Chervonets (currency): Difference between revisions
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The word korona is derived from another old Rumelian word, ''korona'', meaning crown. In modern language the word became ''diara'', however, the word korona remained the official name of the currency. | The word korona is derived from another old Rumelian word, ''korona'', meaning crown. In modern language the word became ''diara'', however, the word korona remained the official name of the currency. | ||
==History== | |||
===First corona (1989-2017)=== | |||
The korona was introduced as Romellea's currency in 1989 with a value equal to the [[Midrasian Ducat]]. It was introduced after the Financial Reforms of 1987-1989 and the sign of the West Catai Economic Pact of 198x. The government aimed to establish not only a stable national currency but also to make it the standard currency throughout Western Catai. Banknotes issued until 1999 were backed by gold ("korone zlato" or "zlatne") or silver ("korone srebro" or "srebrene"). | |||
In 1999, a new gold standard of 1 korona = 10.86956 mg gold was established. | |||
In 1989, the Federal Bank of Romellea introduced notes for 20 and 50 gold korone, followed in 1990 by 100 gold korone and, in 1992, by 5 and 10 gold korone notes. In 1994, 5, 10 and 50 silver korone notes were issued, followed by 100 and 500 silver korone in 1996. | |||
In 1997, coins up to 10 korone replaced notes, although 10-korone notes were issued between January 1997 and March 1998. Between 1989 and 1999, State Treasury Bills for 1000 and 5000 korone were issued. | |||
====Banknotes==== | |||
===Second corona (2017- )=== | |||
The korona underwent another major reform in 2017. Most notably, the Federal Assembly obligated the Federal Mint to protect and ensure the stability of the currency. Also, the korona pegged with the NationStates Dollar. The overall outlook of the banknotes was changed as well, 10- and 1000-korona banknotes were issued together with the classical 20, 50 and 100. The korona was freezed at an exchange rate of between 2.20 and 2.30 korone for 1 NSD, and this rate is ensured by the Mint. | |||
====Banknotes==== | |||
Revision as of 03:13, 1 April 2019
| Federalna Korona | |
|---|---|
 1000 koroni banknote (2017) | |
| ISO 4217 | |
| Unit | |
| Plural | koroni, numeric: korone |
| Symbol | FRC. |
| Nickname | kint (100 korone), pačka (generally used for banknote packs), zeleno (lit. green, used for all banknotes) |
| Denominations | |
| Superunit | |
| 1000 | bon |
| Subunit | |
| 1/100 | gerbejec |
| Plural | |
| gerbejec | gerbejke |
| Banknotes | |
| Freq. used | 10, 20, 50, 100 korone |
| Rarely used | 1000 korone |
| Coins | 1, 2, 5, 10, 20, 50 gerbejke, 1, 2, 5 korone |
| Demographics | |
| User(s) |  Romellenic Federation |
| Issuance | |
| Central bank | Romellenic federal treasury |
| Website | www |
| Mint | Federal Mint |
| Website | www |
| Valuation | |
| Pegged with | NationStates dollar ($) = 2.2388 korone |
The corona (Rumelian: korona, plural: koroni, korone) is the currency of Romellea. It is divided in 100 gerbejci (singular: gerbejec). In old Rumelian the word "Gerbejec" meant "crest", a word which in the modern language became gerb (in Rumelian: gerb). The coins are called gerbejci due to the Romellenic coat of arms displayed on them.
The word korona is derived from another old Rumelian word, korona, meaning crown. In modern language the word became diara, however, the word korona remained the official name of the currency.
History
First corona (1989-2017)
The korona was introduced as Romellea's currency in 1989 with a value equal to the Midrasian Ducat. It was introduced after the Financial Reforms of 1987-1989 and the sign of the West Catai Economic Pact of 198x. The government aimed to establish not only a stable national currency but also to make it the standard currency throughout Western Catai. Banknotes issued until 1999 were backed by gold ("korone zlato" or "zlatne") or silver ("korone srebro" or "srebrene").
In 1999, a new gold standard of 1 korona = 10.86956 mg gold was established.
In 1989, the Federal Bank of Romellea introduced notes for 20 and 50 gold korone, followed in 1990 by 100 gold korone and, in 1992, by 5 and 10 gold korone notes. In 1994, 5, 10 and 50 silver korone notes were issued, followed by 100 and 500 silver korone in 1996.
In 1997, coins up to 10 korone replaced notes, although 10-korone notes were issued between January 1997 and March 1998. Between 1989 and 1999, State Treasury Bills for 1000 and 5000 korone were issued.
Banknotes
Second corona (2017- )
The korona underwent another major reform in 2017. Most notably, the Federal Assembly obligated the Federal Mint to protect and ensure the stability of the currency. Also, the korona pegged with the NationStates Dollar. The overall outlook of the banknotes was changed as well, 10- and 1000-korona banknotes were issued together with the classical 20, 50 and 100. The korona was freezed at an exchange rate of between 2.20 and 2.30 korone for 1 NSD, and this rate is ensured by the Mint.