The Maanenic Pound or De Gulden van Maanenland is the principal currency of Maanenland. Currency is not produced by the Central Bank of Maanenland but instead by individual banks and in some juristications , provinical governments.
The sign for the currency is £ or rarely ML. Both originate from the Latin for Pound. The international currency code is MNP. One Maanenic Pound is split into 100 Centipondi.
The current currency mechanism developed from pre-union times whereby each individual kingdom had it's own currency as did each of their local banks. When Maanenland united for the first time in the 11th century there was no agreement on a currency union as it was ultimatly a military and political union. The King and government in 1342 attempted to create one currency called the Union pound which was announced by King Derek IV in the summer of that year. Local traders saw no reason to abandon their varying local currencies and the Union fell into disuse months after.
The next great leap forward for the currency came in 1598 when the dust from the civil war began to settle over Maanenland as political institutions were rebuilt and relative order restored to the lands. As part of the standardisation plans of the time it was once again agreed that having hundereds of different currencies was unsuitable for governing an ever growing nation so the Grand Duchess of the time ,Grand Duchess Mary III, the newly created Houses of Maanenic Parliament approved the plan and by 1610 the new Bank of Maanenland began producing the nations first effective united Maanenic Pound.
Despite the initial success of the new currency it still faced stiff competition from the regional and banking currencies which were worth much more than the government version. A plan to outlaw these currencies was blocked by the corporate dominated House of Regional Commanders and the plan failed creating a currency that was only accepted as payment through the use of force and cohersion which dwindled it's popularity further.
Industrialisation and exploration brought widespread upheavel to the currency markets , for the first time the Maanenic people were engaging in widespread commerce and the old currency system was becoming unworkable as people traded across the nation rather than just in their towns and villages. The problems of currency exchange within the nations own borders was hilighted as holding the nation back economically and hampering the ability to trade with foreign nations. The International Currency Summits of the 1870s proposed fixing all the regional currencies to that of one Maanenic pounds making them of equal value anywhere in the nation. This plan was implemented by the Bank of Maanenland with co-operation from the government in 1882.
Recession in 1921 and the dramatic rises of some commodoties and the steep fall of others threatened the vitality of the currency union and many banking organisations declared there intention to pull out . The Liberal Democratic Party of Maanenland was about to face a general election and needed a quick solution to the problem which was offered by the banking corporations ,aided by advances in telecommunications as the Standard Maanenic Pound mechanism which has become commonplace today.
Before 1981 all the Maanenic currencies had their own various denominations of money and wildly variable designs which were open to fraud and deception and also proved confusing for people dealing with money as they could not remember all the various names and values, so to aid with arithmetic and speed up money transfer a process of standardisation was ordered by [[[Lieutenancy Decreement]] that every currency should consist of one pound broken down into 100 equal pieces to be called Centipondi. Futher to this standard dimensions for coinage were introduced and a standardisation of design. All coinage and notes ceased to be tender at any bank nationwide on Decimal Day , December 19th 1981. Fears of a currency meltdown or people being left without any money were allayed despite some scare stories in the nations tabloids.
Throughout recessions , industrial collapses and high-scale bankruptcies the dynamic nature of the currency has meant it has retained it's average strength and has rarely fallen foul of inflation generally growing with the economy or shrinking in line with it.
SMERS & MASPS
When a note is banked in Maanenland it is used to buy a certain amount of whatever commodity the currency is linked to. As the amount of that commodity grows it is added to your account in the form of interest. The more stock you already hold , the more you are entitled to a reward for allowing the corporation to use your stocks to cash other people's requests. Because it wouldn't be sensible to price products in every single commodity in Maanenland a shop or business asks for the Maanenic Pound equivalent of it.
Every business cannot be expected to know all the values of all the currencies nationally and even if they did it would be time consuming so instead the Bank of Maanenland uses a device called SMERS or the Standard Maanenic Exchange Rate System. Every week the Bank of Maanenland decides just how much of your commodity is equal to one Standard Maanenic Pound based on how much the value of your commodity has gone up or down.
The Bank of Maanenland is primarily concerned with the stability of currency in Maanenland and how it is traded overseas. If the value of a commodity is going to collapse then it stands to reason that the savings of a legal entity would then also be diminished which is why in 1967 the Maanenic Active Savings Protection System or MASPS was introduced. This system means that when a commodity drops in value below a certain level (the official level is a secret) then your savings are automatically transferred to an equivalent amount of the same currency. Long term decline however is not covered in the system.
Day-to-day most people are only vaugely aware of the way that their currency system works , they know is their currency has devalued when they see that the money has diminished in their account. At revaluation new notes and coins are issued so simply holding onto it is not an option. The majority of currencies for the average person fluctuate in value about the same as any national currency and as such again it is barely noticed when SMERS changes every month.
