to act as the official bank for Lebanon and Syria, was renamed the Banque de Syrie et du Grand-Liban; the BSL issued the Lebanese-Syrian currency for 15 years, starting in 1924. Two years before the expiration of the 15-year period, the BSL split the Lebanese-Syrian currency into two separate currencies that could still be used interchangeably in either state. In 1939, the bank was renamed the Banque de du Liban. In 1941, the peg to the French franc was replaced by a peg to the British pound of 8.83125 Syrian pounds = 1 British pound, as a consequence of the occupation of Syria by British and Free French forces.
This rate was based on the pre-war conversion rate between the sterling. In 1946, following devaluation of the franc, the pound was pegged once again to the franc at a rate of 1 pound = 54.35 francs. In 1947, the U. S. dollar was adopted as the peg for the Syrian currency, with 2.19148 pounds = 1 dollar, a rate, maintained until 1961. The Lebanese and Syrian currencies split in 1948. From 1961, a series of official exchange rates were in operation, alongside a parallel, black market rate which reflected the true market rate for Syrian pounds in Jordan and Lebanon where there was a healthy trade in the Syrian currency; the market was allowed to flourish because everybody, including government and public sector companies, needed it. The black market rate diverged from the official rate in the 1980s. Most the currency was pegged to the IMF SDF; as a result of the Syrian Civil War, there has been a capital flight to nearby countries including Lebanon, Jordan and Turkey. Syria has been subject to sanctions imposed by the United States, the European Union and other countries.
As a result, the official exchange rate has deteriorated falling from 47 SYP for US$1 in March 2011 to 515 SYP for US$1 in July 2017. In 1921, cupro-nickel 1⁄2 qirsh coins were introduced, followed in 1926 by aluminium bronze 2 and 5 qirsh. In 1929, nickel-brass 1 qirsh and silver 10, 25 and 50 qirsha were introduced. Nickel-brass 1⁄2 qirsh were introduced 1935, followed by zinc 1 qirsh and aluminium-bronze 2½ qirsh in 1940. During the Second World War, brass 1 qirsh and aluminium 2 1⁄2 qirsh; these pieces were crudely undated. A new coinage was introduced between 1947 and 1948 in denominations of 2 1⁄2, 5, 10, 25 and 50 qirsha and 1 pound, with the 2 1⁄2, 5 and 10 qirush struck in cupro-nickel and the others in silver. Aluminium-bronze replaced cupro-nickel in 1960, with nickel replacing silver in 1968. In 1996, following high inflation, new coins were introduced in denominations of 1, 2, 5, 10 and 25 pounds, with the 25 pounds a bimetallic coin. In 2003 5, 10, 25 pound coins were issued, with latent images.
On December 26, 2018, the Central Bank of Syria introduced a 50 Syrian pounds coin for general circulation and to replace the banknote of said denomination. In 1919, the Banque de Syrie introduced notes for 5, 25 and 50 qirsha, 1 and 5 livres; these were followed, by notes for 1 qirsh and 10, 25, 50 and 100 livres. In 1925, the Banque de Syrie et du Grand-Liban began issuing notes and production of denominations below 25 qirsha ceased. Notes below 1 livre were not issued from 1930. In 1939, the issuing body again changed its name, to the Banque de Syrie et du Liban. Between 1942 and 1944, the government introduced notes for 10, 25 and 50 qirsha. In the early 1950s, undated notes were issued by the Institut d'Emission de Syrie in denominations of 1, 5, 10, 25, 50 and 100 livres, followed by notes dated 1955 for 10 and 25 livres; the Banque Centrale de Syrie took over paper money issuance in 1957, issuing the same denominations as the Institut d'Emission. In 1958, the French language was replaced by English.
