The Manx pound is the currency of the Isle of Man, in parity with the pound sterling. The Manx pound is divided into 100 pence. Notes and coins, denominated in pounds and pence, are issued by the Isle of Man Government; the Isle of Man is in a one-sided de facto currency union with the United Kingdom: the Manx government has decided to make UK currency legal tender on the island, to back its own notes and coins with Bank of England notes. Manx government notes may, on demand, be exchanged at par for Bank of England notes of equivalent value at any office of the Isle of Man Bank. All notes and coins which are legal tender in any part of the United Kingdom are legal tender within the Isle of Man. Unlike Northern Irish and Scottish notes, the UK does not require the Isle of Man government to back the Manx notes and coins with Bank of England notes or securities. There is no restriction under UK law on the number of coins they may issue; the notes and coins are not underwritten by the UK government, there is no guarantee of convertibility beyond that given by the Manx authorities.
However, the requirement in the island's Currency Act 1992 for the Isle of Man Treasury to exchange Manx Pound banknotes on demand for Bank of England notes in practice restricts the issue of unbacked currency, the aggregate total of notes issued must be pre-approved by Tynwald. ISO 4217 does not include a separate currency code for the Manx pound, but where code distinct from GBP is desired, IMP is used. UK notes and coins are accepted in the Isle of Man, but Manx notes and coins are not accepted in the UK. To assist those travelling, the ATMs at the Sea Terminal, at Isle of Man Airport issue Bank of England notes only. A number of businesses accept euros; the first Manx coinage was issued in 1668 by John Murrey, a Douglas merchant, consisting of pennies equal in value to their English counterparts. These "Murrey Pennies" were made legal tender in 1679, when the Court of Tynwald outlawed the unofficial private coinage, circulating prior to and alongside John Murrey's pennies. Due to the difficulty of maintaining the supply of coins on the island, in 1692, the value of the Manx coinage was decreased, with English crowns circulating at 5 shillings 4 pence, half-crowns at 2 shillings 8 pence and guineas at 22 shillings.
At that time, Tynwald forbade the removal of money from the island, in an attempt to maintain supply. In 1696, a further devaluation occurred, with all English silver and gold coins valued at 14 Manx pence for every shilling. Between 1696 and 1840, Manx copper coins circulated alongside first English, British silver and gold coins at the rate of 14 pence to 1 shilling; as in England, there were 20 shillings to the pound. Thus, after 1696, £100 sterling was worth £116 13s 4d Manx. In 1708, the Isle of Man Government approached the Royal Mint, requested that coinage be issued for the island; the Master of the Mint, Sir Isaac Newton, refused. As a result, the first Government issue of coins on the island was in 1709; this coinage was made legal tender on 24 June 1710. In 1733 Tynwald prohibited the circulation of any "base" coinage other than that issued by the Government; because of the similarity between Manx and British coins, it was profitable to change shillings to Manx coinage and pass it off as British currency in Great Britain, making a profit of £2 for every £12 in Manx coinage so transferred.
This happened on such a scale that by 1830 the island was totally deprived of copper coinage. In an attempt to resolve this problem, a proposal was introduced to abandon the separate Manx coinage in favour of British coins; this was rejected by the House of Keys in 1834, but they were overruled by the British Government in 1839. An Act was passed declaring that "... the currency of Great Britain shall be and become, is hereby declared to be, the currency of the Isle of Man", this remains Manx law to this day. This change was resented: some islanders felt defrauded, there was serious rioting in Douglas and Peel; these were known as the "Copper Row" riots, were put down by the Manx militia. The Royal Mint issued a total of £1,000 in copper coins. Following an Act in 1840, these were valued at 12 pence to the shilling. All coins issued before 1839 were declared by this law to be no longer current, were recalled by the Board of Customs and exchanged by the Royal Mint at their original nominal value for the new coinage.
