query: What is the currency used in China?

title: History of Chinese currency

text: as the main foreign trade and exchange bank. Foreign visitors to China were required to conduct transactions with Foreign Exchange Certificates issued by the Bank of China between 1979 and 1994. These have been abolished, and all transactions now occur in Renminbi. History of Chinese currency The history of Chinese currency spans more than 3000 years. Currency of some type has been used in China since the Neolithic age which can be traced back to between 3000 and 4500 years ago. Cowry shells are believed to have been the earliest form of currency used in Central China, and were used

title: History of Chinese currency

text: base unit of currency remained the copper coin. Copper coins were used as the chief denomination of currency in China until the introduction of the yuan in the late 19th century. Currently, the "renminbi" is the official currency of the People's Republic of China (PRC). It is the legal tender in mainland China, but not in Hong Kong or Macau. The special administrative regions of Hong Kong and Macau use the Hong Kong dollar and the Macanese pataca, respectively. The use of shell money is attested to in the Chinese writing system. The traditional characters for 'goods' (), 'buy/sell' (),

title: Yuan (currency)

text: Yuan (currency) The yuan (; sign: ¥; ; ) is the base unit of a number of former and present-day currencies in Chinese. A "yuan" () is also known colloquially as a "kuai" (; originally a lump of silver). One "yuan" is divided into 10 "jiao" () or colloquially "mao" ( "feather"). One "jiao" is divided into 10 "fen" (). Today, it usually refers to the primary unit of account of the renminbi, the currency of the People's Republic of China. It is also used as a synonym of that currency, especially in international contexts – the ISO 4217 standard

title: Chinese cash (currency unit)

text: Chinese cash (currency unit) The cash () was a currency denomination used in China in imperial times. It was the chief denomination until the introduction of the yuan in the late 19th century. The English term "cash" was first used on coins issued in Kwangtung (Guangdong) Province in 1900. It did not appear on paper money until later. The plural forms "cash" and "cashes" were both used. The English word "cash", meaning "tangible currency", is an older word from Portuguese "caixa" or Middle French "caisse" ("box, chest, case"). The Chinese character "wen" () has several other meanings in modern Chinese.

title: Yuan (currency)

text: Taiwan, replacing the first at a rate of 40,000 to 1. Known as the New Taiwan dollar, it remains the currency of Taiwan. Originally, a silver yuan had the same specifications as a silver Spanish dollar. During the Republican era (1911–1949), the transliteration "yuan" was often printed on the reverse of the first yuan banknotes but sometimes "dollar" was used instead. In the Republic of China, the common English name is the "New Taiwan dollar" but banknotes issued between 1949 and 1956 used "yuan" as the transliteration. More modern notes lack any transliteration. Yuan (currency) The yuan (; sign: ¥;

title: Local currency

text: the airline. 5. While most of these currencies are restricted to a small geographic area or a country, through the Internet electronic forms of complementary currency can be used to stimulate transactions on a global basis. In China, Tencent's QQ coins are a virtual form of currency that has gained wide circulation. QQ coins can be bought for Renminbi and used to buy virtual products and services such as ringtones and on-line video game time. They can also be obtained through on-line exchange for goods and services at about twice the Renminbi price, by which additional 'money' is being directly

title: Chao (currency)

text: Chao (currency) The chao () was the official banknote of the Yuan dynasty in China. Unlike the earlier paper money such as jiaozi, it was the first paper currency to be used as the predominant circulating medium in the history of China. The primary press was the Imperial Mint established in 1260, probably in Yanjing. It was certainly located in Khanbaliq after that city was established the same decade. Regional capitals were sometimes authorized to print money as well. The money of the various eras of the Yuan were also separately known, as the Zhongtong notes and Zhiyuan notes of

title: Chao (currency)

text: be a complete failure, and Gaykhatu was assassinated shortly afterward. Chao (currency) The chao () was the official banknote of the Yuan dynasty in China. Unlike the earlier paper money such as jiaozi, it was the first paper currency to be used as the predominant circulating medium in the history of China. The primary press was the Imperial Mint established in 1260, probably in Yanjing. It was certainly located in Khanbaliq after that city was established the same decade. Regional capitals were sometimes authorized to print money as well. The money of the various eras of the Yuan were also

