Kirib: Difference between revisions
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The Kirib is the world's oldest currency still in use.
===
The ''Morstaybishlian Kiribin'' was a unit of account in [[Staynes#Ancient_Morstaybishlia|Morstaybishlian]] Staynes, equal to 128 silver albon and equivalent to one pound weight of silver. It evolved into the modern Auroran currency, the ''Kirib''.
The origin of the Kirib lie in the reign of King Gustav I (1383-1462), who introduced the monetary system in 1422.
=== Decimalisation ===
On the 15th of April 1893, the Bank of the Morstaybishlian Empire decimalised its currency following its impracticality and adoption in several new nations.
=== Internationalisation ===
== Governance ==
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The kirib was formally issued by the Bank of Staynes and was established in terms of Morstaybishlian law. Other countries came to use it through bilateral treaties with Great Morstaybishlia. As the number of users grew, the currency was restructured and placed under international law through the adoption of multilateral treaties by participating nations. Now, the kirib is an international currency that is given legal effect in member states by the governments which rule them. In this process, member states comprise the Kirib Monetary Union (known colloquially as the Kiribzone) which is independent of the geopolitical organisations of the Auroran continent. The central bank of the Kiribzone is the [[Auroran Central Bank]] (abbreviated ACB). The ACB has assumed many of the functions that were undertaken by the Bank of Staynes and the central banks of participating states. It is responsible for regulating the supply, distribution, issuance, stability and exchangeability of the kirib. Member states retain authority over banking regulation, acting as the sole bankers to member states' governments, acting as the lenders of last resort in member states' financial systems and advising their governments of financial policies.
==
The following list contains extant nations which are currently official and unofficial users of the currency.
{| class="wikitable"
!Country name
!Date of adoption
!Notes
|-
|[[File:Axdel Flag.png|25px|link=https://tep.wiki/wiki/File:Axdel_Flag.png]] [[Axdel]]
|1970
|Continued use following independence from Great Morstaybishlia
|-
|[[File:Baykaflag.png|25px|link=https://tep.wiki/wiki/File:Baykaflag.png]] [[Baykalia]]
|2005
|Adopted following the dissolution of Salovia
|-
|[[File:Yellow Lily Flag 5.png|25px|link=https://tep.wiki/wiki/File:Yellow_Lily_Flag_5.png]] [[Blueacia]]
|2005
|Adopted following the dissolution of Salovia
|-
|[[Dragonia]]
|
|
|-
|[[File:Durentrus flag.png|25px|link=https://tep.wiki/wiki/File:Durentrus_flag.png]] [[Durentrus]]
|2017
|Continued use following the dissolution of the Ethalrian Republic
|-
|[[File:EmberwoodCoastFlag.jpg|25px|link=https://tep.wiki/wiki/File:EmberwoodCoastFlag.jpg]] [[Emberwood Coast]]
|1970
|Continued use following independence from Great Morstaybishlia
|-
|[[File:Faethalria.png|25px|link=https://tep.wiki/wiki/File:Faethalria.png]] [[Faethalria]]
|2017
|Continued use following the dissolution of the Ethalrian Matriarchy
|-
|[[File:New MBE Flag.png|25px|link=https://tep.wiki/wiki/File:New_MBE_Flag.png]] [[Great Morstaybishlia]]
|1422
|Founding nation
|-
|[[File:Future Ethalrian Flag.png|25px|link=https://tep.wiki/wiki/File:Future_Ethalrian_Flag.png]] [[North Ethalrian Confederacy]]
|2021
|Continued use following the amalgamation of Vothetria and Kothalria
|-
|[[File:Nolovaflag.png|25px|link=https://tep.wiki/wiki/File:Nolovaflag.png]] [[Nolova]]
|2017