After 1839, no further Manx coins were issued, they became scarce and were replaced in general circulation on the island by the coinage of the United Kingdom. They did not cease to be legal coinage on Mann until decimalisation in 1971. Banknotes had been issued for the island since 1865. In 1971 the United Kingdom moved with the pound subdivided into 100 pence; the Isle of Man Government, having issued its own banknotes for ten years, took the opportunity to approach the Royal Mint and request its own versions of the decimal coins, which were introduced in 1971. The "Murrey Pennies" of 1668 were the first to depict the'triskeles' symbol and the Island motto "Quocunque Gesseris Stabit", both of which have continued to feature on Manx coinage until the present day. In 1709, pennies and halfpennies were introduced. More of these coins were issued in 1733; these issues of coins have the crest of the Stanley family, Lords of Mann, on the obverse, together
The Lebanese pound is the currency of Lebanon. It used to be divided into 100 piastres but high inflation in the Lebanese Civil War has eliminated the subdivisions; the plural form of lira, as used on the currency, is either lirat or the same, whilst there were four forms for qirsh: the dual qirshan, the plural qirush used with numbers 3–10, the accusative singular qirsha used with 11–99, or the genitive singular qirshi used with multiples of 100. In both cases, the number determines. Before the Second World War, the Arabic spelling of the subdivision was غرش. All of Lebanon's coins and banknotes are bilingual in French. Before World War I, the Ottoman lira was used. In 1918, after the fall of the Ottoman Empire, the currency became the Egyptian pound. Upon gaining control of Syria and Lebanon, the French replaced the Egyptian pound with a new currency for Syria and Lebanon, the Syrian pound, linked to the French franc at a value of 1 pound = 20 francs. Lebanon issued its own coins from 1924 and banknotes from 1925.
In 1939, the Lebanese currency was separated from that of Syria, though it was still linked to the French franc and remained interchangeable with Syrian money. In 1941, following France's defeat by Nazi Germany, the currency was linked instead to the British pound sterling at a rate of 8.83 Lebanese pounds = 1 pound sterling. A link to the French franc was restored after the war but was abandoned in 1949. Before the Lebanese Civil War, 1 U. S. dollar was worth 3 pounds. During the civil war the value decreased until 1992, when one dollar was worth over 2500 pounds. Subsequently the value increased again, since December 1997 the rate of the pound has been fixed at 1507.5 pounds per US$. Lebanon's first coins were issued in 1924 in denominations of 2 and 5 girush with the French denominations given in "piastres syriennes". Issues did not include the word "syriennes" and were in denominations of 1⁄2, 1, 2, 2 1⁄2, 5, 10, 25 and 50 girsha. During World War II, rather crude 1⁄2, 1 and 2 1⁄2 girsh coins were issued.
After the war, the Arabic spelling was changed from girsh to qirsh. Coins were issued in the period 1952 to 1986 in denominations of 1, 2 1⁄2, 5, 10, 25 and 50 qirsh and 1 lira. No coins were issued between 1994, when the current series of coins was introduced. Coins in current use are: Lebanon's first banknotes were issued by the Banque du Syrie et Grand-Liban in 1925. Denominations ran from 25 girsha through to 100 pounds. In 1939, the bank's name was changed to the Bank of Lebanon; the first 250-pound notes appeared that year. Between 1942 and 1950, the government issued "small change" paper money in denominations of 5, 10, 25 and 50 girsh or qirsh. After 1945, the Bank of Syria and Lebanon continued to issue paper money for Lebanon but the notes were denominated in "Lebanese pounds" to distinguish them from Syrian notes. Notes for 1, 5, 10, 25, 50 and 100 pounds were issued; the Banque du Liban was established by the Code of Money and Credit on 1 April 1964. On 1 August 1963 decree No. 13.513 of the “Law of References: Banque Du Liban 23 Money and Credit” granted the Bank of Lebanon the sole right to issue notes in denominations of 1, 5, 10, 25, 50, 100, 250 pounds, expressed in Arabic on the front, French on the back.