title: Yuan (currency)

text: market, the Chinese yuan (CNY) refers to the renminbi (RMB), which is the official currency used in mainland China. Having been in use for at least 2000 years, the yuan was the first decimal currency system. It is also the first to use metal coins and bank notes, which significantly shaped the global financial system. In Standard (Mandarin) Chinese, "yuán" literally means a "round object" or "round coin". During the Qing Dynasty, the yuan was a round coin made of silver. In informal contexts, the word is written with the simplified Chinese character , that literally means "beginning". In formal

title: Yuan (currency)

text: new currency, in banknote form only, denominated in yuan. This became the sole currency of mainland China at the end of the civil war. A new yuan was introduced in 1955 at a rate of 10,000 old yuan = 1 new yuan, known as the renminbi yuan. It is the currency of the People's Republic of China to this day. In 1946, a new currency was introduced for circulation in Taiwan, replacing the Japanese issued Taiwan yen. Known as the Old Taiwan dollar. It was not directly related to the mainland yuan. In 1949, a second yuan was introduced in

title: Chinese cash (currency unit)

text: "wén" and written with the same character. In 1695, the Shogunate placed the character "gen" () on the obverse of copper coins. Vietnam gained independence from China in 938 and merely carried on the tradition of using cash. The first Vietnamese cash was issued in 968. Chinese cash (currency unit) The cash () was a currency denomination used in China in imperial times. It was the chief denomination until the introduction of the yuan in the late 19th century. The English term "cash" was first used on coins issued in Kwangtung (Guangdong) Province in 1900. It did not appear on

title: Yuan (currency)

text: Japanese. The pre-existing, national currency yuan came to be associated only with the Nationalist, Kuomintang government. In 1935, the Kuomintang Government enacted currency reforms to limit currency issuance to four major government controlled banks: the Bank of China, Central Bank of China, Bank of Communications and later the Farmers Bank of China. The circulation of silver yuan coins was prohibited and private ownership of silver was banned. The banknotes issued in its place were known as fabi () or "Legal tender". A new series of base metal coins began production in 1936 following the reforms. The Japanese established two collaborationist

title: History of Chinese currency

text: by the Central Mint of China. This currency was short-lived, as the Communist Party of China soon gained control of the Mainland provinces. It was replaced by currency issued by the People's Bank of China which was less prone to inflation. After the retreat of the Kuomintang to Taiwan, the silver yuan remained the de jure legal currency of account of the Republic of China, although only Taiwan dollars issued by the Bank of Taiwan were circulating in areas controlled by the ROC. After a currency reform in 1949 created the New Taiwan dollar, the statutory exchange rate was set

title: Currency Exchange Rate Oversight Reform Act of 2011

text: States had a $270 billion trade deficit with China (Chinese imports totalling $360 billion compared to only $90 billion in American exports) in part to what most U.S. economists warn as an undervaluation of the Chinese currency, Yuan, which in turn gives its exporters a significant advantage in the global economy. China stated that this legislation, if passed, could spark a trade war. China has also cited Statistics that its currency has appreciated thirty percent in value relative to the dollar since 2005. Additionally, they point to Federal Reserve Chairman Ben Bernanke's "Quantitative Easing" (such as QE1 and QE2) to

title: Currency war

text: had been a currency war in 2010 generally concluded that it had fizzled out by mid-2011. States engaging in possible competitive devaluation since 2010 have used a mix of policy tools, including direct government intervention, the imposition of capital controls, and, indirectly, quantitative easing. While many countries experienced undesirable upward pressure on their exchange rates and took part in the ongoing arguments, the most notable dimension of the 2010–11 episode was the rhetorical conflict between the United States and China over the valuation of the yuan. In January 2013, measures announced by Japan which were expected to devalue its currency