Notes were issued for 1
The Turkish lira is the currency of Turkey and the self-declared Turkish Republic of Northern Cyprus. The lira, along with the related currencies of Europe and the Middle East, has its roots in the ancient Roman unit of weight known as the libra which referred to the Troy pound of silver; the Roman libra adoption of the currency spread it throughout Europe and the Near East, where it continued to be used into medieval times. The Turkish lira, the French livre, the Italian lira, the British pound are the modern descendants of the ancient currency; the Ottoman lira was introduced as the main unit of currency in 1844, with the former currency, kuruş, remaining as a 1⁄100 subdivision. The Ottoman lira remained in circulation until the end of 1927. Historical banknotes from the second and fourth issues have portraits of İsmet İnönü on the obverse side; this change was done according to the 12 January 1926 issue of the official gazette and canceled by the Democrat Party after World War II. After periods of the lira pegged to the British pound and the French franc, a peg of 2.8 Turkish lira = 1 U.
S. dollar was adopted in 1946 and maintained until 1960, when the currency was devalued to 9 Turkish lira = 1 dollar. From 1970, a series of hard soft pegs to the dollar operated as the value of the Turkish lira began to fall. 1966 – 1 U. S. dollar = 9 Turkish lira 1980 – 1 U. S. dollar = 90 Turkish lira 1988 – 1 U. S. dollar = 1,300 Turkish lira 1995 – 1 U. S. dollar = 45,000 Turkish lira 2001 – 1 U. S. dollar = 1,650,000 Turkish liraThe Guinness Book of Records ranked the Turkish lira as the world's least valuable currency in 1995 and 1996, again from 1999 to 2004. The Turkish lira had slid in value so far that one original gold lira coin could be sold for 154,400,000 Turkish lira before the 2005 revaluation. In December 2003, the Grand National Assembly of Turkey passed a law that allowed for redenomination by the removal of six zeros from the Turkish lira, the creation of a new currency, it was introduced on 1 January 2005, replacing the previous Turkish lira at a rate of 1 second Turkish lira = 1,000,000 first Turkish lira.
With the revaluation of the Turkish lira, the Romanian leu became the world's least valued currency unit. At the same time, the Government introduced two new banknotes with the denominations of 50 and 100. In the transition period between January 2005 and December 2008, the second Turkish lira was called Yeni Türk lirası, it was abbreviated "YTL" and subdivided into 100 new kuruş. Starting in January 2009, the "new" marking was removed from the second Turkish lira, its official name becoming just "Turkish lira" again, abbreviated "TL". All obverse sides of current banknotes have portraits of Mustafa Kemal Atatürk; until 2016, the same held for the reverse sides of all current coins, but in 2016 one-lira coins were issued to commemorate the "martyrs and veterans" of the 2016 Turkish coup d'état attempt, the reverse sides of some of which depict hands holding up a Turkish flag while others show in stylized form a collection of five-pointed stars topped by a Turkish flag. From 1 January 2009, the phrase "new" was removed from the second Turkish lira, its official name in Turkey becoming just "Turkish lira" again.
The center and ring alloys of the 50 kuruş and 1 Turkish lira coins were reversed. A new series of banknotes, the "E-9 Emission Group" entered circulation on 1 January 2009, with the E-8 group ceasing to be valid after 31 December 2009; the E-9 banknotes refer to the currency as "Turkish lira" rather than "new Turkish lira" and include a new 200-Turkish-lira denomination. The new banknotes have different sizes to prevent forgery; the main specificity of this new series is that each denomination depicts a famous Turkish personality, rather than geographical sites and architectural features of Turkey. The dominant color of the 5-Turkish-lira banknote has been determined as "purple" on the second series of the current banknotes. In 2018, the lira's exchange rate accelerated deterioration, reaching a level of 4.5 USD/TRY by mid-May and of 4.9 a week later. Among economists, the accelerating loss of value was attributed to Recep Tayyip Erdoğan preventing the Central Bank of the Republic of Turkey from making the necessary interest rate adjustments.
