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 The information below may be incomplete, outdated, or subject to change.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€), colloquially known as the "Escudo", is the official currency of the Federation of Nouvelle Alexandrie. It is divided into 100 centimes and it is also accepted as a method of payment in Constancia, Ransenar, and the Natopian demesne of Dos Gardenias.
Origins
The écu has its roots in the monetary systems of Alduria and Alexandria, which inspired its name. The écu was initially the official currency of Alexandria, later adopted by Alduria in homage to its Alexandrian heritage. However, the need for a unified currency grew apparent with the increasing economic cooperation between Alduria and the Wechua Nation, leading to the establishment of the Committee for Alduro-Wechu Integration. In 1685 AN, the Federal Constituent Assembly passed the National Economy Act, marking the birth of the New Alexandrian écu. The newly created currency replaced the Aldurian écu and the Wechua sol, thus consolidating the Federation's financial system.
Design and Denominations
The New Alexandrian écu comes in both coin and banknote forms. Banknotes are available in denominations of NAX€1, NAX€5, NAX€10, NAX€20, NAX€50, and NAX€100. Coins are minted in denominations of 1¢, 5¢, 10¢, 25¢, NAX€1, NAX€2, and NAX€5. The currency sign representing the New Alexandrian écu is €, a symbol previously used by multiple countries such as the Shirerithian erb and the Ransenari erb.
Administration
The Federal Bank of Nouvelle Alexandrie (FBNA), based in Cárdenas, holds the responsibility of managing and administering the écu. The FBNA oversees the printing, minting, and distribution of notes and coins, operates the national payment systems, sets monetary policy, and ensures the stability of the écu. It maintains a high degree of autonomy, guided by a board of governors and operating through a network of regional branches and offices located throughout the member states.
Economic Impact
The New Alexandrian écu is a trusted currency with a stable exchange rate and low inflation. Its reliability has made it a preferred medium of exchange and store of value, not only domestically but also internationally. The currency's stability has contributed significantly to the economic growth and financial health of Nouvelle Alexandrie.
Electronic Funds Transfer
The FBNA, along with POSTBank, provides clearing services for payments made in the New Alexandrian écu and facilitates electronic funds transfers between financial institutions.
Exchange Rates
The exchange rates for the New Alexandrian écu are determined by the FBNA, based on market conditions, international trade, inflation, and an array of economic indicators.
| Currency | Exchange Rate (1 NAX€ =) |
|---|---|
| Craitish Cräite (₢) | TBD |
| Constancian Imperial Stater (C$) | TBD |
| Natopian Natopo (₦) | TBD |
| Shirerithian Erb (S€) | TBD |
| Benacian Sovereign (ß) | TBD |