Higher denominations were issued in the 1980s and 1990s as inflation drastically reduced the currency's value. Banknotes in the current use are: All current notes feature an Arabic side with the value in Arabic script numerals of large size; the other side is in French with the serial number in both Arabic and Latin script and in bar code below the latter one. Economy of Lebanon Banque du Liban Historical and current banknotes of Lebanon
The livre was the currency of Kingdom of France and its predecessor state of West Francia from 781 to 1794. Several different livres existed; the livre was the name of both units of account and coins. The livre was established by Charlemagne as a unit of account equal to one pound of silver, it was subdivided into each of 12 deniers. The word livre came from a Roman unit of weight; this system and the denier itself served as the model for many of Europe's currencies, including the British pound, Italian lira, Spanish dinero and the Portuguese dinheiro. This first livre is known as the livre carolingienne. Only deniers were minted, but debasement led to larger denominations being issued. Different mints in different regions used different weights for the denier, leading to several distinct livres of different values. "Livre" is a homonym of the French word for "book", the distinction being that the two have a different gender. The monetary unit is la/une livre, while "book" is masculine, le/un livre.
For much of the Middle Ages, different duchies of France were semi-autonomous if not independent from the weak Capetian kings, thus each minted their own currency. Charters would need to specify which region or mint was being used: "money of Paris" or "money of Troyes"; the first steps towards standardization came under the first strong Capetian monarch, Philip II Augustus. Philip II conquered much of the continental Angevin Empire from King John of England, including Normandy and Touraine; the currency minted at the city of Tours in Touraine was considered stable, Philip II decided to adopt the livre tournois as the standard currency of his lands replacing the livre of Paris, the currencies of all French-speaking areas he controlled. This was a slow process lasting many decades and not completed within Philip II's lifetime; the result was that from 1200 onwards, following the beginning of King Philip II's campaigns against King John, the currency used within French speaking lands was in a state of flux, as the livre tournois was introduced into other areas.
Until the thirteenth century and onwards, only deniers were minted as coin money. Both livres and sous did not exist as coins but were used only for accounting purposes. Upon his return from the crusades in the 1250s, Louis IX instigated a royal monopoly on the minting of coinage in France and minted the first gold écu d'or and silver gros d'argent, whose weights were equivalent to the livre tournois and the denier. Between 1360 and 1641, coins worth 1 livre tournois were minted known as francs; this name persisted in common parlance for 1 livre tournois but was not used on coins or paper money. The official use of the livre tournois accounting unit in all contracts in France was legislated in 1549. However, in 1577, the livre tournois accounting unit was abolished and replaced by the écu, at that time the major French gold coin in actual circulation. In 1602, the livre tournois accounting unit was brought back. Louis XIII of France stopped minting the franc in 1641, replacing it with coins based on the silver écu and gold Louis d'or.
The écu and louis d'or fluctuated in value, with the écu varying between three and six livres tournois until 1726 when it was fixed at six livres. The louis was worth ten livres, fluctuated too, until its value was fixed at twenty-four livres in 1726. In 1667, the livre parisis was abolished. However, the sole remaining livre was still referred to as the livre tournois until its demise; the first French paper money was denominated in livres tournois. However, the notes did not hold their value relative to silver due to massive over–production; the Banque Royale crashed in 1720. In 1726, under Louis XV's minister Cardinal Fleury, a system of monetary stability was put in place. Eight ounces of gold was worth 9 sols; this led to a strict conversion rate between gold and silver and established the values of the coins in circulation in France at: the Louis d'or of 24 livres the double Louis d'or of 48 livres the demi-Louis d'or or half-Louis of 12 livres the écu of 6 livres or 120 sols, along with 1⁄2, 1⁄4 and 1⁄8 écu denominations valued at 60, 30 and 15 sols the sol denominated in 1 and 2 sol units valued at 1⁄20 livre per sol the denier denominated in 3 and 6 denier units valued at 1⁄4 and 1⁄2 sol respectively.