Erdoğan, who claimed interest rates beyond his control to be "the mother and father of all evil", said that "the central bank can't take this independence and set aside the signals given by the president." Despite Erdogan's apparent opposition, Turkey's Central Bank raised interest rates sharply. In the campaign for the 2018 general election in Turkey, a widespread conspiracy theory claimed that the Turkish lira's decline were the work of a shadowy group, made up of Americans, Dutch and "some Jewish families" who would want to deprive incumbent President Erdogan of support in the elections. According to a poll from April 2018, 42 percent of Turks, 59 percent of governing AK Party voters, saw the decline in the lira as a plot by foreign powers. According to Turkish foreign minister Mevlüt Çavuşoğlu and analysis, Trumps wish to let the Turkish-USA current tensions to long up to the November 2018 US elections so to appeal to his christian base and gain some points for his party; the current currency
House of Bourbon
The House of Bourbon is a European royal house of French origin, a branch of the Capetian dynasty. Bourbon kings first ruled Navarre in the 16th century. By the 18th century, members of the Spanish Bourbon dynasty held thrones in Spain, Naples and Parma. Spain and Luxembourg have monarchs of the House of Bourbon; the royal Bourbons originated in 1272, when the youngest son of King Louis IX married the heiress of the lordship of Bourbon. The house continued for three centuries as a cadet branch, serving as nobles under the Direct Capetian and Valois kings; the senior line of the House of Bourbon became extinct in the male line in 1527 with the death of Charles III, Duke of Bourbon. This made the junior Bourbon-Vendome branch the genealogically senior branch of the House of Bourbon. In 1589, at the death of Henry III of France, the House of Valois became extinct in the male line. Under the Salic law, the Head of the House of Bourbon, as the senior representative of the senior-surviving branch of the Capetian dynasty, became King of France as Henry IV.
Bourbon monarchs united to France the small kingdom of Navarre, which Henry's father had acquired by marriage in 1555, ruling both until the 1792 overthrow of the monarchy during the French Revolution. Restored in 1814 and definitively in 1815 after the fall of the First French Empire, the senior line of the Bourbons was overthrown in the July Revolution of 1830. A cadet Bourbon branch, the House of Orléans ruled for 18 years, until it too was overthrown; the Princes de Condé were a cadet branch of the Bourbons descended from an uncle of Henry IV, the Princes de Conti were a cadet line of the Condé branch. Both houses were prominent French noble families well known for their participation in French affairs during exile in the French Revolution, until their respective extinctions in 1830 and 1814. In 1700, at the death of Charles II of Spain, the Spanish Habsburgs became extinct in the male line. Under the will of the childless Charles II, the second grandson of Louis XIV of France was named as his successor, to preclude the union of the thrones of France and Spain.
The prince Duke of Anjou, became Philip V of Spain. Permanent separation of the French and Spanish thrones was secured when France and Spain ratified Philip's renunciation, for himself and his descendants, of the French throne in the Treaty of Utrecht in 1714, similar arrangements kept the Spanish throne separate from those of the Two Sicilies and Parma; the Spanish House of Bourbon has been overthrown and restored several times, reigning 1700–1808, 1813–1868, 1875–1931, since 1975. Bourbons ruled in Naples from 1734 to 1806 and in Sicily from 1734 to 1816, in a unified Kingdom of the Two Sicilies from 1816 to 1860, they ruled in Parma from 1731 to 1735, 1748–1802 and 1847–1859. Charlotte, Grand Duchess of Luxembourg married a cadet of the Parmese line and thus her successors, who have ruled Luxembourg since her abdication in 1964, have been members of the House of Bourbon. Isabel, Princess Imperial of Brazil, regent for her father, Pedro II of the Empire of Brazil, married a cadet of the Orléans line and thus their descendants, known as the Orléans-Braganza, were in the line of succession to the Brazilian throne and expected to ascend its throne had the monarchy not been abolished by a coup in 1889.
