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Maltese Lira
The lira ( mt, lira Maltija, plural: ''liri'', ISO 4217 code: ''MTL'') or pound (until ca. 1986 in English, code ) was the currency of Malta from 1972 until 31 December 2007. One lira was divided into 100 cents, each of 10 mils. After 1986 the lira was abbreviated as Lm, although the original sign continued to be used unofficially. In English the currency was still frequently called the '' pound'' even after its official English language name was changed to ''lira''. The euro replaced the lira as the official currency of Malta on 1 January 2008 at the irrevocable fixed exchange rate of €1 per Lm 0.4293. History Sterling In 1825, an imperial order-in-council introduced sterling coin to Malta, replacing a system under which various coinages circulated, including that issued in Malta by the Knights of St John. The pound was valued at 12 ''scudi'' of the local currency. This exchange rate meant that the smallest Maltese coin, the ''grano'', was worth one third of a far ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sovereign Military Order Of Malta
The Sovereign Military Order of Malta (SMOM), officially the Sovereign Military Hospitaller Order of Saint John of Jerusalem, of Rhodes and of Malta ( it, Sovrano Militare Ordine Ospedaliero di San Giovanni di Gerusalemme, di Rodi e di Malta; la, Supremus Militaris Ordo Hospitalarius Sancti Ioannis Hierosolymitani Rhodiensis et Melitensis), commonly known as the Order of Malta or Knights of Malta, is a Catholic lay religious order, traditionally of a military, chivalric, and noble nature. Though it possesses no territory, the order is often considered a sovereign entity of international law, as it maintains diplomatic relations with many countries. The Order claims continuity with the Knights Hospitaller, a chivalric order that was founded about 1099 by the Blessed Gerard in the Kingdom of Jerusalem. The order is led by an elected prince and grand master. Its motto is (''defence of the faith and assistance to the poor''). The Order venerates the Virgin Mary as its patrone ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Half Crown (British Coin)
The British half crown was a denomination of sterling coinage worth of one pound, or two shillings and six pence (abbreviated "2/6", familiarly "two and six"), or 30 (old) pence. The half crown was first issued in 1549, in the reign of Edward VI. No half crowns were issued in the reign of Mary, but from the reign of Elizabeth I half crowns were issued in every reign except that of Edward VIII, until the coins were discontinued in 1970. The half crown was demonetised (ahead of other pre-decimal coins) on 1 January 1970, the year before the United Kingdom adopted decimal currency on Decimal Day. During the English Interregnum of 1649–1660, a republican half crown was issued, bearing the arms of the Commonwealth of England, despite monarchist associations of the coin's name. When Oliver Cromwell was made Lord Protector of England, half crowns were issued bearing his portrait depicting him wearing a laurel wreath in the manner of a Roman Emperor. The half crown did not displ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Exchange Rate Mechanism
The European Exchange Rate Mechanism (ERM II) is a system introduced by the European Economic Community on 1 January 1999 alongside the introduction of a single currency, the euro (replacing ERM 1 and the euro's predecessor, the ECU) as part of the European Monetary System (EMS), to reduce exchange rate variability and achieve monetary stability in Europe. After the adoption of the euro, policy changed to linking currencies of EU countries outside the eurozone to the euro (having the common currency as a central point). The goal was to improve the stability of those currencies, as well as to gain an evaluation mechanism for potential eurozone members. As of July 2021, three currencies participate in ERM II: the Danish krone, the Croatian kuna and the Bulgarian lev. Intent and operation of the ERM II The ERM is based on the concept of fixed currency exchange rate margins, but with exchange rates variable within those margins. This is also known as a semi-pegged system. Be ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Kuwaiti Dinar
The Kuwaiti dinar ( ar, دينار كويتي, code: KWD) is the currency of Kuwait. It is sub-divided into 1,000 fils. As of 2022, the Kuwaiti dinar is the currency with the highest value per base unit, with KD 1 equalling US$3.32, ahead of the Bahraini dinar with BD 1 equalling US$2.65. History The dinar was introduced in 1961 to replace the Gulf rupee, equal to the Indian rupee. It was initially equivalent to £1 stg. As the rupee was fixed at 1/ 6''d'', that resulted in a conversion rate of Rs. to KD 1. When Iraq invaded Kuwait in 1990, the Iraqi dinar replaced the Kuwaiti dinar as the currency and large quantities of banknotes were stolen by the invading forces. After liberation, the Kuwaiti dinar was restored as the country's currency and a new banknote series was introduced, allowing the previous notes, including those stolen, to be demonetized. Coins The coins in the following table were introduced in 1961. The design of all coins is similar ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Reserve Currency
A reserve currency (or anchor currency) is a foreign currency that is held in significant quantities by central banks or other monetary authorities as part of their foreign exchange reserves. The reserve currency can be used in international transactions, international investments and all aspects of the global economy. It is often considered a hard currency or safe-haven currency. The United Kingdom's pound sterling was the primary reserve currency of much of the world in the 19th century and first half of the 20th century. However, by the middle of the 20th century, the United States dollar had become the world's dominant reserve currency. The world's need for dollars has allowed the United States government to borrow at lower costs, giving the United States an advantage in excess of US$100 billion per year. History Reserve currencies have come and gone with the evolution of the world’s geopolitical order. International currencies in the past have (excluding those discusse ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Legal Tender