title: Currency band

text: floating exchange rate. For example, the exchange rate of the "renminbi" of the mainland of the People's Republic of China has recently been based upon a currency band; the European Economic Community's "snake in the tunnel" was a similar concept that failed, but ultimately led to the establishment of the European Exchange Rate Mechanism (ERM) and ultimately the Euro. Currency band A currency band is a range of values for the exchange rate for a country’s currency which the country’s central bank acts to keep the exchange rate within. The central bank selects a range, or "band", of values at

title: Currency Wars

text: Chen Zhiwu (Yale University) affirmed the reference values of the details the book provided, such as "what the Rothschild family did, how impacts the financial sector has on a country's development, etc". However, he finds the author, by that time the structured finance department manager of Hong Yuan securities, lacks financial expertise to be qualified to prescribe China with future directions. Zhang Xin (University of Toledo/Ohio) finds the book rich in historical knowledge, of which many he would not be able to analyse, but as a currency and financial system researcher, he believes the framework of the book is completely

title: Currency Wars

text: Financial Times reported as being one of the most popular books in China by late 2009. More than two million copies have been sold. In this book, Song predicted that by 2024, the world's single currency system will mature. He believes that if China can not be dominant in this system, it should not participate, but should be self-hill, have their own sphere of financial influence. This last topic is much more developed in the second sequel. In May 2011, "Currency Wars 3: Financial High Frontier" (), a second sequel was published by Yuan-Liou Publishing (). It discusses more specifically

title: Renminbi currency value

text: appreciation of the Yuan in order to reduce domestic inflation and to increase the wealth of Chinese citizens. Others in China view this dispute as an attempt to ring in China's economic development as part of a strategy for economic imperialism of the industrialized world led by the United States. They likened it to the unequal treaties signed after the Boxer rebellion and the First and Second Opium Wars. Renminbi currency value Renminbi currency value is a debate affecting the Chinese currency unit, the "renminbi" ( Code:CNY). The "renminbi" is classified as a fixed exchange rate currency "with reference to

title: Currency swap

text: in U.S. dollars to overseas markets." While central bank liquidity swaps and currency swaps are structurally the same, currency swaps are commercial transactions driven by comparative advantage, while central bank liquidity swaps are emergency loans of US Dollars to overseas markets, and it is currently unknown whether or not they will be beneficial for the Dollar or the US in the long-term. The People's Republic of China has multiple year currency swap agreements of the Renminbi with Argentina, Belarus, Brazil, Hong Kong, Iceland, Indonesia, Malaysia, Russia, Singapore, South Korea, United Kingdom and Uzbekistan that perform a similar function to central

title: Digital currency

text: destabilizing effect on the Chinese Yuan currency due to speculation. Recent interest in cryptocurrencies has prompted renewed interest in digital currencies, with bitcoin, introduced in 2008, becoming the most widely used and accepted digital currency. According to the European Central Bank's 2015 "Virtual currency schemes – a further analysis" report, virtual currency is a digital representation of value, not issued by a central bank, credit institution or e-money institution, which, in some circumstances, can be used as an alternative to money. In the previous report of October 2012, the virtual currency was defined as a type of unregulated, digital money,

title: World currency

text: President of the People's Bank of China, called for "creative reform of the existing international monetary system towards an international reserve currency," believing it would "significantly reduce the risks of a future crisis and enhance crisis management capability." Zhou suggested that the IMF's special drawing rights (a currency basket comprising dollars, euros, renminbi, yen, and sterling) could serve as a super-sovereign reserve currency, not easily influenced by the policies of individual countries. US President Obama, however, rejected the suggestion stating that "the dollar is extraordinarily strong right now." At the G8 summit in July 2009, the Russian president expressed Russia's

title: Currency War of 2009–11

text: early October 2010. Economic commentators such as Martin Wolf have speculated that China is wary of complying with pressure to allow a substantial currency appreciation as she considers the long period of stagnation Japan experienced after the "Plaza accord" as in part resulting from Japan allowing a substantial appreciation of her currency against the dollar. Chinese premier Wen Jiabao has stated that reforms to re-balance the Chinese economy away from its current dependency on exports are well underway and that the yuan is being allowed to gradually appreciate. He warned that if China is forced to revalue its currency too

title: Yuan (currency)

