Kirib
| Kirb | |
|---|---|
 | |
| ISO 4217 | |
| Code | KRB |
| Number | 001 |
| Exponent | 2 |
| Denominations | |
| Subunit | |
| 100 | albon |
| Plural | Kiribin Kiribs |
| Symbol | ♅ |
| Nickname | None |
| Banknotes | 500, 200, 100, 50, 20, 10 and 5 KRB |
| Coins | 2 and 1 KRB, 50, 20, 10, 5, 2 and 1 albon |
| Demographics | |
| Date of introduction | 1422 - Establishment |
| Replaced | Oan tara (Oan Isles) Net'a (Baykalia, Tuvaltastan and Tivot) |
| User(s) | Axdel Baykalia Blueacia Dragonia Durentrus Emberwood Coast Faethalria Great Morstaybishlia Nolova Oan Isles Sarentria Tivot Tuvaltastan Yor |
| Issuance | |
| Central bank | Auroran Central Bank |
| Website | acb.caek |
| Printer | Staynish Bank Note Company |
| Mint | Royal Staynish Mint |
The Kirib (symbol: ♅; ISO code: KRB) is a multinational currency used by countries of the continent of Aurora. It is one of the largest reserve currencies in the world.
History
The Kirib is the world's oldest currency still in use.
Morstaybishlia
The Morstaybishlian Kiribin was a unit of account in 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. On the 15th of April 1893, the Bank of the Morstaybishlian Empire decimalised its currency following its impracticality and adoption in several new nations.
Governance
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.
Value and users
The kirib is a fiat currency. That means it cannot be exchanged for a resource, its value represents (and subsequently fluctuates with) the strength of the economy of Aurora. The average value of the kirib during the 2017/2018 financial year is 1 KRB = 1 South Hills dollar. The value of the currency is guaranteed by the foreign exchange reserves of its member states, which are Absurdistan, Axdel, Baykalia, Blueacia, Dragonia, Emberwood Coast, Faethalria, Frorkstolm, Great Morstaybishlia Kothalria, Kostoria-Obertonia, Kostromastan, the Necraties Islands, Oceansend City State, Thalria, The Oan Isles, Tivot, Tuvaltastan, Vothetria, Xagrurg, Xiopothos and the Yor Isles.