1.
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
2.
Cent (currency)
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In many national currencies, the cent, commonly represented by the cent sign is a monetary unit that equals 1⁄100 of the basic monetary unit. Etymologically, the word cent derives from the Latin word centum meaning hundred, cent also refers to a coin worth one cent. In the United States and Canada, the 1¢ coin is known by the nickname penny, alluding to the British coin. In Ireland the 1c coin is sometimes known as a penny in reference to the Irish penny. A cent is commonly represented by the cent sign, a letter c crossed by a diagonal stroke or a vertical line, ¢, or a simple c. Cent amounts from 1 cent to 99 cents can be represented as one or two digits followed by the abbreviation, or as a subdivision of the base unit. The cent sign has not survived the changeover from typewriters to computer keyboards, for the US International keyboard, <Right Alt> <Shift> c. On Macintosh systems, hold ⌥ Option and press 4 on the number row, on Unix/Linux systems with a compose key, Compose+|+C is a typical sequence. The cent sign has Unicode code point, U+00A2 ¢ cent sign, usage of the cent symbol varies from one currency to another. In the United States, Canada and Mexico, the usage ¢ is more common, while in Australia, New Zealand and the eurozone, in South Africa and Ireland, only the c is used. When written in English, the cent sign follows the amount, in contrast with a currency symbol. For example, 2¢ and $0.02, or 2c, greek coins have ΛΕΠΤΟ on the obverse of the one-cent coin and ΛΕΠΤΑ on the obverse of the others. Actual usage varies depending on language, South Korean Won no fractional denomination in circulation, formerly divided into 100 jeon
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.
Dollar sign
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The dollar sign is a symbol primarily used to indicate the various units of currency around the world. The symbol can interchangeably have one or two vertical strokes, note that the two-stroked version is not the same symbol as the cifrão. In common usage, the sign appears to the left of the amount specified, the best documented explanation holds that the sign evolved out of the Spanish and Spanish American scribal abbreviation pˢ for pesos. A study of late eighteenth- and early nineteenth-century manuscripts shows that the s gradually came to be written over the p, a variation, though less plausible, of this hypothesis derives the sign from a combination of the Greek character psi and S. There are a number of hypotheses about the origin of the symbol, some with a measure of academic acceptance. Kingdom of Sicily Denaro minted in the Kingdom in Sicily at least by 1258–1266 had what could be construed as a dollar symbol. These coins were widely circulated due to the Crusades – and specifically the Crusade that targeted Tunis, several alternative hypotheses relate specifically to the dollar sign drawn with two vertical lines. A common hypothesis holds that the sign derives from the Spanish coat of arms, in 1492, Ferdinand II of Aragon adopted the symbol of the Pillars of Hercules and added the Latin warning Non plus ultra meaning nothing further beyond, indicating this is the end of the world. But when Christopher Columbus came to America, the legend was changed to Plus ultra, the Pillars of Hercules wrapped in a banner thus became a symbol of the New World. In this example the right-hand pillar clearly resembles the dollar sign, the symbol was adopted by Charles V and was part of his coat of arms representing Spains American possessions. The symbol was later stamped on coins minted in gold and silver, the coin, also known as Spanish dollar, was the first global currency used in the entire world since the Spanish Empire was the first global Empire. These coins, depicting the pillars over two hemispheres and a small S-shaped ribbon around each, were spread throughout America, Europe and Asia. According to this, traders wrote signs that, instead of saying Spanish dollar, had this made by hand. When the US got independence from the UK, they created the American dollar, a dollar sign with two vertical lines could have started off as a monogram of USA, used on money bags issued by the United States Mint. The letters U and S superimposed resemble the historical double-stroke dollar sign, robert Morris was such a zealous patriot – known as the Financier of the Revolution in the West – that conjecture does not overstep its bounds in purporting this hypothesis as viable. A similar idea claims that the letters U and S would stand for unit of silver, referencing pieces of eight again, another hypothesis is that it derives from the symbol used on a German Thaler. This refers to the Bible, Numbers, Chapter 21, a similar symbol, constructed by superposition of S and I or J, was used to denote German Joachimsthaler. It was known in the English-speaking world by the 17th century, robert Morris was the first to use that symbol in official documents and in official communications with Oliver Pollock
5.
Suriname
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Suriname, officially known as the Republic of Suriname, is a sovereign state on the northeastern Atlantic coast of South America. It is bordered by French Guiana to the east, Guyana to the west, at just under 165,000 square kilometers, it is the smallest country in South America. Suriname has a population of approximately 566,000, most of live on the countrys north coast, in and around the capital and largest city. Long inhabited by cultures of indigenous tribes, Suriname was explored and contested by European powers before coming under Dutch rule in the late 17th century. In 1954, the country one of the constituent countries of the Kingdom of the Netherlands. Its indigenous peoples have been active in claiming land rights and working to preserve their traditional lands. Suriname is considered to be a culturally Caribbean country, and is a member of the Caribbean Community, while Dutch is the official language of government, business, media, and education, Sranan, an English-based creole language, is a widely used lingua franca. Suriname is the territory outside Europe where Dutch is spoken by a majority of the population. The people of Suriname are among the most diverse in the world, spanning a multitude of ethnic, religious, and linguistic groups. This area was occupied by cultures of indigenous peoples long before European contact, remnants of which can be found in petroglyph sites at Werehpai. The name Suriname may derive from a Taino indigenous people called Surinen, British settlers, who founded the first European colony at Marshalls Creek along the Suriname River, spelled the name as Surinam. When the territory was taken over by the Dutch, it part of a group of colonies known as Dutch Guiana. The official spelling of the countrys English name was changed from Surinam to Suriname in January 1978, a notable example is Surinames national airline, Surinam Airways. The older English name is reflected in the English pronunciation, /ˈsʊrᵻnæm/ or /ˈsʊrᵻnɑːm/, in Dutch, the official language of Suriname, the pronunciation is, with the main stress on the third syllable and a schwa terminal vowel. Indigenous settlement of Suriname dates back to 3,000 BC, the largest tribes were the Arawak, a nomadic coastal tribe that lived from hunting and fishing. They were the first inhabitants in the area, the Carib also settled in the area and conquered the Arawak by using their superior sailing ships. They settled in Galibi at the mouth of the Marowijne River, while the larger Arawak and Carib tribes lived along the coast and savanna, smaller groups of indigenous peoples lived in the inland rainforest, such as the Akurio, Trió, Warrau, and Wayana. Beginning in the 16th century, French, Spanish, and English explorers visited the area, a century later, Dutch and English settlers established plantation colonies along the many rivers in the fertile Guiana plains
6.
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
7.
Central Bank of Suriname
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The Central Bank of Suriname is Suriname’s highest monetary authority and the country’s governing body in monetary and economic affairs. The Central Bank’s tasks were legislated in the Bank Act of 1956, like other central banks, it is the principal monetary authority of the country. The Central Bank is headed by a Governor and divided into three directorates, Banking Operations, Monetary and Economic Affairs and Supervision. Until 1957, De Surinaamsche Bank, which at time was a subsidiary of the Dutch Nederlandsche Handel-Maatschappij. Surinamese dollar Economy of Suriname Economy of the Caribbean Economy of South America Central banks and currencies of the Caribbean Official site, Central Bank of Suriname
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.
Dollar
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Dollar is the name of more than twenty currencies, including those of the United States, Canada, Australia, Taiwan, Hong Kong, Singapore, New Zealand, Liberia, Jamaica and Namibia. Generally, one dollar is divided into one hundred cents, on 15 January 1520, the Czech Kingdom of Bohemia began minting coins from silver mined locally in Joachimsthal and marked on reverse with the Czech lion. The coins were called joachimsthaler, which became shortened in common usage to thaler or taler, the German name Joachimsthal literally means Joachims valley or Joachims dale. A later Dutch coin also depicting a lion was called the leeuwendaler or leeuwendaalder, the Dutch Republic produced these coins to accommodate its booming international trade. The leeuwendaler circulated throughout the Middle East and was imitated in several German and Italian cities and this coin was also popular in the Dutch East Indies and in the Dutch New Netherland Colony. It was in throughout the Thirteen Colonies during the 17th. The currencies of Romania and Bulgaria are, to this day, the modern American-English pronunciation of dollar is still remarkably close to the 17th century Dutch pronunciation of daler. Some well-worn examples circulating in the Colonies were known as dog dollars, Spanish pesos – having the same weight and shape – came to be known as Spanish dollars. By the time of the American Revolution, Spanish dollars gained significance because they backed paper money authorized by the individual colonies, common in the Thirteen Colonies, Spanish dollars were even legal tender in one colony, Virginia. On April 2,1792, U. S. Secretary of the Treasury Alexander Hamilton reported to Congress the precise amount of found in Spanish dollar coins in common use in the states. As a result, the United States dollar was defined as a unit of silver weighing 371 4/16th grains. It was specified that the money of account of the United States should be expressed in those same dollars or parts thereof, in an act passed in January 1837, the dollars alloy was set at 15%. Subsequent coins would contain the amount of pure silver as previously. On February 21,1853, the quantity of silver in the coins was reduced. However, the dollars constitutional meaning has remained unchanged through the years, silver was mostly removed from U. S. coinage by 1965 and the dollar became a free-floating fiat currency without a commodity backing defined in terms of real gold or silver. The US Mint continues to make silver $1-denomination coins, but these are not intended for general circulation, there are many quotes in the plays of William Shakespeare referring to dollars as money. This might be supported by a reference to the sum of ten dollars in Macbeth. In 1804, a British five-shilling piece, or crown, was sometimes called dollar and it was an overstruck Spanish eight real coin, the original of which was known as a Spanish dollar
10.
