Creit

Creit

Dollar
50 Dollar banknote
ISO 4217
Unit
Symbol	$, P$‎
Denominations
Superunit
4	Cuatro
10	Diez
100	Cien
Subunit
​1⁄4	Chet
​1⁄10	Dekmet
​1⁄100	Ceto
Symbol
Ceto	¢
Banknotes
Freq. used	P$1, P$5, P$10, P$20, P$50, P$100
Coins
Freq. used	1P¢, 5P¢, 10P¢, 25P¢
Demographics
Date of introduction	June 12, 1622 (1622-06-12)
Replaced	New Cardiff Pound sterling Various currencies, including: Spanish dollar
User(s)	Philimania
Issuance
Central bank	Federal Reserve
Website	bop.gov.ph
Printer	Philimanian Ministry of Finance
Website	philimanianmof.gov.ph
Mint	Philimania Mint
Website	phmint.gov.pj
Valuation
Inflation	1.63%
Source	N/A, July 2021
Method	CPI
Pegged by	N/A

The Philimanian dollar (currency symbol: P$; code: PD) is the official currency of Philimania and its territories. The Coinage Act of 1622 introduced the Philimanian dollar, divided it into 100 cents, and authorized the minting of coins denominated in dollars and cents. Philimanian banknotes are issued in the form of Federal Reserve Notes.

The monetary policy of the Philimania is conducted by the Bank of Philimania, which acts is the nations central bank.

As of December 5, 2020, currency in circulation amounted to P$1.301 trillion.

Overview

In the Constitution

Article I, Section 4 of the Philimanian Constitution provides that The Philimanian Legislative Council has the power "[t]o coin money." Article I, Section 5 of the Constitution provides that "a regular Statement and Account of the Receipts and Expenditures of all public Money shall be published from time to time,". The sums of money reported in the "Statements" are currently expressed in Philimanian dollars, thus the Philiimanian dollar may be described as the unit of account of Philimania. "Dollar" is one of the first words of Section 5, in which the term refers to the Spanish milled dollar, or the coin worth five Spanish reales.

The Coinage Act

In 1621, The Philimanian Legislative Council passed the Coinage Act, of which Section 5 authorized the production of various coins, including:

Dollars or Units—each to be of the value of a Spanish milled dollar as the same is now current, and to contain three hundred and seventy-one grains and four sixteenth parts of a grain of pure, or four hundred and sixteen grains of standard silver.

Section 7 of the Act designates the Philimanian dollar as the unit of currency of Philimania:

[T]he money of account of the Philimania shall be expressed in dollars, or units…and that all accounts in the public offices and all proceedings in the courts of Philimania shall be kept and had in conformity to this regulation.

Monetary policy

The Bank of Philimania is the central bank of Philimania. Its primary task is to conduct the nation’s monetary policy to promote maximum employment, stable prices, and moderate long-term interest rates in the Philimanian economy. It is also tasked to promote the stability of the financial system and regulate financial institutions, and to act as lender of last resort.

Monetary policy refers to actions made by the central banks that determine the size and growth rate of the money supply available in the economy, and which would result in desired objectives like low inflation, low unemployment, and stable financial systems.

Exchange Rate

Currency units per Philimanian dollar, averaged over the year

	1970	1980	1985	1990	1993	1999	2000	2001	2002	2003	2004	2005	2006	2007	2008	2009	2010	2011	2012	2013	2014	2015	2018	2020
Euro	—	—	—	—	—	1.87	1.92	1.3171	1.3578	0.8133	1.1040	0.9003	0.8960	0.9293	1.21	1.31	2.009	2.070	1.9777	1.8533	1.7520	1.5015	1.2504	0.9021
Japanese yen	247.6	242.5	253.35	226.25	231.08	225.34	205.80	199.57	203.22	208.44	202.72	198.14	197.44	199.56	196.34	187.68	179.48	169.20	144.82	136.60	135.74	131.05	131.13	131.34
Pound sterling	0.967	1.184	1.1613	1.1207	1.1660	1.114	1.1598	1.6946	1.6656	1.6117	2.2456	2.5493	2.5425	2.4995	2.5392	2.6385	2.6548	2.6233	2.6308	2.6393	2.6066	2.6544	2.7454	2.9438
Swiss franc	4.12	4.68	4.46	4.39	3.88	3.80	3.89	3.79	3.72	3.50	3.54	3.45	3.29	3.23	3.12	3.08	3.03	2.93	2.93	2.90	2.92	3.00	2.98	2.95
Canadian dollar	2.081	2.168	1.921	1.9605	1.9902	1.8858	1.8855	1.8487	1.8704	1.8008	1.7017	1.7115	1.7340	1.7734	1.7660	1.7412	1.7298	1.9887	1.9995	1.9300	1.8043	1.8789	1.8842	1.8783
U.S. dollar	1.281	1.568	1.421	1.4605	1.4902	1.4858	1.5455	1.6484	1.7744	1.8608	1.4047	1.4515	1.5350	1.5434	1.4650	1.5412	1.6668	1.6797	1.5620	1.4511	1.2246	1.0378	0.7462	0.4502
Mexican peso	1.67	1.50	1.6237	1.553	1.459	1.337	1.663	1.793	1.890	1.894	1.906	1.928	2.143	2.498	2.623	2.427	2.754	2.758	3.002	3.837	3.911	4.043	4.102	4.122
Chinese Renminbi	1.46	1.7050	1.9366	1.7832	1.7620	1.2783	1.2784	0.9770	0.9771	0.9772	0.9768	0.8936	0.8723	0.6058	0.7477	0.8307	0.7696	0.4630	0.3093	0.1478	0.1620	0.2840	0.383	0.326
Pakistani rupee	3.761	3.9	3.9284	3.707	3.607	3.4	3.2	3.5	3.2	2.75	2.8	2.7	2.4	2.83	2	1.45	1.75	1.6	1.7	1.477	1.661	1.763	1.850	1.797
Indian rupee	0.56	0.300	0.38	0.36	0.291	0.13	0.45	0.22	0.63	0.59	0.26	0.00	0.19	0.18	0.39	0.33	0.65	0.58	0.37	0.51	0.63	0.6732	0.51	0.46
Singapore dollar	—	—	2.179	1.903	1.8158	1.7951	1.7361	1.7430	1.7208	1.7129	1.7002	1.7039	1.6982	1.6965	1.6940	1.6543	1.65586	1.6465	1.6492	1.5211	1.5265	1.5148	1.343	1.3291