When getting a loan from their bank the system is more or less the same as any other nation , the customer will borrow X amount of Maanenic pounds and have to pay it back with interest. The value of what they borrow will be fixed but the interest rate will vary based on how much their chosen currency goes up or down on the market. Finance is more complicated in Maanenland and is much more a source of stress due to it's dynamic nature.
In a system whereby the value of money changes every month it would expected that people would swap and change their banks monthly to whoever has increased in value. However banks will flatly refuse to accept currency that will be decreasing in value. When banking a currency that has declined or is rumoured to decline the issuing bank is buying back the note for less than what they sold it for and thus have made a profit.
One Maanenic Pound regardless of currency is split into 100 centipondi. Since 1981 every coin has been made to the same dimensions with one common side with the seal of Maanenland and the denomination of the coin and issue cycle. The design and colours of the coins are open to each individual bank.
The upper limit to notes is ML500 regardless of organisation printing it. Each demonination from the 5 pound note to 500 is strictly controlled in terms of dimensions. In terms of design, the name of the printing organisation has very strict minimum limits but the overall design is left up to the printing organisation. All notes have the same standard anti-foregery devices , the newest being a hologram that changes from the demonination to a picture of the Seal of Maanenland.
When trading overseas the currency is not under the control of SMERS or the protection of MASPS which is where the Bank of Maanenland Pound comes in. The value of this currency is the same as the Standard Maanenic Register the equivalent value of the benchmark of the SMERS system , ie. the Standard Maanenic Register = 1 Bank of Maanenland Maanenic Pound. When trading overseas therefore a corporation will change their money directly into this for trade overseas. It is prudent for a corporation to change the money back into a local currency to take advantage of interest on the money. The Bank of Maanenland cannot offer interest on it's currency and as such does not offer loans. The government banks in it's own currency with a seperate branch of the Bank of Maanenland.
The ML's Strength Internationally
Generally the Maanenic pound is an average performing currency internationally which is unintentionally tailored for both the import and export markets because of it's dynamic nature. It is not a major trading currency outside Maanenland and the currency is not always accepted internationally.
20 Most Common Currencies
|1||Royal Cliffton bank Pound||Nationwide||Primary mass finance currency|
|2||National Industrial Dividend Pound||Nationwide||Primary heavy industrial currency|
|3||Duchy Bank Dollar||Cliffton Duchy||Very high interest rate makes it a very high value currency but liable to strong fluctuations. Used mainly for high-risk overseas ventures.|
|4||Ternpool Savings Pound||Ternpool Province||Primary retail currency as many shops offer discounts for using this currency , seen as a very stable and average worth currency.|
|5||Maanenland Government Pound||Nationwide||The governments own currency that it uses for day-to-day adminstration. Primary currency for tourists and visitors. Seen as a low value currency but very stable.|
|6||United Industrial Bank Pound||Portland Province||Secondary heavy industrial currency , low return on savings but low loan rates.|
|7||Monarch Bank Pound||Kingsborough||Primary currency for private investments.|
|8||Industrial Union||Nationwide||All purpose currency with typical ownership in lower socio-economic bands. Weak strength currency but high-returns.|
|9||Maanen Maritime and Imperial||Portland Province , Ternpool , Dycan Valley , Kingsborough , Cliffton Duchy||Most common currency amongst small-scale maritime concerns.|
|10||Cliffton Duchy||Cliffton Duchy||Rare to be seen outside the province , currency issued by the provincial government.|
|11||Bank of Westhouse||Plainston and Stanston||Primary agricultural currency but remains by far the majority currency in all eastern territories.|
|12||Stretford Pound||Greater Stretford||Primary currency issued by the government in Greater Stretford.|
|13||New World Bank Pound||Nationwide||Former largest currency until financial concerns at the bank rocked consumer confidnce.|
|14||North Eastern Union||Ternpool , Portland , Western Peaks District||Local government issued currency , very rare to be seen outside of the North Eastern Economic Region.|
|15||Imperial Bank of Calder||Nationwide||Extremely low worth currency , more affluent areas refuse to accept notes.|
|16||Independant and Vanguard||Greater Stretford||High value currency primarilly used as reserve currency.|
|17||Ternlake Associated||Dycan Valley , Greater Stretford , Ternpool , Kingsborough , Cliffton Duchy||General everyday currency for all purpose , average strength.|
|18||Royal Chester and Oakham Bank||Chesterford , Oakham , Western Peak Districts , Plains County , Calder||Privitised state owned bank , unstable currency that is rapidly losing popularity.|
|19||Northern Star||Hollings Valley , Chatham , Mountain Districts , Cliffton Duchy||Despite it being based in the north , it's currency has been commonly used for products from the south to the industrial north. Preffed currency of these regions.|
|20||National New Westminster||Greater Stretford , Cliffton Duchy||Currency issued by the Lord Lieutenant . Growing in popularity.|