All legitimate, living members of the House of Bourbon, including its cadet branches, are direct agnatic descendants of Henry IV through his son Louis XIII of France. The pre-Capetian House of Bourbon was a noble family, dating at least from the beginning of the 13th century, when the estate of Bourbon was ruled by the Sire de Bourbon, a vassal of the King of France; the term House of Bourbon is sometimes used to refer to this first house and the House of Bourbon-Dampierre, the second family to rule the seigneury. In 1272, Count of Clermont and youngest son of King Louis IX of France, married Beatrix of Bourbon, heiress to the lordship of Bourbon and member of the House of Bourbon-Dampierre, their son Louis was made Duke of Bourbon in 1327. His descendant, the Constable of France Charles de Bourbon, was the last of the senior Bourbon line when he died in 1527; because he chose to fight under the banner of Holy Roman Emperor Charles V and lived in exile from France, his title was discontinued after his death.
The remaining line of Bourbons henceforth descended from James I, Count of La Marche, the younger son of Louis I, Duke of Bourbon. With the death of his grandson James II, Count of La Marche in 1438, the senior line of the Count of La Marche became extinct. All future Bourbons would descend from James II's younger brother, who became the Count of Vendôme through his mother's inheritance. In 1525, at the death of Charles IV, Duke of Alençon, all of the princes of the blood royal were Bourbons. In 1514, Count of Vendôme had his title raised to Duke of Vendôme, his son Antoine became King of Navarre, on the northern side of the Pyrenees, by marriage in 1555. Two of Antoine's younger brothers were Cardinal Archbishop Charles de Bourbon and the French and Huguenot general Louis de Bourbon, 1st Prince of Condé. Louis' male-line descendants, the Princes de Condé, survived until 1830. In 1589, the House of Valois died out and Antoine's son Henry III of Navarre became Henry IV of France. Family from India's claim to be a branch and their claim to The "Throne of France" Bourbons of India, claim to be descendants of Charles III, Duke of Bourbon, of the first House of Bourbon-Montpensier.
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The Biafran pound was the currency of the breakaway Republic of Biafra between 1968 and 1970. The first notes denominated in 5 shillings and £1 were introduced on January 29, 1968. A series of coins was issued in 1969. In February 1969, a second family of notes was issued consisting of 5 shilling, 10 shilling, £1, £5 and £10 denominations. Despite not being recognised as currency by the rest of the world when they were issued, the banknotes were afterwards sold as curios and are now traded among banknote collectors at well above their original nominal value; the most common note is the 1968 and 1969 1 pound notes, with the 10 pound note and all coins being rare. Nigerian pound Nigerian naira Postage stamps and postal history of Biafra Banknotes of Biafra."Archived copy". Archived from the original on 2011-06-29. Retrieved 2006-01-13. CS1 maint: Archived copy as title CS1 maint: BOT: original-url status unknown Coins with Nigerian naira Information from Biafraland. A detailed article on the banknotes of the Biafran pound pjsymes.com.au Coins from Biafra - Online Coin Club
The Sudanese pound (Arabic: جنيه سوداني is the basic unit of the Sudanese currency. The pound consists of 100 piasters; the pound is issued by the Central Bank of Sudan. Its value is linked to gold and convertible into foreign currencies. There are no restrictions on money transfers to and from Sudan; the Sudanese pound is equivalent to $0.021. It has been pegged to the United States dollar since around 1984; the pound fell for the first time since 1997 after the United States imposed economic sanctions on Sudan. The Sudanese pound continued its decline to an unprecedented number, falling to 53 pounds against the dollar; this situation, which drained all economic measures, led to heavy losses in the external repercussions of the Sudan as a whole, in the light of the government cut, interrupted by some of the failed actions announced by the Central Bank of Sudan, a severe shortage of liquidity. The Sudanese pound fell against the US dollar after the Central Bank of Sudan announced the lifting of the cash reserve to counter inflation.