Surinamese guilder
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The guilder was the currency of Suriname until 2004, when it was replaced by the Surinamese dollar. It was divided into 100 cents, until the 1940s, the plural in Dutch was cents, with centen appearing on some early paper money, but after the 1940s the Dutch plural became cent. The Surinamese guilder was initially at par with the Dutch guilder, in 1940, following the occupation of the Netherlands, the currency was tied to the U. S. dollar at a rate of 1.88585 guilders =1 dollar. The Surinamese guilder suffered from inflation in the beginning of the 1990s. It was replaced by the Surinamese dollar on 1 January 2004 at a rate of 1 dollar =1000 guilders, to save cost of manufacturing, coins of less than 5 guilders were made legal for their face value in the new currency. Thus, these coins increased their power by 1000 fold overnight. Until 1942, Dutch coins circulated in Suriname, starting that year, coins were minted in the United States for use in Netherlands Guiana, some of which also circulated in the Netherlands Antilles. These coins were in denominations of 1,5,10 and 25 cents, in 1962, coins were introduced bearing the name Suriname for the first time. These were in denominations of 1,5,10 and 25 cents and 1 guilder, the 1 cent was bronze, the 5 cent nickel-brass, the 10 and 25 cents were cupro-nickel and the 1 guilder was silver. Aluminium 1 and 5 cent coins were introduced in 1974 and 1976, in 1987, copper-plated steel replaced aluminium in the 1 and 5 cent coins and cupro-nickel 100 and 250 cent coins were introduced. In 1826, the Algemene Nederlandsche Maatschappij issued ½ and 3 guilder notes and these were followed in 1829 by notes of the West Indies Bank in denominations of 1⁄2,1,2,3,5,10 and 50 guilders. The Bank introduced 10,15 and 25 centen and 25 guilder notes in 1837, the government issued silver certificates between 1918 and 1920 for 1⁄2,1 and 2 1⁄2 guilders. Further issues for 50 cent and 1 guilder were introduced in 1940, the 50 cent coin was issued until 1942, with 2 1⁄2 guilders introduced in 1950. The silver certificates were superseded in 1960 by muntbiljet for 1 and 2 1⁄2 guilders, in 1957, the Central Bank of Suriname took over paper money production, issuing notes for 5,10,25,100 and 1000 guilders. 500 guilder notes were introduced in 1982, followed by 250 guilders in 1988,2000 guilder notes were introduced in 1995, followed by 5000 and 10,000 guilders in 1997 and 25,000 guilders in 2000. The last series of banknotes was introduced in 2000 in denominations of 5,10,25,100,500,1000,5000,10,000 and 25,000 guilders and this colorful issue has native birds on the fronts and native flowers on the backs. Economy of Suriname Media related to Surinamese guilder at Wikimedia Commons
11.
Canadian Bank Note Company
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The Canadian Bank Note Company is a Canadian security printing company. It is best known for holding the contract with the Bank of Canada to supply it with Canadas banknotes, the companys other clients include private businesses, national and sub-national governments, central banks, and postal services from around the world. In addition to notes, the company produces passports, drivers licences, birth certificates, postage stamps, coupons. It also prints and provides document reading systems for identification cards, lottery tickets, stamps, from 1897 until 1923, CBN was a unit of the New York-based American Bank Note Company. It has since been based in Ottawa, Ontario, in October 2006, RR Donnelley completed acquisition of Canadian Bank Notes financial printing business, consisting of documentation for initial public offerings. Since 2014, the Canadian Bank Note Company has been the chief-provider for machine readable passports used within the Caribbean Community bloc of countries. The majority of the new CARICOM passports as they are called serve the union as a centre-piece of promoting easy travel within the Caribbean Single Market, samples of items printed by Canadian Bank Note Company, Canadian dollar Bank of Canada Royal Canadian Mint Canadian Bank Note Company
12.
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
13.
Economy of Suriname
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Suriname was ranked the 124th safest investment destination in the world in the March 2011 Euromoney Country Risk rankings. The backbone of the economy of Suriname is the export of aluminium oxide, in 1999, the aluminium smelter at Paranam was closed and mining at Onverdacht ceased, however, alumina exports accounted for 72% of Surinames estimated export earnings of US$496.6 million in 2001. Surinames bauxite deposits have been among the worlds richest, inexpensive power costs are Surinames big advantage in the energy-intensive alumina and aluminium business. In the 1960s, the Aluminum Company of America built the US$150-million Afobaka Dam for the production of hydroelectric energy and this created the Brokopondo Reservoir a 1,560 km² lake, one of the largest artificial lakes in the world. The construction of railway was financially funded by the Dutch governments independence/severance payments after November 25,1975. After completion of railway and associated facilities, for political and economical reasons it was never actually used and was left to be overgrown by the jungle. Also plans to construct a dam in the Kabalebo River were developed, in 1984, SURALCO, a subsidiary of Alcoa, formed a joint venture with the Royal Dutch Shell-owned Billiton Company, which did not process the bauxite it mined in Suriname. Under this agreement, both companies share risks and profits, the major mining sites at Moengo and Lelydorp are maturing, and it is now estimated that their reserves will be depleted by 2006. Other proven reserves exist in the east, west, and north of the country sufficient to last until 2045, however, distance and topography make their immediate development costly. The government and the companies are looking into ways to develop the new mines. The preeminence of bauxite and ALCOAs continued presence in Suriname is a key element in the U. S. -Suriname economic relationship, there is one large scale gold mine operating in Suriname. This is the Rosebel Gold Mine, development of a second large scale mine called the Merian Gold Project was approved by the government of Suriname on June 7,2013. This mining project would be a partnership of Newmont Mining Corporation and Alcoa World Alumina, Merian is about 60 kilometres south of the town of Moengo on the Marowijne River. The government estimates there are another 20,000 small scale operators, only 115 of these were registered by the government in 2009. The government calls these people porknokkers, because of unemployment in Suriname, some local people turn to small, illegal gold mining as their source of incomes. Gold mining has caused damages in the country. Establishment of Ordening Goudsector Commission for the Ordering of the Gold Mining Sector was established by the government in 2010, ban on mercury use in small-scale mining Suriname doesn’t produce chemical mercury and only allows mercury imports with a license. Since the nineties these licenses weren’t issued anymore, moreover, all licenses are used for mercury imports for medical use or research
14.
Australian dollar
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Within Australia, it is almost always abbreviated with the dollar sign, with A$ or AU$ sometimes used to distinguish it from other dollar-denominated currencies. It is subdivided into 100 cents, in 2011, the Australian dollar was the fifth most traded currency in the world, accounting for 7. 6% of the worlds daily share. It trades in the foreign exchange markets behind the US dollar, the euro, the yen. The currency is referred to by foreign-exchange traders as the Aussie dollar. With pounds, shillings and pence to be replaced by decimal currency on 14 February 1966, in 1963, the Prime Minister, Sir Robert Menzies, a monarchist, wished to name the currency the royal. Other proposed names included more exotic suggestions such as the austral, the oz, the boomer, the roo, the kanga, the emu, the digger, the quid, the dinkum and the ming. Menzies influence resulted in the selection of the royal, and trial designs were prepared and printed by the Reserve Bank of Australia, the Treasurer, Harold Holt, announced the decision in Parliament on 5 June 1963. The royal would be subdivided into 100 cents, but the existing names shilling, florin, the name royal for the currency proved very unpopular, with Holt and his wife even receiving death threats. On 24 July Holt told the Cabinet the decision had been a terrible mistake, on 18 September Holt advised Parliament that the name was to be the dollar, of 100 cents. The Australian pound, introduced in 1910 and officially distinct in value from the pound sterling since devaluation in 1931, was replaced by the dollar on 14 February 1966. The rate of conversion for the new currency was two dollars per Australian pound, or ten Australian shillings per dollar. The exchange rate was pegged to the pound sterling at a rate of $1 =8 shillings, in 1967, Australia effectively left the sterling area, when the pound sterling was devalued against the US dollar and the Australian dollar did not follow. It maintained its peg to the US dollar at the rate of A$1 = US$1.12, on 27 September 2012, the Reserve Bank of Australia stated that they had ordered work on a project to upgrade the current banknotes. The upgraded banknotes will incorporate a number of new features so that they remain secure into the future, the first new banknotes were issued from the 1st of September 2016, with the remaining denominations to be issued in the coming years. In 1966, coins were introduced in denominations of 1,2,5,10,20 and 50 cents. The initial 50-cent coins contained high silver content and were withdrawn after a year after the value of the silver content was found to exceed the face value of the coins. One-dollar coins were introduced in 1984, followed by two-dollar coins in 1988, the one- and two-cent coins were discontinued in 1991 and withdrawn from circulation. In commemoration of the 40th anniversary of decimal currency, the 2006 mint proof and uncirculated sets included one-, in early 2013, Australias first triangular coin was introduced, to mark the 25th anniversary of the opening of Parliament House
15.