Legal tender is a form of money that courts of law are required to recognize as satisfactory payment for any monetary debt. Each jurisdiction determines what is legal tender, but essentially it is anything which when offered ("tendered") in payment of a debt extinguishes the debt. There is no obligation on the creditor to accept the tendered payment, but the act of tendering the payment in legal tender discharges the debt. Some jurisdictions allow contract law to overrule the status of legal tender, allowing (for example) merchants to specify that they will not accept cash payments. Coins and banknotes are usually defined as legal tender in many countries, but personal cheques, credit cards, and similar non-cash methods of payment are usually not. Some jurisdictions may include a specific foreign currency as legal tender, at times as its exclusive legal tender or concurrently with its domestic currency. Some jurisdictions may forbid or restrict payment made by other than legal ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economic And Monetary Union Of The European Union
The economic and monetary union (EMU) of the European Union is a group of policies aimed at converging the economies of member states of the European Union at three stages. There are three stages of the EMU, each of which consists of progressively closer economic integration. Only once a state participates in the third stage it is permitted to adopt the euro as its official currency. As such, the third stage is largely synonymous with the eurozone. The euro convergence criteria are the set of requirements that needs to be fulfilled in order for a country to be approved to participate in the third stage. An important element of this is participation for a minimum of two years in the European Exchange Rate Mechanism ("ERM II"), in which candidate currencies demonstrate economic convergence by maintaining limited deviation from their target rate against the euro. The EMU policies cover all European Union member states. All new EU member states must commit to participat ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cent (currency)
The cent is a monetary unit of many national currencies that equals of the basic monetary unit. Etymologically, the word 'cent' derives from the Latin word meaning hundred. The cent sign is commonly a simple minuscule (lower case) letter . In North America, the c is crossed by a diagonal stroke or a vertical line (depending on typeface), yielding the character . The United States one cent coin is generally known by the nickname " penny", alluding to the British coin and unit of that name. Australia ended production of their 1¢ coin in 1992, as did Canada in 2012. Some Eurozone countries ended production of the 1 euro cent coin, most recently Italy in 2018. Symbol The cent may be represented by the cent sign, written in various ways according to the national convention and font choice. Most commonly seen forms are a minuscule letter ''c'' crossed by a diagonal stroke or a vertical line or by a simple ''c'', depending on the currency (''see below''). Cent amounts ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mill (currency)
The mill (American English) or mil (Commonwealth English, except Canada) is a unit of currency (sometimes symbolized as ₥), used in several countries as one-thousandth of the base unit. In the United States, it is a notional unit equivalent to a thousandth of a United States dollar (a hundredth of a dime or a tenth of a cent). In the United Kingdom, it was proposed during the decades of discussion on decimalisation as a division of sterling's pound. While this system was never adopted in the United Kingdom, the currencies of some British or formerly British territories did adopt it, such as the Palestine pound and the Maltese lira. The term comes from the Latin "millesimum", meaning "thousandth part". Usage United States In the United States, the term was first used by the Continental Congress in 1786, being described as the "lowest money of account, of which 1000 shall be equal to the federal dollar". The Coinage Act of 1792 describes milles and other subdivisions of th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United Kingdom
The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom (UK) or Britain, is a country in Europe, off the north-western coast of the continental mainland. It comprises England, Scotland, Wales and Northern Ireland. The United Kingdom includes the island of Great Britain, the north-eastern part of the island of Ireland, and many smaller islands within the British Isles. Northern Ireland shares a land border with the Republic of Ireland; otherwise, the United Kingdom is surrounded by the Atlantic Ocean, the North Sea, the English Channel, the Celtic Sea and the Irish Sea. The total area of the United Kingdom is , with an estimated 2020 population of more than 67 million people. The United Kingdom has evolved from a series of annexations, unions and separations of constituent countries over several hundred years. The Treaty of Union between the Kingdom of England (which included Wales, annexed in 1542) and the Kingdom of Scotland in 170 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Decimalisation
Decimalisation or decimalization (see spelling differences) is the conversion of a system of currency or of weights and measures to units related by powers of 10. Most countries have decimalised their currencies, converting them from non-decimal sub-units to a decimal system, with one basic currency unit and sub-units that are to a power of 10, most commonly 100, and exceptionally 1000; and sometimes at the same time changing the name of the currency or the conversion rate to the new currency. Today, only two countries have non-decimal currencies: Mauritania, where 1 ouguiya = 5 khoums, and Madagascar, where 1 ariary = 5 iraimbilanja. However, these are only theoretically non-decimal, as, in both cases, the value of the main unit is so low that the sub-units are too small to be of any practical use and coins of the sub-units are no longer used. Russia was the first country to convert to a decimal currency when it decimalised under Tsar Peter the Great in 1704, resulting in the ru ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Maltese Language
Maltese ( mt, Malti, links=no, also ''L-Ilsien Malti'' or ''''), is a Semitic language derived from late medieval Sicilian Arabic with Romance superstrata spoken by the Maltese people. It is the national language of Malta and the only official Semitic and Afro-Asiatic language of the European Union. Maltese is a latinised variety of spoken historical Arabic through its descent from Siculo-Arabic, which developed as a Maghrebi Arabic dialect in the Emirate of Sicily between 831 and 1091. As a result of the Norman invasion of Malta and the subsequent re-Christianisation of the islands, Maltese evolved independently of Classical Arabic in a gradual process of latinisation. It is therefore exceptional as a variety of historical Arabic that has no diglossic relationship with Classical or Modern Standard Arabic. Maltese is thus classified separately from the 30 varieties constituting the modern Arabic macrolanguage. Maltese is also distinguished from Arabic and other Semitic ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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