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Vatu
The vatu ( abbreviation: VT;The Reserve Bank of Vanuatu.Current Banknotes and Coins in Circulation" Accessed 2 March 2013. ISO code: VUV) is the currency of Vanuatu. The vatu has no subdivisions. Etymology The term ''vatu'', used in all three official languages of Vanuatu, was borrowed from the word for "stone" in some indigenous languages (such as Raga ''vatu''). Ultimately, it descends from Proto-Oceanic ''*patu'', from Proto-Malayo-Polynesian and Proto-Austronesian ''*batu'' of the same meaning. Exchange rate History The vatu was introduced in 1981, one year after independence, to replace the New Hebrides franc at par. The vatu was issued as a single unit with no subdivision, with the 1 vatu coin being the smallest denomination issued, in a similar vein to the (post-1953) Japanese yen and the Tajikistani rouble (although that had an official if theoretical, subdivision). The ISO 4217 currency code for the Vanuatu vatu is VUV. Its nationally recognized symbol Vt is ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Vanuatu
Vanuatu ( or ; ), officially the Republic of Vanuatu (french: link=no, République de Vanuatu; bi, Ripablik blong Vanuatu), is an island country located in the South Pacific Ocean. The archipelago, which is of volcanic origin, is east of northern Australia, northeast of New Caledonia, east of New Guinea, southeast of the Solomon Islands, and west of Fiji. Vanuatu was first inhabited by Melanesian people. The first Europeans to visit the islands were a Spanish expedition led by Portuguese navigator Fernandes de Queirós, who arrived on the largest island, Espíritu Santo, in 1606. Queirós claimed the archipelago for Spain, as part of the colonial Spanish East Indies, and named it . In the 1880s, France and the United Kingdom claimed parts of the archipelago, and in 1906, they agreed on a framework for jointly managing the archipelago as the New Hebrides through an Anglo-French condominium. An independence movement arose in the 1970s, and the Republic of Vanuatu was fou ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
New Hebrides Franc
The franc was the currency of the Anglo-French Condominium of the Pacific island group of the New Hebrides (which became Vanuatu in 1980). It circulated alongside British and later Australian currency. The New Hebrides franc was nominally divided into 100 Centimes, although the smallest denomination was the 1 franc. Between 1945 and 1969, it was part of the CFP franc. History Until World War II, the New Hebrides used the French franc and the British and Australian pounds. In 1941, the Free French forces introduced paper money for circulation on the New Hebrides. In 1945, the CFP franc was introduced to insulate France's Pacific colonies from the devaluation of the French franc and the New Hebrides used a combination of New Caledonian franc coins and locally issued notes. In 1949, the CFP franc's relationship to the French franc stabilized at 5.5 French francs = 1 CFP franc. From 1959, the exchange rate to the Australian pound was almost exactly 200 francs = 1 pound. This rate be ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Withdrawal Of Low-denomination Coins
The withdrawal of a country's lowest-denomination coins from circulation (usually a one- cent coin or equivalent) may either be through a decision to remove the coins from circulation, or simply through ceasing minting. Reasons This withdrawal may be due to the high cost of production, since the coin may be worth less than its cost of production. For example, when Canada phased out its penny in 2012, its production cost was 1.6 cents per penny. Other reasons include low purchasing power and low utility. Often coins are withdrawn after their purchasing power has been eroded after decades of inflation. In Switzerland, the 1 Rappen coin had fallen into disuse by the early 1980s, but was still produced until 2006, albeit in ever decreasing quantities. Conversely, the British Treasury department initially argued for the retention of the ''decimal'' halfpenny, on the grounds that its withdrawal would drive up inflation. In some countries, such as New Zealand, withdrawn coins are decla ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Malvatumauri
The ''Malvatu Mauri'' (Bislama) (National Council of Chiefs) is a formal advisory body of chiefs recognised by the Constitution of the Republic of Vanuatu. Members of the Council are elected by their fellow chiefs sitting in district councils of chiefs. The Council plays a significant role in advising the government on all matters concerning ni-Vanuatu culture and languages. "Mal" means chief, "vatu" means stone, island, or place, and "mauri" means something that is alive. See also * House of Chiefs (Fiji) A House of Chiefs (or ''House of Traditional Leaders'') is a post-colonial assembly, either legislative or advisory, that is recognised by either a national or regional government as consisting of and providing a collective, public voice for an et ... References Government of Vanuatu Politics of Vanuatu Vanuatuan culture Tribal chiefs {{Vanuatu-stub ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Reserve Bank Of Vanuatu
The Reserve Bank of Vanuatu is the central bank of Vanuatu (an island country located in the South Pacific Ocean). It was initially known as the Central Bank of Vanuatu after the nation's independence from France and the United Kingdom. The bank began operations on 1 January 1981 and was initially responsible for currency exchange. It established the Vatu as the national currency to replace the circulation of the New Hebrides franc and Australian dollar. The bank also replaced the role of the Banque Indosuez Vanuatu. The institution's name was changed to the Reserve Bank of Vanuatu in May 1989 and its responsibility over the national banking industry was expanded. Role The functions, powers and responsibilities of the RBV are specified in the Reserve Bank of Vanuatu Act AP 125of 1980. The specific purposes of the RBV as spelled out in Section 3 of the Reserve Bank Act are to: Regulate the issue, supply, availability and international exchange of money; Supervise and regulate ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Scalloped Edge