Bahamian dollar
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The dollar has been the currency of The Bahamas since 1966. It is normally abbreviated with the dollar sign $, or alternatively B$ to distinguish it from other dollar-denominated currencies and it is divided into 100 cents. The Bahamian dollar is pegged to the U. S. dollar on a one-to-one basis, the dollar replaced the pound at a rate of 1 dollar =7 shillings in 1966. This rate allowed the establishment of parity with the U. S. dollar, to aid in decimalization, three-dollar bills and fifteen-cent coins were created, as three dollars was roughly equivalent to one pound, and fifteen cents to a shilling, at the time of transition. In 1966, coins were introduced in denominations of 1,5,10,15,25,50 cents,1 and 2 dollars. The 1 cent was struck in nickel-brass, the 5,10, and 15 cent in cupronickel, the 25 cent in nickel, the 10 cent was scallop shaped, whilst the 15 cent was square. Silver coins were not issued for circulation after 1966, bronze replaced nickel-brass in the 1 cent in 1970, followed by brass in 1974 and copper-plated zinc in 1985. In 1989, cupro-nickel 50 cent and 1 dollar coins were issued for circulation, although they did not replace the corresponding banknotes. The current 1 cent coin is about the size of a U. S. dime, the 15 cent coins are still produced by the Central Bank but are not commonly used. All coins now bear the Bahamian Coat of Arms on one side with the words Commonwealth of The Bahamas, the reverses of the coins show objects from Bahamian culture with the value of the coins in words. The 1 cent has three starfish, the 5 cent a pineapple, the 10 cent two bonefish, the 15 cent a hibiscus, and the 25 cent a native sloop. In 1966, the government introduced notes in denominations of ½,1,3,5,10,20,50 and 100 dollars, the Bahamas Monetary Authority took over the issuance of paper money in 1968, issuing the same denominations. The Central Bank of The Bahamas was established on 1 June 1974 and its first issue of notes did not include the ½ and 3 dollar denominations but these were reintroduced in 1984. All banknotes have been undergoing changes to foil forgery in recent years. All banknotes are the physical size, like the U. S. dollar. The latest counterfeit-proof formula is the Counterfeit Resistant Integrated Security Product, the new $10 banknote was released on August 5,2005, while the $20 banknote was released on September 6,2006. In October 2005, someone counterfeited one of the new CRISP $10 bills, Bahamian authorities warned merchants to look for banknotes that lacked the distinctive watermark. Until a few years ago all notes displayed a portrait of Queen Elizabeth II and this policy is now being reversed, with the return of the Queens portrait to the $10 note
16.
Belize dollar
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The Belize dollar is the official currency in Belize. It is normally abbreviated with the dollar sign $, or alternatively BZ$ to distinguish it from other dollar-denominated currencies and it is divided into 100 cents. The official value is pegged at 2 BZ$ =1 US$. i. e. one third of a pound sterling, in 1825, an imperial order-in-council was passed for the purpose of introducing the British sterling coinage into all the British colonies. This order-in-council made sterling coinage legal tender, it set the rate between sterling and the Spanish dollar at $1 = 4s 4d. This exchange rate was supposed to be based on the value of the silver in the Spanish dollars as compared to the value of the gold in the British sovereigns. The realistic exchange rate would have been $4.80 = £1, remedial legislation came about in 1838 with a new order-in-council, which did not apply to the British North American colonies due to minor rebellions in Upper and Lower Canada. The 1838 legislation introduced the rating of $1 = 4s 2d. The Bahamas would later adopt this same approach, the British shilling, referred to locally as a Maccaroni, was equal to one quarter of a dollar, and the system was working very satisfactorily. For a period in the middle of the nineteenth century British Honduras operated the British sterling monetary system just like Jamaica, in the wake of the international silver crisis of 1873 the silver peso of neighbouring Guatemala drove the British currency out of circulation. At that time, the Canadian dollar was on the gold standard and this is the point where the currency history of British Honduras diverges from that of the rest of the British West Indies. In 1885,1 cent coins were issued, followed by higher denominations in 1894. This year also saw the first issue of banknotes by the government and a switch from the silver Guatemalan peso to the gold U. S. dollar as the base for the currency, with $4.866 =1 pound. The rate of $4.866 as opposed to $4.80 is explained by the fact that when the US dollar was first created in 1792, hence, the US dollar was at a slight discount in relation to the Spanish dollar. Following the introduction of the US dollar gold standard to British Honduras, when the United Kingdom abandoned the gold standard in 1931 the British Honduras dollar continued with its attachment to the US dollar and as such it did not become part of the sterling bloc. The sterling bloc should not be confused with the sterling area, in 1949 the British pound was devalued from US$4.03 to US$2.80. Since the British Honduras dollar was pegged to the US dollar, protests ensued which led to a devaluation of the British Honduran dollar to a value of 70 U. S. cents. Following Harold Wilsons devaluation of sterling in November 1967, the British Honduran dollar again devalued in sympathy with the British pound to 60 US cents. In 1978, the link to the British pound of BZ$4 = £1 was abandoned and this new rate which still continues today, reflects the devaluation of 50% in relation to the original parity with the US dollar in 1885, which last applied in 1949
17.
Bermudian dollar
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The Bermudian dollar is the official currency of the British Overseas Territory of Bermuda. It is subdivided into 100 cents, the Bermudian dollar is not normally traded outside of Bermuda, and is pegged to the United States dollar at a one-to-one ratio. Both currencies circulate in Bermuda on an equal basis, for nearly four hundred years Spanish dollars, known as pieces of eight were in widespread use on the worlds trading routes, including the Caribbean region. However, following the wars in Latin America, the source of these silver trade coins. The United Kingdom had adopted a successful gold standard in 1821. Because of this, the conversion had the effect in many colonies. Remedial legislation had to be introduced in 1838 so as to change over to the more realistic rating of $1 = 4s 2d. Contrary to expectations, and unlike in the Bahamas where US dollars circulated concurrently with sterling, the Spanish dollars fell away in the 1850s but returned again in the 1870s following the international silver crisis of 1873. In 1874, the Bermuda merchants agreed unanimously to decline to accept the heavy imports of U. S. currency except at a heavy discount, and in 1876, legislation was passed to demonetise the silver dollars for fear of them returning. In 1882, the legal tender act demonetised the gold doubloon, which had in effect been the real standard in Bermuda, and this left pounds, shillings. The pound sterling remained the currency of Bermuda until 1970. With U. S. and Canadian coins regularly appearing in circulation in Bermuda, on 6 February 1970, Bermuda introduced a new decimal currency in the form of a dollar. The nascent Bermuda dollars circulated in conjunction with the new British decimal coinage a year before it was introduced in the United Kingdom, by adopting decimalisation early, Bermuda was also able place orders for the coinage from the Royal Mint before other Commonwealth countries seeking to decimalise could. The link between the Bermudian dollar and the sterling was not broken until 31 July 1972, which allowed Bermuda to align to a one-to-one exchange rate with that of the United States. The decision for Bermuda to peg its dollar to the U. S. dollar added convenience for the multitude of American tourists and businesses with whom Bermuda largely relied on. Since 1972, Bermuda law has required that local businesses charge prices in Bermudian dollars which, if paid in US dollars, only banks are legally allowed to exchange Bermudian dollars into U. S. dollars or other currencies, subject to a 1% Foreign Currency Purchase Tax. Prior to decimalisation and conversion to the dollar, the Government of Bermuda did not issue its own coins, other than the commemorative Bermuda crowns, in 1970, the Bermuda Monetary Authority introduced coinage with denominations of 1,5,10,25, and 50 cents. From its inception, the 1-cent coin was out of bronze until 1988
18.
Brunei dollar
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The Bruneian dollar, has been the currency of the Sultanate of Brunei since 1967. It is normally abbreviated with the dollar sign $, or alternatively B$ to distinguish it from other dollar-dominated currencies and it is divided into 100 sen or cents. The Bruneian dollar is managed together with the Singapore dollar at a 1,1 ratio by the Monetary Authority of Singapore, early currency in Brunei included cowrie shells. Brunei is also famous for its bronze teapots, which were used as currency in trade along the coast of northern Borneo. Brunei issued tin coins denominated in pitis in AH1285 and these were followed by a one cent coin in AH1304. This cent was one hundredth of a Straits dollar, the Bruneian dollar replaced the Malaya and British Borneo dollar in 1967 after the formation of Malaysia and the independence of Singapore. Until 23 June 1973, the Malaysian ringgit was exchangeable at par with the Singapore dollar, the Monetary Authority of Singapore and the Brunei Currency and Monetary Board (now the Authoriti Monetari Brunei Darussalam still maintain the exchangeability of their two currencies. The dollar is accepted as customary tender in Singapore according to the Currency Interchangeability Agreement, coins were used in Brunei from the 10th century. The Straits dollar was used in Brunei from 1906. Due to the ties between China and Brunei, the first type of coins used in Brunei were Chinese coins. They were later known as ‘Kue’ when local ‘Pitis’ were introduced, the local ‘Pitis’ coins had ‘Sultanate of Brunei’ stamped in front of the coin and the royal umbrella was imprinted at the back. These were issued from the 16th to the 19th century, previous Islamic coins were also called the ‘Pitis’. Another type of coin that was used in Brunei were ‘Duit besi’, iron was considered valuable those days that it was used as money. 100 one-square inch pieces were valued at 1 dollar, the last coin to be issued before the introduction of the Straits Settlements currency was the ‘Duit Bintang’, otherwise known as the ‘Star coin’ or the Star Cent. It is called the Star coin because of the star imprinted on the obverse of the coin and it was minted in Birmingham, England, in 1887. With the introduction of the Straits Settlements currency, the previously used coins were taken out of circulation and they were, however still used with certain exchange rates. The Straits dollar was introduced in Brunei in 1906 and it was later replaced by the Malayan dollar which was introduced to British colonies and Brunei in 1939. It replaced the Straits dollar at par with a 1,1 exchange rate, the Malayan dollar was issued by the Board of Commissioners of Currency in Malaya
19.
