Confederal dollar

The dollar is the currency and legal tender of the Confederated Peoples. Banknotes are issued by the Bank of the Confederation and coins are minted by the Confederal Mint. The Confederal dollar is not currently legal tender in any nation other than the Confederated Peoples nor is it a commonly traded currency outside the Confederated Peoples.

The smaller denomination of the dollar is the penny. There are a hundred pence in each dollar. In the Confederated Peoples itself, the symbol for the dollar is $ and the symbol for the penny is p. However, outside the Confederated Peoples, the symbols are CP$ and CPp. C$, Cd and CPd have all also been used for the dollar although none of them are officially recognized.

As of 22 April 2007, the dollar was worth 1.9061 Universal Standard Dollars. The dollar has a fixed exchange rate with the pre-Confederal currencies of various Confederal Members. However, the Bank of the Confederation is systematically seeking to remove thse pre-Confederal currencies from circulation and has placed time limits on their validity.

History

Originally, there were ten different currencies in what is now the Confederated Peoples. The Constitution reserves the right to create money to the Confederal government. All pre-Confederal currencies are still legal tender but they are being systematically phased out. Within a year at the most, the Confederal dollar will be the only currency considered legal tender in the Confederated Peoples.