A coin of value 1 livre was not, minted. Yet in 1720 a special coin minted in pure silver was assigned an over-value of 1 livre. Additionally, France took Navarrese 20-sol coins minted in 1719 and 1720, re-struck them as 1⁄6 écu creating a coin worth 1 livre; these re-struck coins, however were assigned the value of 18 sols. A kind of paper money was reintroduced by the Caisse d'Escompte in 1776 as actions au porteur, denominated in livres; these were issued until 1793, alongside assignats from 1789. Assignats were backed by government-held land. Like the issues of the Banque Royale, their value plummeted; the last coins and notes of the livre currency system were issued in Year II of the Republic. In 1795, the franc was intro
The Ghanaian pound was the currency of Ghana between 1958 and 1965. It was subdivided into each of 12 pence; until 1958, Ghana used the British West African pound. In 1965, Ghana introduced the first cedi at a rate of 1 pound = 2.4 cedis. In 1958, Bronze coins were issued for ½ and 1 penny, along with cupro-nickel 3 and 6 pence, 1 and 2 shillings; the 3 pence coin was scalloped in shape. In 1958, banknotes were introduced in denominations of 1 and 5 pounds, they were produced until 1962, except for the 10 shillings, produced until 1963. Economy of Ghana
South Sudanese pound
The South Sudanese pound is the official currency of the Republic of South Sudan. It is subdivided into 100 piasters, it was approved by the Southern Sudan Legislative Assembly before secession on 9 July 2011 from Sudan. It was introduced on 18 July 2011, replaced the Sudanese pound at par; the banknotes feature the image of John Garang de Mabior, the deceased leader of South Sudan's independence movement. Six different denominations in the form of banknotes have been confirmed, five denominations will be issued in the form of coins. Three new banknotes for 5, 10, 25 piasters were issued 19 October 2011; the first circulation coins of the South Sudanese pound denominated in 10, 20, 50 piasters were issued 9 July 2015, on occasion of the fourth anniversary of independence from Sudan. In 2016, the Bank of South Sudan issued a 20 South Sudanese pound banknote to replace the 25 South Sudanese pound banknote. In 2018, the Bank of South Sudan introduced a 500 South Sudanese pounds banknote to ease daily cash transactions following years of inflation.
As part of a currency redesign to reduce confusion, a 1 Pound coin was released to replace the 1 Pound banknote, a coin for 2 Pounds has been released at the same time as the 1 Pound coin. The 10, 20 and 100 pound notes were all redesigned. In November 2016 the Governor of the Bank of South Sudan issued a statement dismissing as false reports claiming that the bank was printing new notes in denominations of 200, 500 and 1,000 pounds. Coins denominated 10, 20, 50 Piasters were put into circulation on 9 July 2015; as of 2016, South Sudan's coins are being struck at the South African Mint. Bimetallic coins denominated 1 Pound and 2 Pounds has been put into circulation during 2016; the Coat of arms of South Sudan with the country name'REPUBLIC OF SOUTH SUDAN' and the date will appear on the obverses. The various coins will include the following: 10 Piasters - Copper-plated Steel - Oil rig. 20 Piasters - Brass-plated Steel - Shoebill stork. 50 Piasters - Nickel-plated Steel - Northern white rhino. 1 Pound - Bronze-plated Steel centre / Nickel-plated Steel ring - Nubian giraffe.
2 Pounds - Nickel-plated Steel centre / Bronze-plated Steel ring - African Shield. Articles about the banknotes of South Sudan. Banknotes of South Sudan
The Israeli pound or Israeli lira was the currency of the State of Israel from 9 June 1952 until 23 February 1980, when it was replaced with the shekel on 24 February 1980, again replaced with the New Shekel in 1985. Until 1952, the name used on the notes of the Anglo-Palestine Bank was Palestine pound, in Hebrew לירה א"י. In Arabic, the name was given as junayh filisţīnī. On 1 May 1951, all the assets and liabilities of the Anglo Palestine Bank were transferred to a new company called Bank Leumi Le-Yisrael and the currency name became: lira yisraelit in Hebrew, junayh isrāīlī in Arabic, Israel pound in English; the new currency was issued in 1952, entered circulation on June 9. From 1955, after the Bank of Israel was established and took over the duty of issuing banknotes, only the Hebrew name was used, along with the symbol "I£"; the British Mandate of Palestine, which administered the territory now known as Israel, the West Bank and Gaza prior to May 15, 1948, issued the Palestine pound, a currency equal in value and pegged to the British pound, divided into 1000 mils.