Canadian dollar
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The Canadian dollar is the currency of Canada. It is abbreviated with the dollar sign $, or sometimes Can$ or C$ to distinguish it from other dollar-denominated currencies and it is divided into 100 cents. Canadas dollar is the fifth most held reserve currency in the world, accounting for approximately 2% of all global reserves, behind only the U. S. dollar, the euro, the yen and the pound sterling. In 1841, the Province of Canada adopted a new system based on the Halifax rating, the new Canadian pound was equal to four US dollars, making one pound sterling equal to 1 pound,4 shillings, and 4 pence Canadian. Thus, the new Canadian pound was worth 16 shillings and 5.3 pence sterling, the 1850s was a decade of wrangling over whether to adopt a sterling monetary system or a decimal monetary system based on the US dollar. In 1851, the Legislative Council and the Legislative Assembly passed an act for the purposes of introducing a sterling unit in conjunction with decimal fractional coinage. The idea was that the coins would correspond to exact amounts in relation to the U. S. dollar fractional coinage. This gold standard was introduced with the gold sovereign being legal tender at £1 = US$ 4.86 2⁄3, no coinage was provided for under the 1853 act. Sterling coinage was legal tender and all other silver coins were demonetized. The British government in principle allowed for a decimal coinage but nevertheless held out the hope that a unit would be chosen under the name of royal. However, in 1857, the decision was made to introduce a decimal coinage into the Province of Canada in conjunction with the U. S. dollar unit, in 1859, Canadian colonial postage stamps were issued with decimal denominations for the first time. In 1860, the colonies of New Brunswick and Nova Scotia followed the colony of Canada in adopting a system based on the U. S. dollar unit. In the following year, Canadian colonial postage stamps were issued with the shown in dollars. The U. S. dollar was created in 1792 on the basis of the weight of a selection of worn Spanish dollars. As such, the Spanish dollar was slightly more than the U. S. dollar, and likewise. In 1867, the colonies of Canada, New Brunswick, and Nova Scotia were united in a called the Dominion of Canada. In 1871, Prince Edward Island went decimal within the U. S. dollar unit, however, the currency of Prince Edward Island was absorbed into the Canadian system shortly afterwards, when Prince Edward island joined the Dominion of Canada in 1873. The Canadian Parliament passed the Uniform Currency Act in April 1871, tying up loose ends as to the currencies of the various provinces, the gold standard was temporarily abandoned during the First World War and definitively abolished on April 10,1933
20.
Cook Islands dollar
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The dollar is the currency of the Cook Islands. The dollar is subdivided into 100 cents, although some 50 cent coins carry the denomination as 50 tene, until 1967, the New Zealand pound was used on the Cook Islands, when it was replaced by the New Zealand dollar. In 1972, coins were issued specifically for the Cook Islands, the Cook Islands dollar is pegged at par to the New Zealand dollar. The currency of New Zealand and the Cook Islands circulate concurrently within the country, coins have been struck on different occasions mainly by the Royal Australian Mint, the Franklin Mint, and the Perth Mint with the paper currency being printed by De La Rue. In 1972, bronze 1 and 2 cents, and cupro-nickel 5,10,20 and 50 cents, and 1-dollar coins were introduced. All were the size, weight, and composition as the corresponding New Zealand coins, however. Each coin depicted plants, animals, and items unique to the Cook Islands, in 1983, production of the 1 and 2-cent coins was ceased and the two coins were later demonetized. In 1987, a smaller, lighter scallop-edged $1 coin with a similar size and this coin was issued to replace its bulky predecessor. 2003 saw the reintroduction of a 1-cent coin, this time composed of aluminium rather than bronze and these were issued with five different reverses, each commemorating a few of the nations historical themes. A large, stainless steel 5 cent coin was issued in 2000 centred on FAO, the Cook Islands has a long reputation for frequent monetary oddities. It was one of the last countries to hold on to large crown-sized coins while elsewhere,1988 brought the redesign of the 50-cent piece, quite unique in becoming the first coin in the country to bear a denomination name. Although widely recognized as cents this coin depicts tene, the language equivalent to the English word cent. It also abandoned its 1 and 2-cent pieces almost 10 years before both New Zealand and Australia, only to bring the 1 cent back 20 years later. It also replaced $1 and $2 notes for two years before New Zealand did, even though the Cook Islands dollar is pegged to the NZD at par. Amidst minting $2 and $5 coins, it issued an oddball $3 note in between the dollar coins as part of the same series. With the reduction in size of the New Zealand 10,20 and 50-cent coins in 2006, however, $1, $2, and $5 pieces remained in use. As part of a reform, new coins were minted in 2015 by the Royal Australian Mint. The new coins carry similar designs to the ones with the 10,20, and 50 cents struck in nickel-plated steel, while the 1,2
21.
Eastern Caribbean dollar
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The Eastern Caribbean dollar is the currency of all seven full members and one associate member of the Organisation of Eastern Caribbean States. The EC$ is subdivided into 100 cents and it has been pegged to the United States dollar since July 7,1976, and the exchange rate is US$1 = EC$2.70. Six of the using the EC$ are independent states, Antigua and Barbuda, Dominica, Grenada, Saint Kitts and Nevis, Saint Lucia, and Saint Vincent. The other two are British overseas territories, Anguilla and Montserrat and these states are all members of the Eastern Caribbean Currency Union. The only OECS associate member not using the Eastern Caribbean dollar as their currency is the British Virgin Islands. The British Virgin Islands were always problematic for currency purposes due to their proximity to the Danish West Indies which became the US Virgin Islands in 1917. Officially, the British Virgin Islands used to use sterling, but in practice the situation was a lot more complicated and involved the circulation of Francs, British Guiana and Barbados had previously been members of this currency union but withdrew in 1966 and 1972 respectively. Trinidad and Tobago had been a member of the earlier British West Indies currency union, the combined population of the EC$ area is about 613,000, which is comparable to Montenegro or the American capital city of Washington, D. C. The combined GDP is 5.46 billion US dollars, which is comparable to Bermuda, Queen Elizabeth II appears on the banknotes and also on the obverse of the coins. She is the head of state of all the states and territories using the EC$, Dominica is nevertheless a member of the Commonwealth of Nations which recognises Queen Elizabeth II as Head of the Commonwealth. Queen Annes proclamation of 1704 introduced the standard to the British West Indies. Nevertheless, silver pieces of eight continued to form an important portion of the circulating coinage right up until the late 1870s, in 1822, the British government coined 1/4, 1/8, and 1/16 fractional Anchor dollars for use in Mauritius and the British West Indies. A few years later copper fractional dollars were coined for Mauritius, Sierra Leone, the first move to introduce British sterling silver coinage to the colonies came with an imperial order-in-council dated 1825. This move was inspired by a number of factors, the United Kingdom was now operating a very successful gold standard in relation to the gold sovereign that was introduced in 1816, and there was a desire to extend this system to the colonies. In addition to this, there was the fact that the supply of Spanish dollars had been cut off as a result of the revolutions in Latin America where most of the Spanish dollars were minted, the last Spanish Dollar was in fact minted at Potosi in 1825. There was now a growing desire to have a stable and steady supply of British shillings everywhere the British drum was beating. The 1825 order-in-council was largely a failure because it made sterling coinage legal tender at the unrealistic rating in relation to the Spanish dollar of $1 =4 shillings and 4 pence. The reality of the rating between the dollar and the pound was based on the content of the Spanish pieces of eight as compared to the gold content of the British gold sovereign
22.
Fijian dollar
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The Fijian dollar has been the currency of Fiji since 1969 and was also the currency between 1867 and 1873. It is normally abbreviated with the dollar sign $, or alternatively FJ$ to distinguish it from other dollar-denominated currencies and it is divided into 100 cents. Fiji followed the pattern of South Africa, Australia, and New Zealand in that when it adopted the decimal system, it decided to use the half pound unit as opposed to the pound unit of account. The choice of the dollar was motivated by the fact that the reduced value of the new unit corresponded more closely to the value of the US dollar than it did to the pound sterling. The dollar was reintroduced on 15 January 1969, replacing the Fijian pound at a rate of 1 pound =2 dollars, or 10 shillings = FJ$1. Despite Fiji having been a republic since 1987, coins and banknotes continued to feature Queen Elizabeth II until 2013, in 1969, coins were introduced in denominations of 1¢, 2¢, 5¢, 10¢ & 20¢, with a 50¢ coin issued in 1975. The coins had the same sizes and compositions as the corresponding Australian coins, in 1990, new compositions were introduced, with copper-plated zinc used for the 1¢ and 2¢ coins, and nickel-plated steel for the 5¢, 10¢, 20¢ & 50¢. An aluminium-bronze $1 coin was introduced in 1995, replacing the $1 note,2009 saw the introduction of a new smaller coinage from 5 to 50 cents. These were struck by the Royal Canadian Mint and are made with the three ply electroplate method, the 1 and 2 cents were also discontinued and withdrawn the same year. A thinner brass plated steel $1 dollar coin was introduced in 2010. In 2013 Fiji released a family of new coins, with fauna themes. This new series saw the introduction of a $2 coin, replacing the corresponding note just as the $1 coin had done before and this coin faced controversy due to being too easily mistaken as a $1, as it was only slightly larger of the same color. It was replaced by a larger and thicker Spanish flower shaped $2 coin in 2014, the metallic content of both the $1 and $2 was also changed in 2014 for better durability and resistance to wear after widespread complaints of the coins corroding and turning black. In 1867, the government treasury issued 1 dollar notes and these were followed by notes for $1, $5, $10, $25 and $50 issued between 1871 and 1873. Also between 1871 and 1873, King Seru Epenisa Cakobau issued notes in denominations of 12½¢, 25¢, 50¢, 100¢, levuka issued $1 and $5 notes during the 1870s. On 15 January 1969, the government introduced notes in denominations of 50 cents, $1, $2, $10, and $20, the $5 note was not issued until 1970. The Central Monetary Authority took over the issuance of money in 1974, issuing the same denominations. In 1986, the Reserve Bank of Fiji began issuing notes, the $1 note was replaced by a coin in 1995
23.
