Author Topic: There are only four basic currency systems in the world  (Read 35220 times)

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Offline <k>

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Re: There are only four basic currency systems in the world
« Reply #60 on: July 25, 2010, 01:57:16 PM »
There are other countries where two coinages do circulate to some extent. However, these are legacy situations.

The Cook Islands.
Until 1995 the C.I. ran a currency board, with the New Zealand dollar as the anchor currency. It produced its own coins and banknotes, but in 1994 the New Zealand banks refused to accept C.I. notes, as they were no longer backed 100% by N.Z. currency. C.I. uses N.Z. currency now and scarcely any of its own currency, apart from the $5 coin, which is not matched by any N.Z. coin denomination. NZ$5 notes also circulate. 

Tuvalu.
The Australian dollar is the official currency of Tuvalu. Australian paper money and coins are in circulation around the islands. Some Tuvaluan coins, mostly of 1976 vintage, are also in circulation.

Kiribati
Kiribati started issuing its own coinage in 1979, but only the 1989 $2 is now found in circulation. The Australian dollar is the official currency of Kiribati.

See also The Official Currencies and Coinages of Oceania.

« Last Edit: July 25, 2010, 02:18:16 PM by E.M.U. »
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