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
The Spanish dollar, also known as the piece of eight ( es, Real de a ocho, , , or ), is a silver coin of approximately diameter worth eight Spanish reales. It was minted in the Spanish Empire following a monetary reform in 1497 with content ...
, or
peso
The peso is the monetary unit of several countries in the Americas, and the Philippines. Originating in the Spanish Empire, the word translates to "weight". In most countries the peso uses the Dollar sign, same sign, "$", as many currencies na ...
s, by
Venetian traders in the
Levant
The Levant () is an approximate historical geographical term referring to a large area in the Eastern Mediterranean region of Western Asia. In its narrowest sense, which is in use today in archaeology and other cultural contexts, it is eq ...
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
The ''Far East'' was a European term to refer to the geographical regions that includes East and Southeast Asia as well as the Russian Far East to a lesser extent. South Asia is sometimes also included for economic and cultural reasons.
The ter ...
, taking the place of the Spanish
pieces of eight
The Spanish dollar, also known as the piece of eight ( es, Real de a ocho, , , or ), is a silver coin of approximately diameter worth eight Spanish reales. It was minted in the Spanish Empire following a monetary reform in 1497 with content ...
which had been introduced by the Spanish at
Manila
Manila ( , ; fil, Maynila, ), officially the City of Manila ( fil, Lungsod ng Maynila, ), is the capital of the Philippines, and its second-most populous city. It is highly urbanized and, as of 2019, was the world's most densely populate ...
, and by the
Portuguese
Portuguese may refer to:
* anything of, from, or related to the country and nation of Portugal
** Portuguese cuisine, traditional foods
** Portuguese language, a Romance language
*** Portuguese dialects, variants of the Portuguese language
** Portu ...
at
Malacca
Malacca ( ms, Melaka) is a state in Malaysia located in the southern region of the Malay Peninsula, next to the Strait of Malacca. Its capital is Malacca City, dubbed the Historic City, which has been listed as a UNESCO World Heritage Site si ...
. When the French
colonised Indochina, they began issuing the new
French Indochinese piastre
The piastre de commerce was the currency of French Indochina between 1885 and 1952. It was subdivided into 100 ''cents'', each of 2~6 '' sapèques''.
The name ''piastre'' (), from Spanish pieces of eight (pesos), dates to the 16th century and h ...
(''piastre de commerce''), which was equal in value to the familiar Spanish and
Mexican pesos.
In the
Ottoman Empire
The Ottoman Empire, * ; is an archaic version. The definite article forms and were synonymous * and el, Оθωμανική Αυτοκρατορία, Othōmanikē Avtokratoria, label=none * info page on book at Martin Luther University) ...
, the word piastre was a colloquial European name of
Kuruş
Kuruş ( ; ), also gurush, ersh, gersh, grush, grosha, and grosi, are all names for currency denominations in and around the territories formerly part of the Ottoman Empire. The variation in the name stems from the different languages it is us ...
. Successive currency reforms had reduced the value of the Ottoman piastre by the late 19th century so as to be worth about two pence (2d)
sterling. Hence the name ''piastre'' referred to two distinct kinds of coins in two distinct parts of the world, both of which had descended from the Spanish
pieces of eight
The Spanish dollar, also known as the piece of eight ( es, Real de a ocho, , , or ), is a silver coin of approximately diameter worth eight Spanish reales. It was minted in the Spanish Empire following a monetary reform in 1497 with content ...
.
Because of the debased values of the piastres in the
Middle East
The Middle East ( ar, الشرق الأوسط, ISO 233: ) is a geopolitical region commonly encompassing Arabian Peninsula, Arabia (including the Arabian Peninsula and Bahrain), Anatolia, Asia Minor (Asian part of Turkey except Hatay Pro ...
, these piastres became subsidiary units for the
Turkish,
Cypriot
Cypriot (in older sources often "Cypriote") refers to someone or something of, from, or related to the country of Cyprus.
* Cypriot people, or of Cypriot descent; this includes:
**Armenian Cypriots
**Greek Cypriots
**Maronite Cypriots
**Turkish C ...
, and
Egyptian
Egyptian describes something of, from, or related to Egypt.
Egyptian or Egyptians may refer to:
Nations and ethnic groups
* Egyptians, a national group in North Africa
** Egyptian culture, a complex and stable culture with thousands of years of ...
pounds.
Meanwhile, in Indochina, the piastre continued into the 1950s and was subsequently renamed the
riel Riel may refer to:
Places
* Riel, Netherlands, a town in the Netherlands
*Riel (electoral district), a provincial electoral district in Manitoba, Canada, named after Louis Riel
* Riel, Winnipeg, a community committee comprising three city wards
Pe ...