Guyanese dollar
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The Guyanese dollar has been the unit of account in Guyana since 29 January 1839. Originally it was intended as a unit to facilitate the changeover from the Dutch guilder system of currency to the British pound sterling system. In 1951 the British sterling coinage was replaced with a new coinage which was simultaneously introduced through all the British territories in the Eastern Caribbean. The Guyanese dollar is normally abbreviated with the dollar sign $, the history of the Guyanese dollar should not be considered in isolation of the wider picture surrounding the history of currency in the British West Indies as a whole. In the other Eastern Caribbean territories, there was a mixture of dollar, the Dutch territories of Essequibo, Demerara, and Berbice on the north coast of South America, created in early 17th century, came under the control of the British during the Napoleonic wars. These territories were ceded to the United Kingdom in 1815. At first, the British introduced a British variety of the Dutch guilder currency into this territory, then in 1839, the Spanish dollar as a unit of account was introduced in order to facilitate the introduction of British sterling silver coinage. The dollar unit of account therefore acted as a convenient intermediatory conversion unit between sterling and the guilder unit. The dollar unit was equivalent to 4 shillings 2 pence sterling, a particular feature of the circulation of British silver coins in British Guiana was the popularity of the 4d coin, known as the groat. This was a consequence of its equivalence to the very popular outgoing Bit coin which was equal to one quarter of a guilder. These were first struck in 1891, from 1917 they were struck exclusively for use in British Guiana. Spanish, Mexican, and Colombian silver dollars continued to circulate alongside the British sterling coinage until 1876 when these coins were demonetised. The Spanish dollar unit should not be confused with the American dollar unit, the American dollar unit was first introduced in the USA in the year 1792, based on the average weight of a selection of worn Spanish dollars. As such, the American dollar was less valuable than the Spanish dollar. After the introduction of the dollar, regular British coins circulated, the 2 pence coins issued in 1838,1843 and 1848 were of the standard Maundy money type, whilst the 4 pence coins bore an image of Britannia. Between 1891 and 1916,4 pence coins were issued specifically for British Guiana and West Indies,1916 also saw the first issue of paper money by the Government of British Guiana, in denominations of 1,2,5,20 and 100 dollars. In 1967, coins were introduced in denominations of 1,5,10,25 and 50 cents, the 1 and 5 cents were struck in nickel brass, with the other denominations struck in cupro-nickel. In 1996, high inflation caused the introduction of 1,5 and 10 dollars coins, the 1 and 5 dollars are struck in copper-plated steel, whilst the 10 dollars is struck in nickel-plated steel and has an equilateral-curved heptagonal shape
24.
Hong Kong dollar
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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 $16 = £1. During the Japanese occupation, the Japanese military yen were the means of everyday exchange in Hong Kong
25.
Jamaican dollar
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The dollar has been the currency of Jamaica since 1969. It is often abbreviated J$, the J serving to distinguish it from other dollar-denominated currencies and it is divided into 100 cents. The history of currency in Jamaica should not be considered in isolation of the picture in the British West Indies as a whole. The earliest money in Jamaica was Spanish copper coins called maravedíes and this relates to the fact that for nearly four hundred years Spanish dollars, known as pieces of eight were in widespread use on the worlds trading routes, including the Caribbean Sea region. However, following the wars in Latin America, the source of these silver trade coins dried up. The last Spanish dollar was minted at the Potosí mint in 1825, the United Kingdom had adopted a very successful gold standard in 1821, so 1825 was an opportune time to introduce the British sterling coinage into all the British colonies. An imperial order-in-council was passed in that year for the purposes of facilitating this aim by making sterling coinage legal tender in the colonies at the rating of $1 = 4s 4d. It had the effect of actually driving sterling coinage out, rather than encouraging its circulation, remedial legislation had to be introduced in 1838 so as to change over to the more realistic rating of $1 = 4s 2d. In 1834, silver coins of threepence and three halfpence were introduced, valued at ½ real and ¼ real, the three-halfpence coins came to be called quartiles or quatties. These in particular were used in collections due to a feeling by the black population that copper coins were inappropriate for that purpose. Hence, they came to be called Christian quatties, Coins in use were thus the farthing, halfpenny, penny, three halfpence, threepence, sixpence, shilling, florin, half crown, and crown. The emancipation of the slaves in 1838 increased the need for coinage in Jamaica, particularly low-denomination coins, the solution was to use cupronickel, adopted in 1869. Pennies and halfpennies were minted for use in Jamaica, becoming the first truly Jamaican coins, beginning in 1880, the farthing was also minted in cupronickel. In 1904, the first government-authorized banknotes were produced in the denomination of 10s, Banknotes of £1 and £5 were also being circulated by chartered banks. In 1918, denominations of 2s 6d and 5s were authorized, the 2s 6d note proved to have a short life, being withdrawn in 1922. In 1940, the government bank began producing £1 and £5 notes, in October 1960, the Bank of Jamaica was given the sole right to mint coins and produce banknotes in Jamaica. Their notes were released on May 1,1961, in the denominations of 5s, 10s, £1, on January 30,1968, the Jamaican House of Representatives voted to decimalize the currency by introducing the dollar, worth 10 shillings, to replace the Jamaican pound. Coins and banknotes went into circulation on September 8,1969, the introduction of a decimal currency provided the opportunity for the introduction of a complete Jamaican coinage as formerly, the coins, were the same as those used in the United Kingdom
26.
Kiribati dollar
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The dollar is the currency of Kiribati. It is pegged at 1,1 ratio to the Australian dollar, coins were issued in 1979 and circulate alongside banknotes and coins of the Australian dollar. Before independence, Australian coins were used in Kiribati from 1966 until 1979, during Japanese occupation of the islands during World War II, the Oceanian pound, an all banknote currency created by the Japanese Government to be a universal currency for the pacific, was in use. The Australian pound was restored as the national currency after the war ended. A two dollar coin was introduced to replace the note and celebrate the nations tenth anniversary. Kiribatis first coins were introduced in 1979 following independence and were directly pegged to the Australian dollar, the coins were issued in denominations of 1,2,5,10,20 and 50 cents, and 1 dollar. As usual for other island states, only the lower denominations share any commonality. The 50 cent piece is round with reeded edges, unlike the dodecagonal Australian equivalent, the Kiribati 1 dollar is the same twelve sided shape as the Australian 50 cent coin, but it is smaller and weighs about 4½ grams less than both the Australian and Kiribati half dollars. The Kiribati $2 piece is round and much larger than the Australias comparatively tiny $2 piece, with the circumference of the 20 cent coin. Most Kiribati coins are dated 1979, marking an event to cooincide with independence, in 1992, Kiribati began producing 1 and 2 cent pieces in copper-steel clad and 5 cent pieces in nickel-steel clad restruck off of 1979 planchets. These coins are distinct in their luster and obvious attraction to a magnet and were produced to compensate for Australias discontinuation of the two lowest denominations, however, a small mintage of the 1992 issue 1 cent was struck in bronze. 10,20,50, and $1 coins have yet to appear as later issues, so most of the denominations remain as a single date issue. Although Kiribati retained 1 and 2 cent coins well after Australia demoted theirs, redundancy, Kiribati no longer issues local coinage and hasnt now for quite some time, so most examples are either uncirculated from the bank or heavily used. The primary side of all Kiribati coins depicts the national crest, while the obverse depict flora, fauna, the coins were designed by sculptor and engraver Michael Hibbit. These continued to be the source of exchange until the decimalization of 1966. In 1942, local banknotes were issued under the authority of the Gilbert and Ellice Islands Government and were produced with a primitive. These notes were valued on parity with sterling and issued in denominations of 1,2,5, after the wartime emergency had passed these notes were discontinued and gradually phased out. Due to their scarcity, these notes are highly collectable, in 1966, the new Australian dollar became the new official currency of The Gilbert and Ellice islands, replacing the pound notes
27.
Liberian dollar
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The dollar has been the currency of Liberia since 1943. It was also the currency between 1847 and 1907. It is normally abbreviated with the dollar sign $, or alternatively L$ or LD$ to distinguish it from other dollar-denominated currencies and it is divided into 100 cents. The first Liberian dollar was issued in 1847 and it was pegged to the US dollar at par and circulated alongside the US dollar until 1907, when Liberia adopted the British West African pound, which was pegged to sterling. In 1847, copper 1 and 2 cents coins were issued and were the only Liberian coins until 1896, the last issues were made in 1906. The Treasury Department issued notes between 1857 and 1880 in denominations of 10 and 50 cents,1,2,3,5 and 10 dollars, united States currency replaced the British West African pound in Liberia in 1935. Starting in 1937, Liberia issued its own coins which circulated alongside US currency, unfortunately the 7-sided coins were the same size and weight as the one-dollar coin, this similarity was frequently abused by traders. In the late 1980s the coins were replaced with a newly designed $10 note modeled on the US greenback. The design was modified during the 1990-2004 civil war to ostracize notes looted from the Central Bank of Liberia and this effectively created two currency zones -- the new Liberty notes were legal tender in government-held areas, while the old notes were legal tender in non-government areas. Each was of course illegal in the other territory, following the election of the Charles Taylor government in 1997 a new series of banknotes dated 1999 was introduced on March 29,2000. In 1937, coins were issued in denominations of ½,1 and 2 cents and these were augmented in 1960 with coins for 1,5,10,25 and 50 cents. A $1 coin was issued the following year, five-dollar coins were issued in 1982 and 1985. According to the 2009 Standard Catalog of World Coins, numerous commemorative coins in denominations ranging from 1 to 2500 Dollars have been issued beginning in the 1970s through the present, five-dollar notes were introduced in 1989 which bore the portrait of J. J. Roberts. These were known as J. J. notes, in 1991, similar notes were issued which replaced the portrait with Liberias arms. These were known as Liberty notes, on 29 March 2000, the Central Bank of Liberia introduced a new “unified” currency, which was exchanged at par for “J. J. ” notes and at a ratio of 1,2 for “Liberty” notes. The new banknotes each feature a portrait of a former president and these notes remain in current use, although they underwent a minor redesign in 2003, with new dates, signatures, and the CENTRAL BANK OF LIBERIA banner on the back. On 27 July 2016, the Central Bank of Liberia announced new banknotes will be introduced with enhanced security features, all of the denominations are the same as previous issues, with the $500 banknote being introduced as part of this series. On 6 October 2016, the Central Bank of Liberia introduced new banknotes, Central Bank of Liberia Economy of Liberia Liberian banknotes
28.