Since the Secession of South Sudan in 2011, Sudan has suffered from a scarcity of foreign exchange for the loss of three quarters of its oil resources and 80% of foreign exchange resources. The Sudanese government quoted the official price of the dollar from 6.09 pounds to 18.07 pounds in the budget of 2018. The first pound to circulate in Sudan was the Egyptian pound; the late 19th century rebels Muhammad ibn Abdalla and Abdallahi ibn Muhammad both issued coins which circulated alongside the Egyptian currency. When Anglo-Egyptian rule in Sudan ceased on January 1, 1956 and Sudan became an independent country, a distinct Sudanese currency was created, replacing the Egyptian pound at par; the Egyptian pound was subdivided into 100 qirush. The qirsh used to be subdivided into 40 para, but decimalisation following the 1886 Egyptian currency reform established a 1/10 qirsh, which came to be known as a millim. Due to this legacy, the post 1956 Sudanese pound was divided into 100 qirush, subdivided into 10 millims.
During 1958-1978 the pound was pegged to the U. S. dollar at a rate of $2.87156 per Sudanese pound. Thereafter, the pound underwent successive devaluations; the pound was replaced in 1992 by the dinar at a rate of 1 dinar. While the dinar circulated in northern Sudan, in Southern Sudan, prices were still negotiated in pounds, whilst in Rumbek and Yei, the Kenyan shilling was used and accepted more within the transport sectors as well as for hotels/accommodation. According to the Comprehensive Peace Agreement between the government of the Republic of the Sudan and the Sudan People's Liberation Movement, the Central Bank of Sudan shall adopt a program to issue a new currency as soon as is practical during the Interim Period; the design of the new currency shall reflect the cultural diversity of Sudan. Until a new currency has been issued with the approval of the Parties on the recommendations of the CBOS, the circulating currencies in Southern Sudan shall be recognised; the second pound began introduction on 9 or 10 January 2007, became the only legal tender as of July 1, 2007.
It replaced the dinar at a rate of 1 pound = 1000 pounds. The third edition of the Sudanese pound was established on 24 July 2011 following the secession of South Sudan from the Republic of Sudan. For a wider history surrounding currency in the region, see The History of British Currency in the Middle East. In 1885, the Mahdi issued 20 qirush and gold 100 qirush; these were followed by issues of the Khalifa in denominations of 10 para, 1, 2, 2½, 4, 5, 10 and 20 qirush. These coins were minted in silver in 1885. Over the following eleven years, severe debasement occurred, leading to billon silver-washed copper and copper coins being issued; the coinage ceased in 1897. During 1908-1914, a local coinage was issued in Darfur in western Sudan; these were issued under the authority of resembled contemporary Egyptian coins. In 1956, coins were introduced in denominations of 2, 5 and 10 millim, 2, 5 and 10 qirush; the millim denominations were struck in bronze, whilst the qirush denominations were in cupro-nickel.
The 2, 5 and 10 millim were scallop shaped, although a round 5 millim was introduced in 1971. The 1 and 2 millim were last struck in 1969, the last 5 millim in 1978. In 1983, brass 1, 2 and 5 qirush, a reduced size 10 qirush and a cupro-nickel 20 qirush were introduced. In 1987, aluminium-bronze 1, 5, 10, 20, 25 and 50 qirush and 1 pound were introduced, with the 25 and 50 qirush square and octagonal in shape, respectively. In 1989, stainless-steel 25 and 50 qirush and 1 pound were issued; this is the general pattern, in addition to these coins there are collector-oriented issues and various oddities. See popular coin catalogues for details. See Sudanese dinar. Coins in denominations of 1, 5, 10, 20 and 50 qirush were introduced alongside the circulating dinar coins; the Central Bank of Sudan states that the 5 qirush coins are yellow coloured and the 10 qirush is silver coloured. The 20 and 50 qirush coins are bi-metallic, with the 20 qirush yellow ringed with a silver coloured centre and the 50 qirush the opposite.
