Montecaran libra

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Montecaran libra
lìbra Montecarà (Montecaran)
MC-L50obv.png
A currently issued 50-libra note
ISO 4217
CodeMCL
Denominations
Subunit
 1/12
1/100
ònçia (historic)
çèntima (electronic only)
Plurallibrà
 ònçia (historic)
çèntima (electronic only)
onçià
çentimà
SymbolŁ
 ònçia (historic)
çèntima (electronic only)
ø
none
Banknotes
 Freq. usedŁ20, Ł50, Ł100, Ł200, Ł500
 Rarely usedŁ1,000
Coins
 Freq. usedŁ1, Ł2, Ł5, Ł10
Demographics
User(s) Montecara
Issuance
Central bankBànca de Montecara
 Websitebanca.go.mc
Valuation
Inflation1.80%
 SourceSecretariat of Finance (Q4 2019)
ValueLink: real-time value

The Montecaran libra is the official currency of Montecara. It is issued by the Bànca de Montecara. It has a floating exchange rate and is one of the ten most-traded currencies in the world.

History

The libra is ultimately derived from the troy pound of silver that formed the basis of the monetary system in the Solarian Republic; “libra” is the Solarian word for “pound.” From classical times to 1870, the libra was on the silver standard; between then and 1951, it was on a bimetallic gold and silver standard, where the price of gold was periodically readjusted to the price of silver. The convertibility of the libra to gold ended in 1982, when the Bànca de Montecara decided to make the libra a fiat currency and let its value float on the international market.

Until 1982, the libra was subdivided into 12 onçià and each ònçia was in turn divided into 30 scrupi. Thus, the libra was equal to 360 scrupi. That system was abandoned in favor of a decimal system (for electronic transactions) and ¼ and ½ libra coins for cash transactions.

Having a floating exchange rate allows Montecara to maintain a sovereign monetary policy without imposing capital controls.

Coins

Image Value Diameter
(mm)
Thickness
(mm)
Mass
(g)
Composition Edge Description
Obverse Reverse
Libra1.png Ł1 20 1.60 4.31 Nickel silver Smooth Denomination, bank mark, and year Heraldic arms of Saint Stephen
Libra2.png Ł2 22.4 1.80 6.08 Nickel silver Smooth Denomination, bank mark, and year Wreath of coral and trident
Libra5.png Ł5 25 2.00 8.41 Nickel silver Smooth Denomination, bank mark, and year Scallop shell and waves
Libra10.png Ł10 28 2.24 9.67 Nordic gold Smooth Denomination, bank mark, and year Coat of arms of Montecara

Banknotes

Image Value Dimensions
(mm)
Ł20 148 × 70
MC-L50obv.png MC-L50rev.png Ł50 135 × 82
Ł100 165 × 106
Ł200 181 × 115
Ł500 200 × 125
Ł1,000 216 × 131