Namibian dollar
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The Namibian dollar has been the currency of Namibia since 1993. It is normally abbreviated with the dollar sign $, or alternatively N$ to distinguish it from other dollar-denominated currencies and it is divided into 100 cents. The dollar replaced the South African rand, which had been the countrys currency while it was under South African rule as South-West Africa from 1920 until 1990. The rand is still tender, as the Namibian dollar is linked to the South African rand. Namibia was also part of the Common Monetary Area from independence in 1990 until the introduction of the dollar in 1993, in 1990, moves were under way to replace the rand with a new Namibian currency. The name kalahar was proposed, as the Kalahari Desert is located in eastern Namibia, the name of Namibias central bank was going to be known as the Namibia Reserve Bank. Denominations of this planned currency included 2,5,10 and these plans came to nothing, but some specimen notes were printed in a range of denominations. The Bank of Namibia issued the first banknotes on 15 September 1993 and, in December, Coins in circulation 5 c 10 c 50 c $1 $5 $10 Years of mintage are 1993,1996,1998,2000,2002,2008,2009 and 2010. However, on 21 March 2012, the Bank of Namibia introduced a new series of banknotes to be issued in May 2012, the new family of banknotes will have the same denomination structure as the current series. The Bank of Namibia has discovered that the diamond-shaped optically variable ink patch on the N$10, the Bank of Namibia has recently issued in limited quantity, the N$10 and N$20 notes on paper with improved quality and shifted the placement of the diamond-shaped optically variable ink feature. The decision then fell in favour of the name ‘dollar’ for the new currency, the proof series consisted of four different coins,1 mark,1 dollar,10 marks and 10 dollars. The obverse of the pieces shows a sitting lion where the dollar pieces depict a San with bow and arrow. All obverse sides bear the indication of denomination as well as the remark ‘PROBE’/‘ESSAI’, the reverse of the 1-mark/1-dollar pieces shows Namibia’s former coat of arms surrounded by the inscription ‘NAMIBIA’, the year and two ears of corn. The ten-mark/ten-dollar pieces bear the inscription ‘INDEPENDENCE’/‘UNABHÄNGIGKEIT’ instead of the ears, there was a series of Namibian pattern coins denominated in South African Rand dated 1990. This short-lived tender was cited in the 2005 edition of Krauses Unusual World Coins
29.
New Zealand dollar
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The New Zealand dollar is the currency and legal tender of New Zealand, the Cook Islands, Niue, the Ross Dependency, Tokelau, and a British territory, the Pitcairn Islands. Within New Zealand, it is almost always abbreviated with the dollar sign, in the context of currency trading, it is often informally called the Kiwi, since New Zealand is commonly associated with the indigenous bird and the $1 coin depicts a kiwi. Introduced in 1967, the dollar is subdivided into 100 cents, altogether there are ten denominations—five coins and five banknotes—with the smallest being the 10-cent coin. Formerly there were lower denominations, but those were discontinued due to inflation, the New Zealand dollar is consistently one of the 10 most-traded currencies in the world, being approximately 2. 0% of global foreign exchange market daily turnover in 2013. Prior to the introduction of the New Zealand dollar in 1967, the New Zealand pound was the currency of New Zealand, which had been distinct from the pound sterling since 1933. The pound used the £sd system, in which the pound was divided into 20 shillings and one shilling was divided into 12 pence, switching to decimal currency had been proposed in New Zealand since the 1930s, although only in the 1950s did any plans come to fruition. In 1957, a committee was set up by the Government to investigate decimal currency, the idea fell on fertile ground, and in 1963, the Government decided to decimalise New Zealand currency. The Decimal Currency Act was passed in 1964, setting the date of transition to 10 July 1967, words such as fern, kiwi and zeal were proposed to avoid confusion with the word dollar, which many people at the time associated with the United States dollar. In the end, the dollar was chosen anyway. On Monday 10 July 1967, the New Zealand dollar was introduced to replace the pound at a rate of two dollars to one pound, some 27 million new banknotes were printed and 165 million new coins were minted for the changeover. The New Zealand dollar was pegged to the US dollar at US$1.43 = NZ$1. This rate changed on 21 November of the year to US$1.12 = NZ$1 after the devaluation of the British pound. In 1971 the US devalued its dollar relative to gold, leading New Zealand on 23 December to peg its dollar at US$1.216 with a 4. 5% fluctuation range, keeping the same gold value. From 9 July 1973 to 4 March 1985 the dollars value was determined from a basket of currencies. The NZ$ was floated on 4 March 1985 at the rate of US$0.4444. Since then the value has been determined by the financial markets. The dollars post-float minimum average daily value was US$0.3922 on 22 November 2000, much of this medium-term variation in the exchange rate has been attributed to differences in interest rates. The New Zealand dollars value is often affected by currency trading
30.
Singapore dollar
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The Singaporean dollar is the official currency of Singapore. It is normally abbreviated with the dollar sign $, or alternatively S$ to distinguish it from other dollar-denominated currencies and it is divided into 100 cents. The Singaporean dollar is accepted as customary tender in Brunei according to the Currency Interchangeability Agreement, likewise, the Bruneian dollar is customarily accepted in Singapore. Between 1845 and 1939, Singapore used the Straits dollar and this was replaced by the Malayan dollar, and, from 1953, the Malaya and British Borneo dollar, which were issued by the Board of Commissioners of Currency, Malaya and British Borneo. Singapore established the Board of Commissioners of Currency, Singapore, on 7 April 1967 and issued its first coins, nevertheless, the Singapore dollar was exchangeable at par with the Malaysian ringgit until 1973, and interchangeability with the Brunei dollar is still maintained. Initially, the Singaporean dollar was pegged to the British pound sterling at a rate of S$60 = £7. This peg lasted until the demise of the Sterling Area due to the Nixon Shock in the early 1970s and this, in theory, allows the Singaporean government to have more control over imported inflation and to ensure that Singapores exports remain competitive. Before 1970, the various functions associated with a central bank were performed by several government departments. Therefore, the Parliament of Singapore passed the Monetary Authority of Singapore Act in 1970, the MAS Act gave the MAS the authority to regulate all elements of monetary, banking, and financial aspects of Singapore. On 31 March 2003, the Board of Commissioners of Currency Singapore merged with the Monetary Authority of Singapore, as of 2012, the total currency in circulation was S$29.1 billion. All issued Singapore currency in circulation are fully backed by assets in its Currency Fund to maintain public confidence. Singapores foreign reserves officially stood at over US$277.9 billion, in 1967, the first series of coins was introduced in denominations 1,5,10,20 and 50 cents and 1 dollar. These coins depicted wildlife and other relating to the island nation and were designed by Stuart Devlin. The sizes were the same as used for the Malaysian Ringgit and based directly off the old coinage of the former Malaya. The 1 cent was bronze while the other denominations were copper-nickel, later, in 1976 the 1 cent was changed to copper-clad steel. The production of the first series was phased out by 1985, in 1985, the second series of coins were introduced in denominations 1,5,10,20 and 50 cents and 1 dollar. The reverse of coins were designed by Christopher Ironside. The new series offered smaller coins depicting a floral theme, one dollar banknotes were discontinued and gradually replaced with an aluminum-bronze coin
31.