Banknotes in circulation were issued by the Palestine Currency Board, subject to the British Secretary of State for the Colonies. Israel inherited the Palestine pound, but shortly after the establishment of the state, new banknotes were issued by the London-based Anglo-Palestine bank of the Zionist movement; the new coins were the first to bear the new state's name, the banknotes had "The Anglo-Palestine Bank Limited" written on them. While the first coins minted by Israel still bore the name "mil", the next ones bore the Hebrew name prutah. A second series of banknotes was issued after the Anglo-Palestine Bank moved its headquarters to Tel Aviv and became the Bank Leumi; the pegging to the UK Pound was abolished on January 1, 1954, in 1960, the subdivision of the pound was changed from 1000 prutot to 100 agorot. During the 1960s, a debate over the non-Hebrew name of the Israeli currency resulted in a law ordering the Minister of Finance to change the name pound into a Hebrew name, shekel; the law allowed the minister to decide on a proper date for the change.
The law did not come into effect until February 1980, when the Israeli government decided to change the monetary system and introduce the Israeli old shekel, at a rate of 1 shekel = 10 pounds. Israel's first coins were aluminium 25 mil pieces, dated 1948 and 1949, which were issued in 1949 before the adoption of the pruta. In 1949, coins were issued in denominations of 1, 5, 10, 25, 50, 100 and 250 prutah; the coins were conceived, by Israeli graphic designer Otte Wallish. All coins and banknotes issued in Israel before June 1952 were part of the Palestine pound. In 1960, coins were issued denominated in agora. There were 5, 10 and 25 agorot pieces. In 1963, 1/2 and 1 pound coins were introduced, followed by 5 lirot coins in 1978. In 1948, the government issued fractional notes for 100 mils; the Anglo-Palestine Bank issued banknotes for 500 mils, 1, 5, 10 and 50 lirot between 1948 and 1951. In 1952, the government issued a second series of fractional notes for 50 and 100 prutah with 250 prutah notes added in 1953.
In 1952, the "Bank Leumi Le-Israel" took over paper money production and issued the same denominations as the Anglo-Palestine Bank except that the 500 mils was replaced by a 500 prutah note. The Bank of Israel began note production in 1955 issuing notes for 500 pruta, 1, 5, 10 and 50 lirot. In 1968, 100 lirot notes were introduced, followed by 500 lirot notes in 1975. In the third banknote issue, released between 1973 and 1975, a feature was added to assist vision-impaired and blind people in identifying the denomination of a note. A tactile set of dots was used, with three on the five pound note, two on the 10 pound note, one on the 50 pound note, none on the 100 pound note, a large bar the length of three dots on the 500 pound note. Bank of Israel Economy of Israel Paul Kor Bank of Israel catalogue of Israeli currency since 1948 Israeli Lirah coins with pictures
The Egyptian pound is the currency of Egypt. It is divided into ersh, or 1,000 milliemes; the Egyptian pound is abbreviated as LE or L. E. which stands for livre égyptienne. E£ and £E are used on the internet; the name Genēh is derived from the Guinea coin, which had the same value of 100 piastres at the end of the 19th century. In 1834, a khedival decree was issued, adopting an Egyptian currency based on a bimetallic standard on the basis of the Maria Theresa thaler, a popular trade coin in the region; the Egyptian pound, known as the geneih, was introduced, replacing the Egyptian piastre as the chief unit of currency. The piastre continued to circulate as 1⁄100 of a pound, with the piastre subdivided into 40 para. In 1885, the para ceased to be issued, the piastre was divided into tenths; these tenths were renamed milliemes in 1916. The legal exchange rates were fixed by force of law for important foreign currencies which became acceptable in the settlement of internal transactions; this led to Egypt using a de facto gold standard between 1885 and 1914, with E£1 = 7.4375 grams pure gold.