text: code for renminbi is CNY, an abbreviation of "Chinese yuan". (A similar case is the use of the terms "sterling" to designate British currency and "pound" for the unit of account.) The symbol for the yuan (元) is also used in Chinese to refer to the currency units of Japan "(yen)" and Korea "(won)", and is used to translate the currency unit "dollar" as well as some other currencies; for example, the United States dollar is called "Meiyuan" () in Chinese, and the euro is called "Ouyuan" (). When used in English in the context of the modern foreign exchange

title: Currency War of 2009–11

text: intervening on a wider scale back in 2009. George Soros expressed concern saying "I share the growing concern about the misalignment of currencies. Brazil’s finance minister speaks of a latent currency war, and he is not far off the mark. It is in the currency markets where different economic policies and different economic and political systems interact and clash." Considerable attention had been focused on China. For much of 2009 and 2010, China has been under pressure from the US to allow the yuan to appreciate. Between June and October 2010, China allowed a 2% appreciation of the yuan, but

title: History of Chinese currency

text: History of Chinese currency The history of Chinese currency spans more than 3000 years. Currency of some type has been used in China since the Neolithic age which can be traced back to between 3000 and 4500 years ago. Cowry shells are believed to have been the earliest form of currency used in Central China, and were used during the Neolithic period. Around 210 BC, the first emperor of China Qin Shi Huang (260–210 BC) abolished all other forms of local currency and introduced a uniform copper coin. Paper money was invented in China in the 9th century, but the

title: Currency manipulator

text: shows that “an increase of one percentage in the share of congressional district labour force in manufacturing is associated with a 19.6% increase in the likelihood that the district legislator will label China a ‘currency manipulator’” One of the countries that most called out as a currency manipulator is China. A decade ago, most economists agreed that China’s currency was undervalued, but whether it can be labelled as a currency manipulator depends on the used criteria. For example, conclude that China’s currency intervention policies are not in international law, i.e. Articles of Agreement of the International Monetary Fund (IMF), and

title: Currency manipulator

text: 2% of GDP spent buying foreign assets to depress the value of its currency.” This shows that from an international perspective (instead of a U.S. perspective), China has not been the major currency manipulator since 2009. Currency manipulator Currency manipulator is a popular term used to indicate countries that manipulate the rate of exchange for purposes of preventing effective balance of payments adjustment or gaining unfair competitive advantage in international trade or simply a country that intervenes in its foreign exchange market. Currency manipulation or currency intervention is a monetary policy operation which occurs when a government or central bank

title: Currency war

text: author emphasizes that these questions are matters of policy and choice, which can be different." Historically, the term has been used to refer to the competition between Japan and China for their currencies to be used as the preferred tender in parts of Asia in the years leading up to Second Sino-Japanese War. Currency war Currency war, also known as competitive devaluations, is a condition in international affairs where countries seek to gain a trade advantage over other countries by causing the exchange rate of their currency to fall in relation to other currencies. As the exchange rate of a

title: Currency Wars

text: Currency Wars Currency Wars () by Song Hongbing, also known as The Currency War, is a bestseller in China, reportedly selling over 200,000 copies in addition to an estimated 400,000 unlicensed copies in circulation and is reportedly being read by many senior level government and business leaders in China. Originally published in 2007 the book gained a resurgence in 2009 and is seen as a prominent exponent of a recently emerged genre labeled "economic nationalist" literature. Another bestselling book within this genre is "Unhappy China"; however, unlike this and other books within this genre, "Currency Wars" has been received more

title: Japanese currency

text: the old currency (旧円券) and introduced the "New Yen" (新円券). Meanwhile, American occupation forces used a parallel system, called B yen, from 1945 to 1958. Since then, together with the economic expansion of Japan, the yen has become one of the major currencies of the world. Early Japanese Coins. David Hartill. Japanese currency Japanese currency has a history covering the period from the 8th century to the present. After the traditional usage of rice as currency medium, Japan's currency was characterized by an early adoption of currency systems and designs from China before developing a separate system of its own.