This is thought to be in development. In April 1957, the Sudan Currency Board introduced notes for 1, 5 and 10 pounds. Note production was taken over by the Bank of Sudan in 1961. 20-pound notes were introduced in 1981, followed by 50 pounds in 1984 and 100 pounds in 1988.. When introduced on 8 June 1992, the Sudanese dinar replaced the first Sudanese pound at a rate of 1:10. In 2005, the National Public Rad
A currency, in the most specific sense is money in any form when in use or circulation as a medium of exchange circulating banknotes and coins. A more general definition is that a currency is a system of money in common use for people in a nation. Under this definition, US dollars, pounds sterling, Australian dollars, European euros, Russian rubles and Indian Rupees are examples of currency; these various currencies are recognized as stores of value and are traded between nations in foreign exchange markets, which determine the relative values of the different currencies. Currencies in this sense are defined by governments, each type has limited boundaries of acceptance. Other definitions of the term "currency" are discussed in their respective synonymous articles banknote and money; the latter definition, pertaining to the currency systems of nations, is the topic of this article. Currencies can be classified into two monetary systems: fiat money and commodity money, depending on what guarantees the currency's value.
Some currencies are legal tender in certain political jurisdictions. Others are traded for their economic value. Digital currency has arisen with the popularity of the Internet. Money was a form of receipt, representing grain stored in temple granaries in Sumer in ancient Mesopotamia and in Ancient Egypt. In this first stage of currency, metals were used as symbols to represent value stored in the form of commodities; this formed the basis of trade in the Fertile Crescent for over 1500 years. However, the collapse of the Near Eastern trading system pointed to a flaw: in an era where there was no place, safe to store value, the value of a circulating medium could only be as sound as the forces that defended that store. A trade could only reach as far as the credibility of that military. By the late Bronze Age, however, a series of treaties had established safe passage for merchants around the Eastern Mediterranean, spreading from Minoan Crete and Mycenae in the northwest to Elam and Bahrain in the southeast.
It is not known what was used as a currency for these exchanges, but it is thought that ox-hide shaped ingots of copper, produced in Cyprus, may have functioned as a currency. It is thought that the increase in piracy and raiding associated with the Bronze Age collapse produced by the Peoples of the Sea, brought the trading system of oxhide ingots to an end, it was only the recovery of Phoenician trade in the 10th and 9th centuries BC that led to a return to prosperity, the appearance of real coinage first in Anatolia with Croesus of Lydia and subsequently with the Greeks and Persians. In Africa, many forms of value store have been used, including beads, ivory, various forms of weapons, the manilla currency, ochre and other earth oxides; the manilla rings of West Africa were one of the currencies used from the 15th century onwards to sell slaves. African currency is still notable for its variety, in many places, various forms of barter still apply; these factors led to the metal itself being the store of value: first silver both silver and gold, at one point bronze.
Now we have other non-precious metals as coins. Metals were mined and stamped into coins; this was to assure the individual accepting the coin that he was getting a certain known weight of precious metal. Coins could be counterfeited, but the existence of standard coins created a new unit of account, which helped lead to banking. Archimedes' principle provided the next link: coins could now be tested for their fine weight of metal, thus the value of a coin could be determined if it had been shaved, debased or otherwise tampered with. Most major economies using coinage had several tiers of coins of different values, made of copper and gold. Gold coins were the most valuable and were used for large purchases, payment of the military and backing of state activities. Units of account were defined as the value of a particular type of gold coin. Silver coins were used for midsized transactions, sometimes defined a unit of account, while coins of copper or silver, or some mixture of them, might be used for everyday transactions.
