Philimanian Dollar

Philimanian Dollar
Dollar
Philimanian Dollar.png
100 Dollar banknote
ISO 4217
CodePD
Number606
Exponent2
Denominations
Superunit
 4Cuatro
 10Diez
 100Cien
Subunit
 ​14Chet
 ​110Dekmet
 ​1100Ceto
Symbol$, P$
 Ceto¢
Banknotes
 Freq. usedP$1, P$5, P$10, P$20, P$50, P$100
Coins
 Freq. used1P¢, 5P¢, 10P¢, 25P¢
Demographics
Date of introductionJune 12, 1622; 399 years ago (1622-06-12)
ReplacedNew Cardiff Pound sterling
Various currencies, including:
Spanish dollar
User(s)Philimania
Issuance
Central bankFederal Reserve
 Websitebop.gov.ph
PrinterPhilimanian Ministry of Finance
 Websitephilimanianmof.gov.ph
MintPhilimania Mint
 Websitephmint.gov.pj
Valuation
Inflation1.63%
 SourceN/A, July 2021
 MethodCPI
Pegged byN/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