title: Japanese currency

text: Japanese currency Japanese currency has a history covering the period from the 8th century to the present. After the traditional usage of rice as currency medium, Japan's currency was characterized by an early adoption of currency systems and designs from China before developing a separate system of its own. Before the advent of the 7-8th century CE, Japan used commodity money for its exchanges. It generally consisted of material that was compact, easily transportable and had a widely recognized value. Commodity money was a great improvement over simple barter, in which commodities were simply exchanged against others. Ideally, commodity money

title: Currency Wars

text: Song says the direct consequence was that the Federal Reserve lost its monopoly to control money. The book looks back at history and argues that fiat currency itself is a conspiracy; it sees in the abolition of representative currency and the installment of fiat currency a struggle between the "banking clique" and the governments of the western nations, ending in the victory of the former. It advises the Chinese government to keep a vigilant eye on China's currency and instate a representative currency. The book has achieved bestseller status in China. Although acknowledging the book's huge popularity in China, the

title: Currency-counting machine

text: Currency-counting machine A currency-counting machine is a machine that counts money—either stacks of banknotes or loose collections of coins. Counters may be purely mechanical or use electronic components. The machines typically provide a total count of all money, or count off specific batch sizes for wrapping and storage. Currency counters are commonly used in vending machines to determine what amount of money has been deposited by customers. In some modern automated teller machines, currency counters allow for cash deposits without envelopes, since they can identify which bills have been inserted instead of just how many. The user is given the

title: Currency

text: a circulating medium could only be as sound as the forces that defended that store. Trade could only reach as far as the credibility of that military. By the late Bronze Age, however, a series of treaties had established safe passage for merchants around the Eastern Mediterranean, spreading from Minoan Crete and Mycenae in the northwest to Elam and Bahrain in the southeast. It is not known what was used as a currency for these exchanges, but it is thought that ox-hide shaped ingots of copper, produced in Cyprus, may have functioned as a currency. It is thought that the

title: Digital currency

text: founded in 1996 and backed by gold. Another known digital currency service was Liberty Reserve, founded in 2006; it lets users convert dollars or euros to Liberty Reserve Dollars or Euros, and exchange them freely with one another at a 1% fee. Both services were centralized, reputed to be used for money laundering, and inevitably shut down by the U.S. government. Q coins or QQ coins, were used as a type of commodity-based digital currency on Tencent QQ's messaging platform and emerged in early 2005. Q coins were so effective in China that they were said to have had a

title: Cash (currency)

text: n.1. From an early date the Portuguese applied "caixa" (probably on the same analogy) to the small money of other foreign nations, such as that of Maritime Southeast Asia, and especially the Chinese, which was also naturally made into cash in English. (Yule)" The English word "cash," meaning "tangible currency," is an older word from Middle French "caisse". In China, "cash" - not to be confused with the type of copper coin - refers to a unit used for centuries for copper coinage and banknote equivalents known as "wén" (文). Being the first country to implement paper based currency, in

title: Currency Wars

text: wrong and criticizes the book as lacking in "common sense". The author responded to these comment by saying "While many scholars have voiced their objections to this book, they are aimed at the details of the book, not its logic or structure." Currency Wars Currency Wars () by Song Hongbing, also known as The Currency War, is a bestseller in China, reportedly selling over 200,000 copies in addition to an estimated 400,000 unlicensed copies in circulation and is reportedly being read by many senior level government and business leaders in China. Originally published in 2007 the book gained a resurgence

title: History of Chinese currency

text: with the "Imperial Bank of China" and the "Hu Pu Bank" (later the "Ta-Ch'ing Government Bank"), established by the Imperial government. The Republic of China was founded after the Xinhai Revolution toppled the Qing Dynasty. The Nanjing Provisional Government of the Republic of China urgently needed to issue military currency for use in place of the previous Qing currency. Successively, each province declared independence from the Qing and issued their own military currency. In 1914, the National Currency Ordinance established the silver dollar as the national currency of the Republic of China. Although designs changed compared with Imperial era coins,

