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L.E. Reinsborough School
The pound ( arz, جنيه مصرى '; abbreviation: LE in Latin, in Arabic, historically also £E; ISO code: EGP) is the official currency of Egypt. It is divided into 100 piastres, or ersh ( ; ''plural'' ; abbreviation: PT), or 1,000 milliemes ( ; french: millième, abbreviated to ''m'' or ''mill''). History In 1834, a khedival decree was issued, adopting an Egyptian currency based on a bimetallic standard ( gold and silver) on the basis of the Maria Theresa thaler, a popular trade coin in the region. The Egyptian pound, known as the , was introduced, replacing the Egyptian piastre () as the chief unit of currency. The piastre continued to circulate as of a pound, with the piastre subdivided into 40 para. In 1885, the para ceased to be issued, and the piastre was divided into tenths ( ). These tenths were renamed milliemes () in 1916. The legal exchange rates were fixed by force of law for important foreign currencies which became acceptable in the settl ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Piastre
The piastre or piaster () is any of a number of units of currency. The term originates from the Italian for "thin metal plate". The name was applied to Spanish and Hispanic American pieces of eight, or pesos, by Venice, Venetian traders in the Levant in the 16th century. These pesos, minted continually for centuries, were readily accepted by traders in many parts of the world. After the countries of Latin America had gained independence, pesos of Mexico began flowing in through the trade routes, and became prolific in the Far East, taking the place of the Spanish pieces of eight which had been introduced by the Spanish at Manila, and by the Portuguese people, Portuguese at Malacca. When the French French Indochina, colonised Indochina, they began issuing the new French Indochinese piastre (''piastre de commerce''), which was equal in value to the familiar Spanish and Mexican pesos. In the Ottoman Empire, the word piastre was a colloquial European name of Kuruş. Successive curr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Siege Of Khartoum
The Siege of Khartoum (also known as the Battle of Khartoum or Fall of Khartoum) occurred from 13 March 1884 to 26 January 1885. Sudanese Mahdist forces captured the city of Khartoum from its Egyptian garrison, thereby gaining control over the whole of Sudan. Egypt had controlled Sudan since 1820, but had itself come under British domination in 1882. In 1881, the Mahdist Revolt began in Sudan, led by Muhammad Ahmad who claimed to be the Mahdi. The Egyptian army was unable to suppress the revolt, being defeated in several battles and retreating to their garrisons. The British refused to send a military force to the area, instead appointing Charles George Gordon as Governor-General of Sudan, with orders to evacuate Khartoum and the other garrisons. Gordon arrived in Khartoum in February 1884, where he found it impossible to reach the other garrisons which were already besieged. Rather than evacuating immediately, Gordon began to fortify the city, which was cut off when the local ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Floating Exchange Rate
In macroeconomics and economic policy, a floating exchange rate (also known as a fluctuating or flexible exchange rate) is a type of exchange rate regime in which a currency's value is allowed to fluctuate in response to foreign exchange market events. A currency that uses a floating exchange rate is known as a ''floating currency'', in contrast to a ''fixed currency'', the value of which is instead specified in terms of material goods, another currency, or a set of currencies (the idea of the last being to reduce currency fluctuations). In the modern world, most of the world's currencies are floating, and include the most widely traded currencies: the United States dollar, the euro, the Swiss franc, the Indian rupee, the pound sterling, the Japanese yen, and the Australian dollar. However, even with floating currencies, central banks often participate in markets to attempt to influence the value of floating exchange rates. The Canadian dollar most closely resembles a pure f ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States Dollar
The United States dollar ( symbol: $; code: USD; also abbreviated US$ or U.S. Dollar, to distinguish it from other dollar-denominated currencies; referred to as the dollar, U.S. dollar, American dollar, or colloquially buck) is the official currency of the United States and several other countries. The Coinage Act of 1792 introduced the U.S. dollar at par with the Spanish silver dollar, divided it into 100 cents, and authorized the minting of coins denominated in dollars and cents. U.S. banknotes are issued in the form of Federal Reserve Notes, popularly called greenbacks due to their predominantly green color. The monetary policy of the United States is conducted by the Federal Reserve System, which acts as the nation's central bank. The U.S. dollar was originally defined under a bimetallic standard of (0.7735 troy ounces) fine silver or, from 1837, fine gold, or $20.67 per troy ounce. The Gold Standard Act of 1900 linked the dollar solely to gold. From 1934, it ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sterling Area
The sterling area (or sterling bloc, legally scheduled territories) was a group of countries that either pegged their currencies to sterling, or actually used sterling as their own currency. The area began to appear informally during the early 1930s, after sterling had left the gold standard in 1931, with the result that a number of currencies of countries that historically had performed a large amount of their trade in sterling were pegged to sterling instead of to gold. A large number of these countries were part of the British Empire; however, a significant minority were not. Early in the Second World War, emergency legislation united the sterling bloc countries and territories (except Hong Kong) of the British Empire in a single exchange control area to protect the external value of sterling, among other aims. Canada and Newfoundland were already linked to the US dollar and did not join the sterling bloc. The Bank of England in London guided co-ordination of monetar ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Pound Sterling