Solomon Islands dollar
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The Solomon Islands dollar is the currency of Solomon Islands since 1977. Its symbol is SI$, but the SI prefix may be omitted if there is no confusion with other currencies also using the dollar sign $ and it is subdivided into 100 cents. Prior to the Solomon Islands Dollar, Solomon Islands used the Australian pound sterling, however, the Solomon Islands had also issued its own banknotes, sometimes called the Solomon Islands pound. In 1966 the Australian dollar replaced the pound, and was circulated in the Solomon Islands until 1976, the Solomon Islands dollar was introduced in 1977, replacing the Australian dollar at par, following independence. Until 1979, the two dollars remained equal, then for five months the SI$ was pegged at SI$1.05 = A$1, and later floated. Economic stagnation ensued, so over the next 28 years, and especially during the war of 2000–2003. In 2008, due to the low valuation in the currency, many Islanders took to hoarding coins and giving them to children as souvenirs, some more traditional monetary forms, such as dolphin teeth, have in a few areas taken the place of coins. A public awareness campaign was launched to encourage people to cash in excess coins at the bank to help alleviate the shortfall. g, the Solomon Islands dollar is an offshoot of the Australian dollar, which is in turn essentially a half pound sterling. Australia followed the pattern of South Africa in that when it adopted the decimal system, the name dollar was chosen because the reduced value of the new unit corresponded more closely to the value of the US dollar than it did to the pound sterling. In 1977, coins were introduced in denominations of 1,2,5,10 and 20 cents and 1 dollar. The cent coins were all the sizes, weights, and compositions as the corresponding Australian coins. In 1985 bronze-plated steel replaced bronze in the 1 and 2 cents, with nickel-clad steel replacing cupro-nickel in the 20 cents in 1989,1988 saw the introduction of 50-cent coins, which were dodecagonal and minted in cupro-nickel. The 1988 50-cent was a commemorative piece celebrating the anniversary of independence. Later issues simply depict the national crest, the 50-cent and 1 dollar went to nickel-clad steel in 2008. With a high inflation rate, the low-value 1 and 2-cent coins fell out of use. Second coin series, In 2012 new, smaller coins were introduced in denominations 10,20, and 50 cents in nickel-plated steel and brass 1, and 2 dollar coins. The minting of the coins had become too costly, with most of them being more expensive to produce than they were worth. Like the previous issue, these coins were minted by the Royal Australian Mint, the 2 dollar coin replaced the banknote while the 1,2, and 5 cent coins were discontinued for having face value too low for production or practical use
32.
New Taiwan dollar
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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
33.
Trinidad and Tobago dollar
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The dollar is the currency of Trinidad and Tobago. It is normally abbreviated with the dollar sign $, or alternatively TT$ to distinguish it from other dollar-denominated currencies and it is subdivided into 100 cents. Its predecessor currencies are the Trinidadian dollar and the Tobagan dollar, the history of currency in the former British colony of Trinidad and Tobago closely follows that of the British Eastern Caribbean territories in general. Britain adopted the standard in 1821 and an imperial order-in-council of 1838 resulted in Trinidad. However, despite the circulation of British coins in Trinidad and Tobago, the international silver crisis of 1873 signalled the end of the silver dollar era in the West Indies and silver dollars were demonetized in Tobago in 1879 and in Trinidad at around the same period. This left a state of affairs, in which the British coinage circulated, government offices kept their accounts in British pounds, shillings, and pence until the year 1935 when Trinidad and Tobago went decimal. From 1949, with the introduction of the British West Indies dollar, the British sterling coinage was eventually replaced by a new decimal coinage in 1955, with the new cent being equal to one half of the old penny. In 1951, notes of the British Caribbean Territories, Eastern Group, were introduced, replacing Trinidad, in 1955, coins were introduced when the dollar was decimalized. In 1964, Trinidad and Tobago introduced its own dollar, between 1964 and 1968 the Trinidad and Tobago dollar was utilized in Grenada as legal tender until that country rejoined the common currency arrangements of the East Caribbean dollar. Both of these currencies ended this relationship within a few weeks of each other in 1976, after VAT was introduced in 1989, the dollar was switched from a fixed rate to a managed float regime on Easter Weekend,1993. For a wider outline of the history of currency in the region, in 1966, coins were introduced in denominations of 1¢, 5¢, 10¢, 25¢ & 50¢. A large sized $1 coin was first released for circulation in 1969, the 1¢ & 5¢ are struck in bronze, with the other denominations in cupro-nickel. The 50¢ & $1 coins are scarcely seen in circulation, there are also coins minted in $5, $10, $100 and $200 denominations as well. The price of the gold coins fluctuate depending on the current state of the market for gold, in the nineteenth century, the British gold sovereign was valued at four Spanish silver dollars and eighty cents. The West Indian dollar was equivalent to four shillings and two pence. This Royal Bank of Canada note reflects this state of affairs with its mention of the fact that one hundred dollars is equal to twenty pounds, sixteen shillings. This state of affairs was exclusively confined to the Eastern Caribbean region, British Guiana had a reason to wish to retain the dollar unit owing to its recent changeover from Dutch currency. These factors did not affect Jamaica, Bermuda, or the Bahamas which adopted the currency in both coinage and as the unit of account
34.
Tuvaluan dollar
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The dollar is the currency of Tuvalu. From 1966 to 1976, Tuvalu officially used the Australian dollar, in 1976, Tuvalu began issuing its own coins for circulation, although these circulate alongside Australian coins and Tuvalu continues to use Australian banknotes. Similar to the Faroese krónas relationship to the Danish krone, the Tuvaluan dollar is not an independent currency, the official international currency code is TVD. There is no central monetary institution or central bank in Tuvalu, the National Bank of Tuvalu performs some monetary functions for the government of Tuvalu including the holding of government accounts and foreign assets. Other currencies used in Tuvalu have been the Pound Sterling, prior to the introduction of the Australian dollar, as well as the US dollar, during the World War II American occupation of the islands. Gilbert and Ellice Islands banknotes have also used on in Tuvalu, These notes were cashiers cheques backed in Pounds rather than an official. The Yen backed Oceania pound was used in parts of the Gilberts, in 1976, corresponding with its slated independence, Tuvalus first coins were introduced in denominations of 1,2,5,10,20,50 cents and 1 dollar. The set, designed by John Donald features an aquatic theme, the bronze 1 and 2 cents and the cupro-nickel 5,10 and 20 cents were the same size, weight, and composition as the corresponding Australian coins they were set to constitute. However, the cupro-nickel 50 cent piece was distinct from the dodecagonal Australian 50 cent coin in that it was round with plain edges. The nonogonal cupro-nickel 1 dollar piece was not only by its odd shape. It was also issued long before the trend toward larger denomination coins became much more widespread in many countries, the nine sides on the dollar are meant to represent each of the nine islands and atolls composing the Tuvalu chain. Each of the coins depicts a sea animal that is native to the area, with the exception to that being the 1 cent. The 1976 series also included the introduction of Tuvalus first silver, a silver 5 dollar piece and a gold 50 dollar piece. They are considered an official release and legal tender within Tuvalu, however, as prices and shipping costs have progressively risen the 1 and 2 cent coins have since been withdrawn from circulation. Australia introduced a 2 dollar coin to replace the note in 1988, instead the Australian piece circulates in place. In recent years, Tuvaluans have also taken a preference to Australias smaller, round, brass dollar over their own large, clumsy nonogonal ones, in 1994, the Queens profile was changed in tandem with many other Commonwealth states to the more recent Raphael Maklouf design. Older coins dated 1976-1985 feature the Arnold Machin design, after the 1994 issue, Tuvaluan coins ceased to be produced and Australian coins sent in their stead. However, Tuvalu coins remain as legal tender and continue to circulate alongside Australian ones, Tuvalu also issues a fair number of non-circulating bullion type coins and colourised commemoratives, which earns the country a small portion of its limited income
35.
Yuan (currency)
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The yuan is the base unit of a number of former and present-day Chinese currencies, and usually refers to the primary unit of account of the renminbi, the currency of the Peoples Republic of China. It is also used as a synonym of that currency, especially in international contexts – the ISO4217 standard code for renminbi is CNY, a yuan is also known colloquially as a kuai. One yuan is divided into 10 jiao or colloquially mao, one jiao is divided into 10 fen. When used in English in the context of the foreign exchange market, the Chinese yuan refers to the renminbi. Having been in use for at least 2000 years, the yuan was probably the first decimal currency system and it is also considered the first to use metal coins and bank notes. In Standard Chinese, yuán literally means an object or round coin. During the Qing Dynasty, the yuan was a coin made of silver. In informal contexts, the word is written with the simplified Chinese character 元, in formal contexts it is written with the simplified character 圆 or with the traditional version 圓, both meaning round, after the shape of the coins. These are all pronounced yuán in modern Standard Chinese, but were originally pronounced differently, in the Peoples Republic of China, ￥ or RMB is often prefixed to the amount to indicate that the currency is the renminbi. In many parts of China, the unit of renminbi is sometimes colloquially called kuài rather than yuán, in Cantonese, widely spoken in Guangdong, Guangxi, Hong Kong and Macau, the yuan, jiao, and fen are called mān, hòuh, and sīn, respectively. Sīn is a word from the English cent. The traditional character 圓 is also used to denote the Hong Kong dollar, the Macanese pataca, however, they do not share the same names for the subdivisions. The New Taiwan dollar is referred to in Standard Chinese as yuán. The names of the Korean and Japanese currency units, won and yen respectively, are cognates of Mandarin yuán, also meaning round in the Korean and Japanese languages. The Japanese yen was also written with the kanji character 圓. The Korean won used to be written with the hanja character 圜 from 1902 to 1910 and it is now written as 원 in Hangul exclusively, in both North and South Korea. It was subdivided into 1000 cash,100 cents or fen and it replaced copper cash and various silver ingots called sycees. The sycees were denominated in tael, the yuan was valued at 0.72 tael
36.
