New Alexandrian écu
|
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 The information below may be incomplete, outdated, or subject to change.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. The écu is divided into 100 cents and is inspired by the currency of Alduria and Alexandria.
The currency is also used officially in other parts of the world, such as Constancia, Ransenar, and in the Natopian demesne of Dos Gardenias.
The name écu was officially 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 sol as the official currency of the Federation. Both currencies are being phased out over the course of the next five years, 1685 AN-1690 AN.
History
- The écu was the official currency of Alexandria. Later, Alduria adopted it as a nod to its Alexandrian heritage.
- The sol was the official currency of the Wechua Nation. It was a very weak currency that didn't quite obtain durable stability and dependability until the early 1680's.
- Proposals to create a common market between Alduria and the Wechua Nation were always plentiful. Both nations grew close in trade and due to sharing cultural heritage. Many of these proposals did not catch fire until the 1680's, with the arrival of Neo Aldricism to Alduria and to the Wechua Nation.
- Committee for Alduro-Wechu Integration.
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 as well as the operation of the national payment systems. The FBNA is also responsible for setting monetary policy and maintaining the stability of the écu by monitoring the monetary and financial systems of the member states. It is an independent institution with a high degree of autonomy in its decision-making processes, with the goal of preserving the value and purchasing power of the écu.
The bank has its own board of governors and conducts its operations in accordance with the principles of sound monetary policy and sustainable economic growth. The bank 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 has become 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 also recognized as a benchmark for stability and reliability, and is used in a variety of financial transactions and investments. The New Alexandrian écu continues to play an important role in the economic growth and stability of the Federation of Nouvelle Alexandrie.
Currency sign
The currency sign that represents the New Alexandrian écu is €. Before the creation of the écu, the same currency sign was in wide issue by multiple countries, past and present, notably the Shirerithian erb, the Ransenari erb, among others.
The placement of the currency sign relative to the numeric amount varies widely. Internal New Alexandrian regulations however have stated that it should precede the amount, but these are only applicable to government departments and agencies.