|Adopted following independence from Kostromastan
|-
|[[File:Flag of the Oan Isles.png|25px|link=https://tep.wiki/wiki/File:Flag_of_the_Oan_Isles.png]] [[The Oan Isles|Oan Isles]]
|2018
|Adopted when the Oan Isles joined the UNAC
|-
|[[File:Sarentria flag.png|25px|link=https://tep.wiki/wiki/File:Sarentria_flag.png]] [[Sarentria]]
|2017
|Continued use following the dissolution of the Ethalrian Republic
|-
|[[File:Communist Thalria.jpg|frameless|25x25px]] [[Thalria]]
|2017
|Unofficial user. Continued use following the dissolution of the Ethalrian Matriarchy
|-
|[[File:Tivotflag.png|25px|link=https://tep.wiki/wiki/File:Tivotflag.png]] [[Tivot]]
|2005
|Adopted following the dissolution of Salovia
|-
|[[File:Tuvaltflag.png|25px|link=https://tep.wiki/wiki/File:Tuvaltflag.png]] [[Tuvaltastan]]
|2005
|Adopted following the dissolution of Salovia
|-
|[[File:York Flag.png|25px|link=https://tep.wiki/wiki/File:York_Flag.png]] [[Yor]] Isles
|
|
|}
As of April 2021, no nations have withdrawn from the kirib while they were independent. All the nations which stopped using the kirib did so because they were legally dissolved or annexed by another state. These are:
* The [[Grand Matriarchy of Ethalria]] stopped using the kirib when it was dissolved and divided into the [[Ethalria (Republic)|Republic of Ethalria]] and [[Ethalria (Matriarchy)|Matriarchy of Ethalria]] which continued using the currency after its dissolution.
* [[Kostoria-Obertonia]] stopped using the kirib when it was annexed by Faethalria in 2019.
* Thalria stopped officially using the kirib when it became a communist state in 2019, but the currency is still used unofficially.
* [[Vothetria]] and [[Kothalria]] stopped using the kirib when they lost their status as independent nations and became part of the North Ethalrian Confederacy.
* [[Asilica]] stopped using the kirib when it became independent of the Grand Matriarchy of Ethalria
* [[Lyrevale]] stopped using the kirib when it lost its independence was annexed by Axdel.
* [[Norograd]] stopped using the kirib when it was succeeded by Axdel.
== Exchange rate ==
The kirib was linked to precious metal reserves of the Bank of Staynes for most of its history. With the start of the industrialisation of mainland Aurora, this became untenable and thus the kirib became a solely representative currency for precious metal deposits held by the Bank of Staynes. The metal reserve standard was abandoned in the 20th century and the currency became a fiat currency. It adopted a managed float regime during its transition. Following the fading out of the managed float regime, it has been controlled entirely by market forces through the adoption of a free floating exchange regime. The average exchange rate of the kirib to major world currency has been as follows:
{| class="wikitable"
|+Average exchange rate by year
!Year
!Kirib
!Standard Hawkings Dollar
!Southeast Yasterian Recan
!Salovian Net'a
!Oan tara
|-
|2021
|1
|
|
|No longer in use
|No longer in use
|-
|2020
|1
|
|
|No longer in use
|No longer in use
|-
|2019
|1
|
|
|No longer in use
|No longer in use
|-
|2018
|1
|
|
|No longer in use
|7.57
|-
|2017
|1
|
|
|No longer in use
|7.52
|-
|2016
|1
|
|
|No longer in use
|7.48
|-
|2015
|1
|
|
|No longer in use
|7.36
|-
|2014
|1
|
|
|No longer in use
|7.21
|-
|2013
|1
|
|
|No longer in use
|7.18
|-
|2012
|1
|
|
|No longer in use
|6.93
|-
|2011
|1
|
|
|No longer in use
|6.81
|-
|2010
|1
|
|
|No longer in use
|6.34
|-
|2000 to 2009
|1
|
|
|Last used in 2005
|6.53
|-
|1990 to 1999
|1
|
|
|
|6.89
|-
|1980 to 1989
|1
|
|
|
|7.10
|-
|1970 to 1979
|1
|
|
|
|7.45
|-
|1960 to 1969
|1
|
|
|
|7.73
|-
|1950 to 1959
|1
|
|
|
|8.17
|}
| |||