Ethiopian birr
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The birr is the unit of currency in Ethiopia. Before 1976, dollar was the official English translation of birr, today, it is officially birr in English as well. Thus, the currency could be considered the Abyssinian birr and the post-1931 currency the Ethiopian birr, although it was the same country. 186 billion birr were in circulation in 2008, in the 18th and 19th centuries, Maria Theresa thalers and blocks of salt called amole tchew served as currency in Ethiopia. The thaler was known locally as the Birr or ታላሪ taleri, the Maria Theresa thaler was officially adopted as the standard coin in 1855, although the Indian rupee and the Mexican dollar were also used in foreign trade. The talari became the unit on 9 February 1893 and 200,000 dollars were produced at the Paris Mint in 1894 for Menelik II. The talari, equivalent to the Maria Theresa thaler, was divided into 20 ghersh or 40 bessa, a new Ethiopian coinage appeared about 1903. The new silver birr maintained the weight and fineness as the old, but there was now a quarter-birr and a silver ghersh. The money of account now became 1 birr =16 ghersh =32 bessa, the Bank of Abyssinia was established in 1905 by Emperor Menelik and the European banking group behind the National Bank of Egypt, the bank was officially inaugurated by Menelik on 15 February 1906. The Ethiopian coinage gained acceptance only gradually, and Bank of Abyssinia imported Maria Theresa thalers, by the time World War One broke out, the bank was still importing about 1,200,000 of these coins annually. Bank of Abyssinia put banknotes into circulation in 1915 and these notes were denominated birr in Amharic and thaler in English. They were used by merchants and by foreigners but were not initially accepted generally, however, Note circulation increased considerably after 1925. Emperor Haile Selassie bought out the Bank of Abyssinia in 1931 for £235,000 in order to make it a purely Ethiopian institution and it was reorganized as Bank of Ethiopia. At the same time, the currency was decimalized and token nickel and copper coins were introduced, the text on the banks notes appeared in Amharic and French. By the mid-1930s circulation consisted chiefly of Maria Theresa and Menelik talari. In an effort to increase the use of Italian paper money, the rate for silver coin was raised to 4.50 lire, then to 5.00. Still, many kept their Ethiopian coins and banknotes. Regular Italian coins and banknotes of Banca dItalia circulated after 15 July 1936, special notes with a red overprint were authorized for Italian East Africa on 12 September 1938, and a large quantity was printed
37.
Malaysian ringgit
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The Malaysian ringgit is the currency of Malaysia. It is divided into 100 sen, the ringgit is issued by the Bank Negara Malaysia. In modern usage ringgit is used almost solely for the currency, to differentiate between the three currencies, the Malaysian currency is referred to as Ringgit Malaysia, hence the official abbreviation and currency symbol RM. Internationally, the ISO4217 currency code for Malaysian ringgit is MYR, the Malay names ringgit and sen were officially adopted as the sole official names in August 1975. Previously they had been known officially as dollars and cents in English and ringgit and sen in Malay, in the northern states of Peninsular Malaysia, denominations of 10 sen are called kupang in Malay, e. g.50 sen is 5 kupang. On 12 June 1967, the Malaysian dollar, issued by the new bank, Bank Negara Malaysia, replaced the Malaya. The new currency retained all denominations of its predecessor except the $10,000 denomination, and also brought over the colour schemes of the old dollar. In November 1967, five months after the introduction of the Malaysian dollar and this ended on 8 May 1973, when the Malaysian government withdrew from the agreement. The Monetary Authority of Singapore and the Brunei Currency and Monetary Board still maintain the interchangeability of their two currencies, as of 2009, in 1993, the currency symbol RM was introduced to replace the use of the dollar sign $. US$130 and RM1,000 worth of US$260. Despite these measures, the ringgit lost 50% of its value against the US dollar between 1997 and 1998, and suffered general depreciation against other currencies between December 2001 and January 2005. As of 4 September 2008, the ringgit has yet to regain its value circa 2001 against the Singapore dollar, the euro, the Australian dollar, and the British pound. On 21 July 2005, Bank Negara announced the end of the peg to the US dollar immediately after Chinas announcement of the end of the peg to the US dollar. According to Bank Negara, Malaysia allows the ringgit to operate in a float against several major currencies. Following the end of the peg, the ringgit appreciated to as high as 3.16 to the US dollar in April 2008. The ringgit had also enjoyed a period of appreciation against the Hong Kong dollar, the initial stability of the ringgit in the late-2000s had led to considerations to reintroduce the currency to foreign trading. As a result, the US dollar appreciated significantly to close at 3.43 to the MYR as of 4 September 2008, while other major currencies, including the renminbi and Hong Kong dollar, followed suit. The ringgit spiked at 3.73 to the US dollar by March 2009, before recovering to 3.00 to the US dollar by mid-2011. The first series of sen coins were introduced in 1967 in denominations of 1 sen,5 sen,10 sen,20 sen,50 sen, followed by the introduction of the 1 ringgit coin in 1971
38.
British North Borneo dollar
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The British North Borneo dollar was the currency of British North Borneo from 1882 to 1953. It was subdivided into 100 cents, both coins and banknotes were issued by the British North Borneo Company. During the Japanese occupation period, paper money was issued in denominations ranging from 1 cent to 1000 dollars and this currency was fixed at 1 dollar =1 Japanese yen, compared to a 1,2 pre-war rate. Following the war, the Japanese occupation currency was declared worthless, Coins were first minted in values of 1⁄2 cent and 1 cent in copper, and later 1 cent, 2 1⁄2 cents, and 5 cents in copper-nickel, and 25 cents in silver. Originally they were issued under the name British North Borneo Co, later they were minted under State of North Borneo, starting in 1903. All coins depicted the coat of arms on the obverse. These were last minted in 1941 and later phased out and replaced by coins of the Malayan dollar, banknotes were printed in values of 25 cents,50 cents, $1, $5, $10, and $25. The design of the banknotes did not change much during the currencys lifetime, however, their physical sizes tend to shrink over time. They either show the coat of arms, Mount Kinabalu, or both, Malayan dollar Postal orders of British North Borneo Sarawak dollar Global Financial Data currency histories table Online Coin Club / Coins from North Borneo
39.
Confederate States dollar
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The Confederate States of America dollar was first issued just before the outbreak of the American Civil War by the newly formed Confederacy. It was not backed by assets, but simply by a promise to pay the bearer after the war, on the prospect of Southern victory. As the war began to tilt against the Confederates, confidence in the currency diminished, by the end of 1863, the Confederate dollar was quoted at just six cents in gold, and fell further still. The Greyback is now a collectors item, in its many versions, including those issued by individual states. The Confederate dollar, often called a Greyback, was first issued into circulation in April 1861, at first, Confederate currency was accepted throughout the South as a medium of exchange with high purchasing power. As the war progressed, however, confidence in the ultimate success waned, the amount of paper money increased, as the war progressed, the currency underwent the depreciation and soaring prices characteristic of inflation. For example, by the end of the war, a cake of soap could sell for as much as $50, near the end of the war, the currency became practically worthless as a medium of exchange. This was because Confederate currency were bills of credit, as in the Revolutionary War, just as the currency issued by the Continental Congress was deemed worthless because they were not backed by any hard assets, so, too, this became the case with Confederate currency. When the Confederacy ceased to exist as an entity at the end of the war. The Confederacy, being limited in skilled engravers and printers as well as printing facilities. Some such were abstract depictions of gods and goddesses, such as the Goddess of Liberty. Confederate themes did prevail with designs of black slaves, naval ships and historical figures, images of slaves often had them depicted as smiling or happily carrying about their work. Many variations in plates, printing and papers also appear in most of the issues, some of the people featured on banknotes include Andrew Jackson, John C. There was also a bill featuring George Washington, Confederate Treasury Notes were hand signed by various clerks, with exception of the 50 cent issues that had the printed signatures of Robert Tyler and Edward C. The first six notes issued were hand signed by the Register and Treasurer themselves, while hand signatures were considered an anti-counterfeiting tool, the sheer number of bills being produced could not reasonably be signed individually by two men each. Women were often hired as clerks to sign for Register and for Treasurer, as the Civil War continued, the cost of the war loomed large. Any precious metals available in the South often made their way to Europe to procure war goods, but the CSA did manage to mint a few coins. In 1861, Mr. Robert Lovett Jr. of Philadelphia was commissioned to design, engrave, on the obverse, he used the head of Minerva, which he had used on several store cards
40.
Early American currency
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Early American currency went through several stages of development in colonial and post-Revolutionary history of the United States. Because few coins were minted in the thirteen colonies became the United States in 1776. Colonial governments sometimes issued paper money to facilitate economic activity, the British Parliament passed Currency Acts in 1751,1764, and 1773 that regulated colonial paper money. During the American Revolution, the colonies became independent states, freed from British monetary regulations, the Continental Congress also issued paper money during the Revolution, known as Continental currency, to fund the war effort. Both state and Continental currency depreciated rapidly, becoming practically worthless by the end of the war and this depreciation was caused by the government having to over-print in order to meet the demands of war. There were three types of money in the colonies of British America, specie, paper money. Commodity money was used when cash was scarce, commodities such as tobacco, beaver skins, and wampum served as money at various times and places. Cash in the colonies was denominated in pounds, shillings, the value varied from colony to colony, a Massachusetts pound, for example, was not equivalent to a Pennsylvania pound. All colonial pounds were of value than the British pound sterling. The coins in circulation in the colonies were most often of Spanish, the prevalence of the Spanish dollar in the colonies led to the money of the United States being denominated in dollars rather than pounds. One by one, colonies began to issue their own money to serve as a convenient medium of exchange. In 1690, the Province of Massachusetts Bay created the first authorized paper money issued by any government in the Western World and this paper money was issued to pay for a military expedition during King Williams War. Other colonies followed the example of Massachusetts Bay by issuing their own currency in subsequent military conflicts. The paper bills issued by the colonies were known as bills of credit, bills of credit were usually fiat money, they could not be exchanged for a fixed amount of gold or silver coins upon demand. Bills of credit were usually issued by governments to pay debts. The governments would then retire the currency by accepting the bills for payment of taxes, when colonial governments issued too many bills of credit or failed to tax them out of circulation, inflation resulted. This happened especially in New England and the colonies, which. Pennsylvania, however, was responsible in not issuing too much currency, pennsylvanias paper currency, secured by land, was said to have generally maintained its value against gold from 1723 until the Revolution broke out in 1775
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