Chervonets (currency)

Chervonets

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.kazna-gov.rf
Mint	Federal Mint
Website	www.medarna-gov.rf
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

1999 series

Image		Value	Dimensions	Description			Date of
Obverse	Reverse			Obverse	Reverse	Watermark	printing	issue	withdrawal	lapse
	-	20 FRC	126 × 70 mm	Tsvetan Lazarov, Romellenic aviation pioneer	-	Logo of the first airline in Romellea, Flarava Air Lines	1999	12 October 1999	Current, but not issued since 2017
	-	50 FRC	126 × 70 mm	Teodosiy Kardalev, Romellenic inventor and physicist.	-	Kardalev's steam car, 1889	1999	12 October 1999
	-	100 FRC	126 × 70 mm	Boris Karaivanov, Romellenic architect, Sredetz Royal Palace, Statue of the Bronze General, Sredetz.	-	Kardalev's steam car, 1889	1999	12 October 1999

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.