New Alexandrian écu
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This article or section is a work in progress. The information below may be incomplete, outdated, or subject to change. |
| New Alexandrian écu | |
| Denominations | |
|---|---|
| Subunit | |
| 1⁄100 | Centimes |
| Symbol | NAX€ |
| Nickname | "Escudo" |
| Banknotes | NAX€1, NAX€5, NAX€10, NAX€20, NAX€50, NAX€100 |
| Coins | 1¢, 5¢, 10¢, 25¢, WAE€1, WAE€2, WAE€5 |
| Demographics | |
| User(s) |
 Nouvelle Alexandrie |
| Unofficial user(s) | |
The New Alexandrian écu (NAX€) is the official currency of the Federation of Nouvelle Alexandrie. It is also used in Constancia, Ransenar, and the Natopian demesne of Dos Gardenias. The currency is divided into 100 cents and is inspired by the currencies of Alduria and Alexandria. The name écu was adopted in 1685 AN after the passage of the National Economy Act by the Federal Constituent Assembly. It replaced both the Aldurian écu and the Wechua solas the official currency of the Federation. Both currencies were phased out over the next five years, 1685 AN-1690 AN, as the country built a new financial and banking system.
History
The écu was originally the official currency of Alexandria and was later adopted by Alduria as a nod to its Alexandrian heritage. The sol was the official currency of the Wechua Nation, but it was a weak currency until the early 1680's. Proposals to create a common market between Alduria and the Wechua Nation became more popular in the 1680s with the arrival of Neo Aldricism to both nations. The Committee for Alduro-Wechu Integration was established to work towards this goal. It was the work of this Committee that led to the creation of the Federation.
Administration
The écu is managed and administered by the Federal Bank of Nouvelle Alexandrie (FBNA) based in Cárdenas. The FBNA consists of the Bank itself and the former national central banks of Alduria and the Wechua Nation. The FBNA participates in the printing, minting, and distribution of notes and coins and operates the national payment systems. The bank is responsible for setting monetary policy and preserving the stability of the écu. The FBNA is an independent institution with a high degree of autonomy in decision-making processes. The bank has a board of governors and operates through a network of regional branches and offices located throughout the member states, with the headquarters located in Cárdenas.
Characteristics
The New Alexandrian écu is a well-regarded currency with a stable exchange rate and low inflation. It is widely used as a medium of exchange and store of value, both domestically and internationally. The currency is recognized as a benchmark for stability and reliability, and is used in various financial transactions and investments. The New Alexandrian écu continues to play an important role in the economic growth and stability of Nouvelle Alexandrie.
Currency Sign
The currency sign representing the New Alexandrian écu is €. The same currency sign was previously used by multiple countries such as the Shirerithian erb and the Ransenari erb. Internal New Alexandrian regulations state that the currency sign should precede the numeric amount, but this is only applicable to government departments and agencies.
Coins and Banknotes
The New Alexandrian écu has banknotes in denominations of:
- NAX€1;
- NAX€5;
- NAX€10;
- NAX€20;
- NAX€50;
- NAX€100.
Coins are available in 1¢, 5¢, 10¢, 25¢, NAX€1, NAX€2, and NAX€5 denominations.
Payments Clearing and Electronic Funds Transfer
The Federal Bank of Nouvelle Alexandrie provides clearing services for payments made in the New Alexandrian écu and facilitates electronic funds transfers between financial institutions.
POSTBank is also a trusted and reliable institution that offers its customers a convenient and secure electronic funds transfer services, helping them to easily transfer funds from one account to another.
Exchange Rates
Exchange rates for the New Alexandrian écu are determined by the Federal Bank of Nouvelle Alexandrie, based on market conditions and other economic factors.