, the
kip
Kip, KIP or kips may refer to:
Athletics
* Kip (artistic gymnastics), a basic skill on the women's uneven bars
* Kip (trampolining), a coaching skill used in trampolining
* Kip-up, an acrobatic manoeuvre used in martial arts and gymnastics
People ...
, and the
dong in
Cambodia
Cambodia (; also Kampuchea ; km, កម្ពុជា, UNGEGN: ), officially the Kingdom of Cambodia, is a country located in the southern portion of the Indochinese Peninsula in Southeast Asia, spanning an area of , bordered by Thailand t ...
,
Laos
Laos (, ''Lāo'' )), officially the Lao People's Democratic Republic ( Lao: ສາທາລະນະລັດ ປະຊາທິປະໄຕ ປະຊາຊົນລາວ, French: République démocratique populaire lao), is a socialist ...
and
Vietnam
Vietnam or Viet Nam ( vi, Việt Nam, ), officially the Socialist Republic of Vietnam,., group="n" is a country in Southeast Asia, at the eastern edge of mainland Southeast Asia, with an area of and population of 96 million, making i ...
respectively.
As a main unit
*
French Indochinese piastre
The piastre de commerce was the currency of French Indochina between 1885 and 1952. It was subdivided into 100 ''cents'', each of 2~6 '' sapèques''.
The name ''piastre'' (), from Spanish pieces of eight (pesos), dates to the 16th century and h ...
As a sub-unit
* of the
Egyptian pound
* of the
Jordanian dinar
The Jordanian dinar ( ar, دينار أردني; ISO 4217, code: JOD; unofficially abbreviated as JD) has been the currency of Jordan since 1950. The dinar is divided into 10 dirhams, 100 qirsh (also called piastres) or 1000 fils (currency), fulu ...
* of the
Lebanese pound
The pound or lira ( ar, ليرة لبنانية ''līra Libnāniyya''; French: ''livre libanaise''; abbreviation: LL in Latin, in Arabic, historically also £L, ISO code: LBP) is the currency of Lebanon. It was formerly divided into 100 pias ...
* of the
Libyan pound
* of the
South Sudanese pound
The South Sudanese pound ( ISO code and abbreviation: SSP) is the currency of the Republic of South Sudan. It is subdivided into 100 piasters. It was approved by the Southern Sudan Legislative Assembly before secession on 9 July 2011 from Sudan ...
(spelled "piaster")
* of the
Sudanese pound
The Sudanese pound (Arabic: ; abbreviation: LS in Latin, in Arabic, historically also £Sd; ISO code: SDG) is the currency of the Republic of the Sudan. The pound is divided into 100 piastres (or ''qirsh'' () in Arabic). It is issued by th ...
* of the
Syrian pound
* of the
Turkish lira
The lira ( tr, Türk lirası; sign: ₺; ISO 4217 code: TRY; abbreviation: TL) is the official currency of Turkey and Northern Cyprus. One lira is divided into one hundred ''kuruş''.
History
Ottoman lira (1844–1923)
The lira, along with ...
* of the
Cypriot pound
The pound, or lira ( el, λίρα, plural , and tr, lira, ota, لیره, from the Latin via the Italian ; sign: £, sometimes £C for distinction), was the currency of Cyprus, including the Sovereign Base Areas in Akrotiri and Dhekelia, from 1 ...
Other usage
Early
private
Private or privates may refer to:
Music
* " In Private", by Dusty Springfield from the 1990 album ''Reputation''
* Private (band), a Denmark-based band
* "Private" (Ryōko Hirosue song), from the 1999 album ''Private'', written and also recorde ...
bank currency issues in
French-speaking regions of
Canada
Canada is a country in North America. Its ten provinces and three territories extend from the Atlantic Ocean to the Pacific Ocean and northward into the Arctic Ocean, covering over , making it the world's second-largest country by tot ...
were denominated in piastres, and the term continued in official use for some time as a term for the
Canadian dollar
The Canadian dollar ( symbol: $; code: CAD; french: dollar canadien) is the currency of Canada. It is abbreviated with the dollar sign $, there is no standard disambiguating form, but the abbreviation Can$ is often suggested by notable style ...
. For example, the original French version of the 1867
Constitution of Canada
The Constitution of Canada (french: Constitution du Canada) is the supreme law in Canada. It outlines Canada's system of government and the civil and human rights of those who are citizens of Canada and non-citizens in Canada. Its contents a ...
refers to a requirement that senators hold property ''d'une valeur de quatre mille piastres''.
The term is still unofficially used in
Quebec
Quebec ( ; )According to the Canadian government, ''Québec'' (with the acute accent) is the official name in Canadian French and ''Quebec'' (without the accent) is the province's official name in Canadian English is one of the thirtee ...
,
Acadian
The Acadians (french: Acadiens , ) are an ethnic group descended from the French who settled in the New France colony of Acadia during the 17th and 18th centuries. Most Acadians live in the region of Acadia, as it is the region where the de ...
