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Imperial stater

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Imperial stater
Imperial Stater
Imperial Stater Olympia.jpeg
$20 coin struck during the reign of Olympia, using her temple name of Berenice.
MOS–4
Code COS
Denominations
Subunit
 1/100 Drachma (only for accounting purposes)
Banknotes
 Freq. used $ 20, $ 50, $ 100
 Rarely used $ 500, $ 1000
Coins
 Freq. used $ 1, $ 5, $ 10,
 Rarely used $ 20
Demographics
Issuance
Central bank Basileusan Bank

The Imperial Stater (CON $) is the official currency of the Imperial State of Constancia.

History

The Imperial Stater was a fresh issuance of fiat currency, backed by the strength and prestige of the Constancian State and economy after the disastrous effects of the Euran War and its related difficulties, such as the complete destruction of Vey. Effective 1 Phoinikaios 1654 (1.XV.1654), the Stater was declared the official currency and legal tender for all public and private debts in Constancia.

As of 1653, the exchange rate of the Imperial Stater was:

3 Constancian Staters = 1 Imperial Erb of Shireroth
1 Constancian Stater = 0.33 Imperial Erb of Shireroth:


4 Constancian Stater = 1 Natopian Natopo
1 Constancian Stater = 0.25 Natopian Natopo

This valuation was deemed too optimistic, as evidenced by the appearance of a rival currency black market, with more realistic exchange rates, in Aqaba. With the establishment of the Imperial State by the promulgation of the Magna Carta of 1667, the Stater was renamed into the Imperial Stater.

At 25.VII.1670, the exchange rate of the Imperial Stater was fixed as follows:

1 Imperial Stater = 0.0016 Shirerithian Erb
1 Shirerithian Erb = 642.56 Imperial Stater
1 Imperial Stater = 0.00020 Natopian Natopo
1 Natopian Natopo = 4,911.04 Imperial Stater
1 Imperial Stater = 0.000018 Craitish Cräite
1 Craitish Cräite = 55,687.65 Imperial Stater

The Imperial Stater valuation via currency board was soon abandoned in favor of a floating, market-determined rate, with the Basileusan Bank engaging in open market operations as the need arose. Negotiations with Raspur Pact economic partners soon resulted in the Basileusan Bank ensuring a significant reserve in former Kalgarrands, now Benacian Sovereigns, the Alduro-Wechua écu, the Craitish Cräite, and the Natopo.

As of 1690, the Imperial Stater averages valuation of 0.02 Natopos, or 1 Natopo resulting to around 50 Imperial Staters, but opened on the first day of 1691 at 48.91 Imperial Staters to the Natopo.

The continued strengthening of the Constancian economy resulted in an improved valuation of the Imperial Stater in 1700, as well as its use as a reserve currency, with the Imperial Stater averaging valuation of 1 Natopo resulting to around 20 Imperial Staters, and 1 New Alexandrian écu (€) resulting to around 10 Imperial Staters.

Administration

The Imperial Stater is managed and administered, and fully guaranteed by the Basileusan Bank.

Excluding commemorative notes and coins, there are about 3.9 billion pieces of notes valued at $ 1.3 trillion and 31.8 billion pieces of coins valued at $ 39.5 billion in circulation as of 1.I.1687.


Characteristics

Currency sign

The currency sign that represents the Imperial Stater is $.

Banknotes

Constancia