At the outbreak of World War I, the Egyptian pound was pegged to the British pound sterling at EG£0.975 per GB£1. Egypt remained part of the Sterling Area until 1962, when Egypt devalued and switched to a peg to the United States dollar, at a rate of EG£1 = US$2.3. This peg; the pound was itself devalued in 1978 to a peg of 1 pound. The pound floated in 1989. However, until 2001, the float was managed by the Central Bank of Egypt and foreign exchange controls were in effect; the Central Bank of Egypt voted to end the managed-float regime and allowed the pound to float on 3 November 2016. The official rate fell twofold; the Egyptian pound was used in Anglo-Egyptian Sudan between 1899 and 1956, Cyrenaica when it was under British occupation and an independent emirate between 1942 and 1951. The National Bank of Egypt issued banknotes for the first time on 3 April 1899; the Central Bank of Egypt and the National Bank of Egypt were unified into the Central Bank of Egypt in 1961. Several unofficial popular names are used to refer to different values of Egyptian currency.
These include nekla for 2 milliemes, ta'rifa for 5 milliemes, shelen for 5 piastres, bariza for 10 piastres, reyal for 20 piastres. Since the piastre and millieme are no longer legal tender, the smallest denomination minted being the 25-piastre coin, these terms have fallen into disuse and survive as curios. A few have survived to refer to pounds: bariza now refers to a ten-pound note and reyal can be used in reference to a 20-pound note. Different sums of EGP have special nicknames, for example: 1 EGP Bolbol meaning nightingale or Gondi meaning soldier, 1,000 EGP baku "pack". Between 1837 and 1900, copper 1 and 5 para*, silver 10 and 20 para, 1, 5, 10 and 20 piastre, gold 5, 10 and 20 piastre and 1 pound coins were introduced, with gold 50 piastre coins following in 1839. Copper 10 para coins were introduced in 1853. Copper 10 para coins were again introduced in 1862, followed by copper 4 para and 21⁄2 piastre coins in 1863. Gold 25 piastre coins were introduced in 1867. In 1885, a new coinage was introduced consisting of bronze 1⁄4, 1⁄2, 1, 2 and 5 millieme, silver 1, 2, 5, 10 and 20 piastre coins.
The gold coinage ceased, with only small numbers of 5 and 10 piastre coins issued. In 1916 and 1917, a new base metal coinage was introduced consisting of bronze 1⁄2 millieme and holed, cupro-nickel 1, 2, 5 and 10 millieme coins. Silver 2, 5, 10 and 20 piastre coins continued to be issued, a gold 1 pound coin was reintroduced. Between 1922 and 1923, the gold coinage was extended to include 20 and 50 piastre and 1 and 5 pound coins. In 1924, bronze replaced cupro-nickel in the 1 millieme coin and the holes were removed from the other cupro-nickel coins. In 1938, bronze 5 and 10 millieme coins were introduced, followed in 1944 by silver, hexagonal 2 piastre coins. Between 1954 and 1956, a new coinage was introduced, consisting of aluminium-bronze 1, 5 and 10 millieme and silver 5, 10 and 20 piastre coins, with the size of the silver coinage reduced. An aluminium-bronze 2 millieme coin was introduced in 1962. In 1967 the silver coinage was abandoned and cupro-nickel 5 and 10 piastre coins were introduced.
Aluminium replaced aluminium-bronze in the 1, 5 and 10 millieme coins in 1972, followed by brass in the 5 and 10 millieme coins in 1973. Aluminium-bronze 2 piastre and cupro-nickel 20 piastre coins were introduced in 1980, followed by aluminium-bronze 1 and 5 piastre coins in 1984. In 1992, brass 5 and 10 piastre coins were introduced, followed by holed, cupro-nickel 25 piastre coins in 1993; the size of 5 piastre coins was reduced in 2004, 10 and 25 piastre coins - in 2008. On June 1, 2006, 50 piastre and 1 pound coins dated 2005 were introduced, its equivalent banknotes were phased out and disappeared from circulation in 2010; the coins bear the face of Cleo