NationStates Jolt Archive

Multiland proposes a single currency for all nations who agree to this. This would mean no more checking the current rate of exchange, no confusion, etc.

The currency would be called the Uncha and its lower value called the cha.

If you want to agree, sign below.

'All of the countries whose leaders have declared their agreement in the following posts will use a single currency, named 'Uncha' (plural: Unchas), which is made up of 100 cha, to be introduced on the 24th of April 2007 for all of those nations. The symbol for the Uncha shall be: U and the symbol for cha shall be: ch (eg. U25.15, or 15ch or U25)'

[Edited slightly - bold parts]

Multiland agrees to this.

Multiland Leader

We have some questions:

- which bank(s) will administer the currency?
- who will have authority for monetary policy?
- what will be the appearance of the notes and coinage?
- how will the Uncha be valued?

-- James Dwight
Secretary of State

With modern electronic banking being what it is today... really, what's the point?

http://www.weirdozone.com/projects/nationstates/scolopendra/jack_kerrigan.gifAdvisor Jack Kerrigan
International Trade Section
Federated Segments of Scolopendra

We argue that the USD or Universal Standard Dollar used for years as a universal currency. Most exchange rates are based on this. Thanks to electronic banking, conversions are done automatically.

We have some questions:

- which bank(s) will administer the currency?
- who will have authority for monetary policy?
- what will be the appearance of the notes and coinage?
- how will the Uncha be valued?

-- James Dwight
Secretary of State

Note: One cha will be shown as 1ch, not 1c to avoid confusion with cents.

The bank of Multiland will administer the currency to other countries, to save setting up an international bank. Whatever department/organisation normally administers currency in a particular country shall do so with the Uncha and the Cha and will have enough of that currency provided by Multiland. If required, Multiland will also offer machines for the printing of such money to countries that have signed the agreement so that they can produce their own Unchas and Chas relative to their economys best interests.

Each country will have the same authority for the Unchas and Chas as they would have had for their previous currency.

The appearance of the notes is here http://www.geocities.com/pjcroad/Unchanotes (the picture is not as clear as it should be but the notes would have clear sharp print)

The appearanc of the coins is here http://www.geocities.com/pjcroad/Unchacoins (but I made a mistake - the U1 coin will be made from Copper, Nickel, and Zinc, the 50ch, 20ch (and 10ch) coins will be made from Copper and Nickel, and the 1ch coin (and 2ch coin) will be made from copper coated steel.

Not everyone has access to electronic banking (or wants to use it due to safety concerns) and for various reasons, not everyone checks exchange rates when they convert currency so they may be ripped off. Also, there is usually a fee for currency conversion.

"Can't you make the plural unchae or unchi instead? Unchas simply doesn't have the same ring."

-- Kurr of Clan Viriih, Sub-Intendant

The Common Bank based in Xanthal already mints an alternative exchange currency to the Universal Standard Dollar, and it isn't the only one. There is no such thing as a universal currency, nor will there be in the forseeable future. I recommend that you investigate existing options rather than creating a new system.

Felix Rethma
Triumvirate correspondence office
Socialist Republic of Xanthal