,
Franco-Manitoban
Franco-Manitobans (french: Franco-Manitobains) are French Canadians or Canadian francophones living in the province of Manitoba. According to the 2016 Canadian Census, 40,975 residents of the province stated that French was their mother tongue. In ...
, and
Franco-Ontarian language as a reference to the Canadian dollar, much as English speakers say "bucks." (The official French term for the modern Canadian dollar is ''dollar''.) When used colloquially in this way, the term is often pronounced and spelled "piasse" (pl. "piasses"). It was equivalent to 6
New France livre
The was the currency of New France, the French colony in modern-day Canada. It was subdivided into 20 , each of 12 . The New France was a French colonial currency, distinguished by the use of paper money.
History
After an initial period during w ...
s or 120 sous, a quarter of which was "30 sous", which is also still in slang use when referring to 25 cents.
''Piastre'' was also the original French word for the
United States
The United States of America (U.S.A. or USA), commonly known as the United States (U.S. or US) or America, is a country primarily located in North America. It consists of 50 states, a federal district, five major unincorporated territorie ...
dollar, used for example in the French text of the
Louisiana Purchase
The Louisiana Purchase (french: Vente de la Louisiane, translation=Sale of Louisiana) was the acquisition of the territory of Louisiana by the United States from the French First Republic in 1803. In return for fifteen million dollars, or app ...
. Calling the US dollar a piastre is still common among the millions of speakers of
Cajun French
Louisiana French ( frc, français de la Louisiane; lou, françé la lwizyàn) is an umbrella term for the dialects and varieties of the French language spoken traditionally by French Louisianians in colonial Lower Louisiana. As of today Louis ...
and
New England French. Modern French uses ''dollar'' for this unit of currency as well. The term is still used as slang for US dollars in the
French-speaking Caribbean islands, most notably
Haiti
Haiti (; ht, Ayiti ; French: ), officially the Republic of Haiti (); ) and formerly known as Hayti, is a country located on the island of Hispaniola in the Greater Antilles archipelago of the Caribbean Sea, east of Cuba and Jamaica, and ...
.
''Piastre'' is another name for
kuruş
Kuruş ( ; ), also gurush, ersh, gersh, grush, grosha, and grosi, are all names for currency denominations in and around the territories formerly part of the Ottoman Empire. The variation in the name stems from the different languages it is us ...
, of the
Turkish lira
The lira ( tr, Türk lirası; sign: ₺; ISO 4217 code: TRY; abbreviation: TL) is the official currency of Turkey and Northern Cyprus. One lira is divided into one hundred ''kuruş''.
History
Ottoman lira (1844–1923)
The lira, along with ...
.
The ''piastre'' is still used in
Mauritius
Mauritius ( ; french: Maurice, link=no ; mfe, label=Mauritian Creole, Moris ), officially the Republic of Mauritius, is an island nation in the Indian Ocean about off the southeast coast of the African continent, east of Madagascar. It incl ...
when bidding in auction sales, similarly to the way that
guineas
The guinea (; commonly abbreviated gn., or gns. in plural) was a coin, minted in Great Britain between 1663 and 1814, that contained approximately one-quarter of an ounce of gold. The name came from the Guinea region in West Africa, from where m ...
are used at British racehorse auctions. It is equivalent to 2
Mauritian rupee
The Mauritian rupee (sign: Re (singular) and Rs (plural); ISO code: MUR; ) is the currency of Mauritius. One rupee is subdivided into 100 cents. Several other currencies are also called rupee.
Coins
In 1877, coins for 1, 2, 5, 10 and 20 cents w ...
s.
"Piaster" is referenced in the
Steely Dan song Dr. Wu:
"You walked in
And my life began again
Just when I'd spent the last piaster
I could borrow"
See also
*
Piastra
*
Decaen piastre The Decaen piastre was a coin that Governor Decaen had minted at Île of France in 1810. He entrusted the coining to the artist "sieur Aveline", who designed the coins and whose name appears on them.Spink & Son (January 1901) ''The Numismatic Circ ...
References
Further reading
{{cite book , title=A manual of gold and silver coins of all nations, struck within the past century. Showing their history, and legal basis, and their actual weight, fineness, and value chiefly from original and recent assays. With which are incorporated treatises on bullion and plate, counterfeit coins, specific gravity of precious metals, etc., with recent statistics of the production and coinage of gold and silver in the world, and sundry useful tables , first1=Jacob Reese , last1=Eckfeldt , first2=William Ewing , last2=Du Bois , first3=Joseph , last3=Saxton , publisher=Assay Office of the Mint , year=1842 , page=132
Currencies of Africa
Currencies of Asia
Piastre
Modern obsolete currencies
Denominations (currency)