Although the vast majority of coins are round, coins are made in a variety of other shapes, including squares, diamonds, hexagons, heptagons, octagons, decagons, and dodecagons. They have also been struck with scalloped (wavy) edges, and with holes in the middle. Coins in the shape of polygons often have rounded edges or are Reuleaux polygons. This article focuses mainly on circulating coins; a number of non-circulating commemorative coins have been made in special shapes, including guitars, pyramids, and maps. There is a list with more unusual shapes of non-circulating commemorative coins at the end of this page, that all have been issued officially by various countries. Triangular The Cook Islands have a circulating 2 dollar triangular coin with rounded corners. Squares and diamonds Indo-Greek coins were often square. Aruba has a large circulating square 50 cents coin. Many countries have struck square coins with rounded corners. Some of these, such as the Netherlands zin ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tangbunia Bank
The Tangbunia Bank (widely misreported as ''Tari Bunia'') is a bank run by the Turaga indigenous movement on Pentecost Island in Vanuatu. It is notable for dealing in items of customary wealth such as hand-woven mats, shells or pig tusks rather than currency such as the vatu. Accounts at the bank are reckoned in livatu, a unit equivalent to the value of one fully curved boar's tusk. The Tangbunia Bank has fourteen branches throughout the island, with its headquarters at Lavatmanggemu. The bank's manager is Chief Viraleo Boborenvanua. It was set up in accordance with the national government's support for the indigenous customary economy, in a country where a majority of the population does not participate extensively in a monetary economy. According to the British Broadcasting Corporation, the bank is similar to other banks in that it has "accounts, reserves, cheque books and tight security". The bank is named after the giant baskets in which valuables were traditionally stored. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cash Rounding
Cash rounding or Swedish rounding (New Zealand English) occurs when the minimum unit of account is smaller than the lowest physical denomination of currency. The amount payable for a cash transaction is rounded to the nearest multiple of the minimum currency unit available, whereas transactions paid in other ways are not rounded (for example electronic funds transfer like credit cards, or negotiable instruments like cheques). Cash rounding typically occurs when low-denomination coins are removed from circulation owing to inflation. Cash rounding may be a compulsory legal requirement if such coins are no longer legal tender, or a voluntary practice where they remain in circulation but are scarce or impractical. Cash rounding ("öre rounding", ) was introduced in Sweden in 1972 when 1 and 2 öre coins were withdrawn from circulation, and has continued to be applied at incremental levels as smaller denomination coins have been withdrawn. The current level of cash rounding in Sweden ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
ISO 4217
ISO 4217 is a standard published by the International Organization for Standardization (ISO) that defines alpha codes and numeric codes for the representation of currencies and provides information about the relationships between individual currencies and their minor units. This data is published in three tables: * Table A.1 – ''Current currency & funds code list'' * Table A.2 – ''Current funds codes'' * Table A.3 – ''List of codes for historic denominations of currencies & funds'' The first edition of ISO 4217 was published in 1978. The tables, history and ongoing discussion are maintained by SIX Group on behalf of ISO and the Swiss Association for Standardization. The ISO 4217 code list is used in banking and business globally. In many countries, the ISO 4217 alpha codes for the more common currencies are so well known publicly that exchange rates published in newspapers or posted in banks use only these to delineate the currencies, instead of translated c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Nickel
Nickel is a chemical element with symbol Ni and atomic number 28. It is a silvery-white lustrous metal with a slight golden tinge. Nickel is a hard and ductile transition metal. Pure nickel is chemically reactive but large pieces are slow to react with air under standard conditions because a passivation layer of nickel oxide forms on the surface that prevents further corrosion. Even so, pure native nickel is found in Earth's crust only in tiny amounts, usually in ultramafic rocks, and in the interiors of larger nickel–iron meteorites that were not exposed to oxygen when outside Earth's atmosphere. Meteoric nickel is found in combination with iron, a reflection of the origin of those elements as major end products of supernova nucleosynthesis. An iron–nickel mixture is thought to compose Earth's outer and inner cores. Use of nickel (as natural meteoric nickel–iron alloy) has been traced as far back as 3500 BCE. Nickel was first isolated and classified as an e ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Currency Sign
A currency symbol or currency sign is a graphic symbol used to denote a currency unit. Usually it is defined by the monetary authority, like the national central bank for the currency concerned. In formatting, the symbol can use various formattings: before, between or after the numeric amounts: , and , for example; this positioning is determined by national convention. The symbol is not defined or listed by ISO 4217: that only assigns three-letter codes to currencies (like for Azerbaijani manat) and special cases like gold and silver ( and respectively) that are used as financial instruments. Usage When writing currency amounts, the location of the symbol varies by language. Many currencies in English-speaking countries and Latin America (except Haiti) place it before the amount (e.g., R$50,00). The Cape Verdean escudo (like the Portuguese escudo, to which it was formerly pegged) places its symbol in the decimal separator position (e.g. 20$00). Banco de Cabo Verde.Moedas." ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Apma Language
Apma (or Abma) is the language of central Pentecost island in Vanuatu. Apma is an Oceanic language (a branch of the Austronesian language family). Within Vanuatu it sits between North Vanuatu and Central Vanuatu languages, and combines features of both groups. With an estimated 7,800 native speakers (in the year 2000), Apma is the most widely spoken of Pentecost's native languages, and the fifth largest vernacular in Vanuatu as a whole. In recent times Apma has spread at the expense of other indigenous languages such as Sowa and Ske. Apma is increasingly mixed with words and expressions from Bislama, Vanuatu's national language. Name of the language Like Pentecost's other languages, Apma is named after the local word for "what" or "something". Locally it is usually referred to simply as "language" or "our language". Many people from other areas of Vanuatu recognise the language by the catchphrase meaning "good" or "OK", or refer informally to its speakers as , an Apma ter ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