This system had been used in ancient India since the time of the Mahajanapadas. The exact ratios between the values of the three metals varied between different eras and places. However, the rarity of gold made it more valuable than silver, silver was worth more than copper. In premodern China, the need for credit and for a medium of exchange, less physically cumbersome than large numbers of copper coins led to the introduction of paper money, i.e. banknotes. Their introduction was a gradual process which lasted from the late Tang dynasty into the Song dynasty, it began as a means for merchants to exchange heavy coinage for receipts of deposit issued as promissory notes by wholesalers' shops. These notes were valid for temporary use in a small regional territory. In the 10th century, the Song dynasty government began to circulate these notes amongst the traders in its monopolized salt industry; the Song government granted several shops the right to issue banknotes, in the early 12th century the government took over these shops to produce state-issued currency.
Yet the banknotes issued w
Duchy of Parma
The Duchy of Parma was created in 1545 from that part of the Duchy of Milan south of the Po River, conquered by the Papal States in 1512. These territories, centered on the city of Parma, were given as a fief for Pope Paul III's illegitimate son, Pier Luigi Farnese. In 1556, the second Duke, Ottavio Farnese, was given the city of Piacenza, becoming thus Duke of Piacenza, so the state was thereafter properly known as the Duchy of Parma and Piacenza; the Farnese family continued to rule until their extinction in 1731, when the duchy was inherited by the young son of the King of Spain, Don Charles, whose mother Elizabeth Farnese was the Farnese heiress. He ruled until 1735 during the War of the Polish Succession, when Parma was ceded to Emperor Charles VI in exchange for the Two Sicilies; the Habsburgs only ruled until the conclusion of the Treaty of Aix-la-Chapelle in 1748, when it was ceded back to the Bourbons in the person of Don Philip, Don Charles's younger brother, who received the little Duchy of Guastalla.
As Duke Philip, he became the founder of the House of Bourbon-Parma reigning over the Duchy of Parma and Guastalla. In 1796, the duchy was occupied by French troops under Napoleon Bonaparte, the political situation of the State became confused. Duke Ferdinand maintained his throne under French military governors until the Treaty of Aranjuez of 1801, when a general agreement between the House of Bourbon and Napoleon formally decided the cession of the duchy to France in exchange for Tuscany, but the Duke lasted in Parma until he died in 1802. Napoleon was undecided about the future of the duchy, aspiring to a total engagement of the Bourbons in the European wars as his allies; as French laws and administration were introduced, the formal annexation to the French Empire was declared only in 1808 after the outbreak of the conflict against Bourbonic Spain. The duchy was reformed as the département of Taro. In 1814, the duchies were given to Napoleon's Habsburg wife, Marie-Louise, styled Maria-Luigia, who ruled them for the rest of her life.
After Maria-Luigia's death in 1847, the Duchy was restored to the Bourbon-Parma line, ruling the tiny Duchy of Lucca. Guastalla was ceded to Modena; the Bourbons ruled until 1859, when they were driven out by a revolution following the French and Sardinian victory in the war against Austria. The Duchy of Parma and Piacenza joined with the Grand Duchy of Tuscany and the Duchy of Modena to form the United Provinces of Central Italy in December 1859, merged with the Kingdom of Sardinia into the Kingdom of Italy in March 1860 after holding a referendum; the House of Bourbon continues to claim the title of duke of Parma to this day. Prince Carlos of Bourbon-Parma has held the title since 2010. County of Guastalla Historical states of Italy House of Farnese House of Bourbon-Parma List of Dukes of Parma Pauline Bonaparte Pretenders to the throne of Parma Flags of Parma Constitution of 1848 Murphy, Orville Theodore. Charles Gravier, Comte de Vergennes: French diplomacy in the age of revolution, 1719–1787.
SUNY Press. ISBN 978-0-87395-482-2. Retrieved 21 February 2011. Alessandro Cont, Il potere della tradizione. Guillaume Du Tillot e la questione della nobiltà, "Nuova Rivista Storica", 100, 1, pp. 73–106