Ransenari erb
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This article or section is a work in progress. The information below may be incomplete, outdated, or subject to change. |
| Ransenari erb | |
 | |
| Denominations | |
|---|---|
| Subunit | |
| 1⁄100 | Sovereigns |
| Symbol | R€ |
| Banknotes | R€1, R€5, R€10, R€20, R€50, R€100 |
| Coins | 1 Srs, 5 Srs, 10 Srs, 25 Srs, R€1 |
| Demographics | |
| User(s) |
 Ransenar |
| Pegged with |
 Avak (1676-1680 AN) |
The Ransenari erb is the currency and legal tender of the Kingdom of Ransenar. The Bank of Ransenar issues banknotes and the national mint Royal Mint issues coins. The currency is also in use in the Sovereign Confederation, Alduria, and the Wechua Nation. From 1676 to 1680 AN, the Ransenari erb was pegged to the value of the Sovereign Confederation's currency, the Avak.
The Ransenari erb is divided into 100 Sovereigns. The erb has been in use since 1673 AN, when it replaced the Shirerithian erb.
The currency sign for the Ransenari erb ⟨R€ ⟩ is a continuation of the Shirerithian erb's currency sign.
History
The origin of the name "erb" comes from the Shirerithian Seventh Republic, using the "E" shape of the erb as inspiration for the name. Originally the symbol of the currency was part of the name but over time this changed as the spelling lost popularity.
From the formation of the modern Kingdom of Ransenar in 1673 AN, the old Imperial banknotes continued to be issued by the regional branches of the Assayers as the Ransenari erb which was pegged to the Avak. In 1674, the minting of the Ransenari erb passed to the newly created Bank of Ransenar and the Royal Mint.
Prior to the currency peg to the Avak in 1676 AN, the Bank of Ransenar and the government of Ransenar maintained a careful and conservative fiscal and monetary policy, gradually introducing various market-based economic reforms. In addition, the accession of Ransenar to the Raspur Pact opened up more markets to Ransenari exports. The signing of free trade agreements with the Republic of Alduria helped the Ransenari economy become more competitive, while heavy investment in its industrial and scientific base allowed the nascent country to take advantage of increasing exports opportunities and opening new markets for its products and services. As a result of a defense pact, the Unified Governorates of Benacia obtains 20% of Ransenar's agricultural output in exchange for the training and development of the Ransenari armed forces and the maintenance of a defense force in Ransenar. This has led to the creation of many jobs supporting the UGB troops and the nascent Ransenari military-industrial complex.
Since 1675 AN, the Ransenari erb has been a freely convertible currency.
Coins
In 1675, coins in denominations of 1 Srs, 5 Srs, 10 Srs, 25 Srs, R€1 were introduced. From 1675-1678 AN, the government of Ransenar introduced R€5 coins into circulation. Production of these coins ceased in 1678 AN, and are currently being removed from circulation.