Sterling (abbreviation: stg; Other spelling styles, such as STG and Stg, are also seen. ISO code: GBP) is the currency of the United Kingdom and nine of its associated territories. The pound ( sign: £) is the main unit of sterling, and the word "pound" is also used to refer to the British currency generally, often qualified in international contexts as the British pound or the pound sterling. Sterling is the world's oldest currency that is still in use and that has been in continuous use since its inception. It is currently the fourth most-traded currency in the foreign exchange market, after the United States dollar, the euro, and the Japanese yen. Together with those three currencies and Renminbi, it forms the basket of currencies which calculate the value of IMF special drawing rights. As of mid-2021, sterling is also the fourth most-held reserve currency in global reserves. The Bank of England is the central bank for sterling, issuing its own banknotes, and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
World War I
World War I (28 July 1914 11 November 1918), often abbreviated as WWI, was one of the deadliest global conflicts in history. Belligerents included much of Europe, the Russian Empire, the United States, and the Ottoman Empire, with fighting occurring throughout Europe, the Middle East, Africa, the Pacific, and parts of Asia. An estimated 9 million soldiers were killed in combat, plus another 23 million wounded, while 5 million civilians died as a result of military action, hunger, and disease. Millions more died in genocides within the Ottoman Empire and in the 1918 influenza pandemic, which was exacerbated by the movement of combatants during the war. Prior to 1914, the European great powers were divided between the Triple Entente (comprising France, Russia, and Britain) and the Triple Alliance (containing Germany, Austria-Hungary, and Italy). Tensions in the Balkans came to a head on 28 June 1914, following the assassination of Archduke Franz Ferdin ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Gold Standard
A gold standard is a monetary system in which the standard economic unit of account is based on a fixed quantity of gold. The gold standard was the basis for the international monetary system from the 1870s to the early 1920s, and from the late 1920s to 1932 as well as from 1944 until 1971 when the United States unilaterally terminated convertibility of the US dollar to gold, effectively ending the Bretton Woods system. Many states nonetheless hold substantial gold reserves. Historically, the silver standard and bimetallism have been more common than the gold standard. The shift to an international monetary system based on a gold standard reflected accident, network externalities, and path dependence. Great Britain accidentally adopted a ''de facto'' gold standard in 1717 when Sir Isaac Newton, then-master of the Royal Mint, set the exchange rate of silver to gold too low, thus causing silver coins to go out of circulation. As Great Britain became the world's leading financ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Trade Coin
Trade coins are coins minted by a government, but not necessarily legal tender within the territory of the issuing country. These quasi bullion coins (in rarer cases small change) were thus actually export goods - that is, bullion in the form of coins, used to bulk buy important goods from other countries, where they could be bought at a favourable price, compared to the purchasing power of the same amount of bullion within the trade coins' country of origin. A distinction must be drawn between full value bullion trade coins, that were used in ordinary peacetime trade on the one hand, and on the other hand debased coins, that were usually made with the intention to deceive. Such debased "trade coins" were occasionally minted during times of war, e.g. the Prussian ephraimiten, silver-clad copper coins minted during the Seven Years' War. If these were ever accepted or approved as legal tender, they would be valued far below the regular coins, their value being calculated according to ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Maria Theresa Thaler
The Maria Theresa thaler (MTT) is a silver bullion coin and a type of Conventionsthaler that has been used in world trade continuously since it was first minted in 1741. It is named after Maria Theresa who ruled Austria, Hungary, and Bohemia from 1740 to 1780 and is depicted on the coin. History In 1741 the first MTT was struck according to the Reichsthaler standard with of a Cologne mark of fine silver, or 25.98 grams. In 1750 a new thaler was struck with a gross weight of of 1 Vienna mark of silver, fine (with a fine silver content of 23.39 grams, or of a Cologne mark). In 1751 this new standard Conventionsthaler was effectively adopted across the German-speaking world when it was accepted formally in the Bavarian monetary convention. This new, post-1751 thaler has continued as a trade coin ever since. Since the death of Maria Theresa in 1780, the coin has always been dated 1780. On 19 September 1857, Emperor Francis Joseph of Austria declared the Maria Theresa thaler t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Silver
Silver is a chemical element with the Symbol (chemistry), symbol Ag (from the Latin ', derived from the Proto-Indo-European wikt:Reconstruction:Proto-Indo-European/h₂erǵ-, ''h₂erǵ'': "shiny" or "white") and atomic number 47. A soft, white, lustrous transition metal, it exhibits the highest electrical conductivity, thermal conductivity, and reflectivity of any metal. The metal is found in the Earth's crust in the pure, free elemental form ("native silver"), as an alloy with gold and other metals, and in minerals such as argentite and chlorargyrite. Most silver is produced as a byproduct of copper, gold, lead, and zinc Refining (metallurgy), refining. Silver has long been valued as a precious metal. Silver metal is used in many bullion coins, sometimes bimetallism, alongside gold: while it is more abundant than gold, it is much less abundant as a native metal. Its purity is typically measured on a per-mille basis; a 94%-pure alloy is described as "0.940 fine". As one of th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Gold
Gold is a chemical element with the symbol Au (from la, aurum) and atomic number 79. This makes it one of the higher atomic number elements that occur naturally. It is a bright, slightly orange-yellow, dense, soft, malleable, and ductile metal in a pure form. Chemically, gold is a transition metal and a group 11 element. It is one of the least reactive chemical elements and is solid under standard conditions. Gold often occurs in free elemental ( native state), as nuggets or grains, in rocks, veins, and alluvial deposits. It occurs in a solid solution series with the native element silver (as electrum), naturally alloyed with other metals like copper and palladium, and mineral inclusions such as within pyrite. Less commonly, it occurs in minerals as gold compounds, often with tellurium (gold tellurides). Gold is resistant to most acids, though it does dissolve in aqua regia (a mixture of nitric acid and hydrochloric acid), forming a soluble tetrachloroaurate anion. Gold is ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