title: The World Is Curved

text: standard of living, and this will cause a serious chain effect. What happens in China is affecting the world. The problem is that China is growing too big. Therefore, the problem that bubbles occur is more serious than we think. European strategists pointed out that in the 1970s, Germany experienced a strong growth rate and a higher capital inflow in the 1970s. The only way to prove that it was effective to safely land the economy at the time was a currency value. Other methods did not work. On the basis of this, European bureaucrats argued that curbing inflation is

title: Reserve currency

text: Russia and the People's Republic of China, central banks, and economic analysts and groups, such as the Gulf Cooperation Council, have expressed a desire to see an independent new currency replace the dollar as the reserve currency. On 10 July 2009, Russian President Medvedev proposed a new 'world currency' at the G8 meeting in London as an alternative reserve currency to replace the dollar. China, Russia, India, Turkey, Brazil, Venezuela and other oil-producing countries have recently agreed "to transact all of their mutual trade and investment in their own currencies" effectively minimizing the need, at least in the short term,

title: Reserve currency

text: Fund's (IMF) special drawing rights (SDRs) as a reserve. China has proposed using SDRs, calculated daily from a basket of U.S. dollar, euro, Japanese yen and British pounds, for international payments. On 3 September 2009, the United Nations Conference on Trade and Development (UNCTAD) issued a report calling for a new reserve currency based on the SDR, managed by a new global reserve bank. The IMF released a report in February 2011, stating that using SDRs "could help stabilize the global financial system." Reserve currency A reserve currency (or anchor currency) is a currency that is held in significant quantities

title: Cash (currency)

text: Cash (currency) Cash is a name for several historical currencies used in Asia. It is applied to units used in China, Vietnam, and the Princely states of Madras and Travancore in British India. It is also occasionally used to refer to the Korean mun and the Japanese mon. Skr. "karsha" 'a weight of silver or gold equal to of a tulā' (Williams); Singhalese "kāsi" coin. The early Portuguese writers represented the native word by "cas, casse, caxa," the Fr. by "cas", the Eng. by "cass": the existing Pg. "caixa" and Eng. cash are due to a natural confusion with CASH

title: Currency board

text: Helena continue to operate currency boards, backing their locally printed currency notes with pound sterling reserves. A gold standard is a special case of a currency board where the value of the national currency is linked to the value of gold instead of a foreign currency. For a precise definition of what constitutes a currency board, including past examples, see: Currency board A currency board is a monetary authority which is required to maintain a fixed exchange rate with a foreign currency. This policy objective requires the conventional objectives of a central bank to be subordinated to the exchange rate

title: Currency Act

text: than what was taxed out of circulation, the currency depreciated in relation to the British pound sterling. The resultant inflation was harmful to merchants in Great Britain, who were forced to accept the depreciated currency from colonists for payment of debts. The Act limited the future issue of bills of credit to certain circumstances. It allowed the existing bills to be used as legal tender for public debts (i.e. paying taxes), but disallowed their use for private debts (e.g. for paying merchants). The Currency Act 1764 (4 Geo. III c. 34) extended the 1751 Act to all of the British

title: Japanese currency

text: the expansion of trade and barter again highlighted the need for a currency. Chinese coinage came to be used as the standard currency of Japan, for a period lasting from the 12th to the 17th century. Coins were obtained from China through trade or through ""Wakō"" piracy. Coins were also imported from Annam (modern Vietnam) and Korea. As the Chinese coins were not in sufficient number as trade and economy expanded, local Japanese imitations of Chinese coins were made from the 14th century, especially imitations of Ming coins, with inscribed names identical to those of contemporary Chinese coins. These coins

title: Currency pair

text: Currency pair A currency pair is the quotation of the relative value of a currency unit against the unit of another currency in the foreign exchange market. The currency that is used as the reference is called the counter currency, quote currency or currency and the currency that is quoted in relation is called the base currency or transaction currency. Currency pairs are generally written by concatenating the ISO currency codes (ISO 4217) of the base currency and the counter currency, and then separating the two codes with a slash. Alternatively the slash may be omitted, or replaced by either

title: History of Chinese currency

text: early re-unification period. This currency also experienced rapid inflation and issues were suspended in 1450 although notes remained in circulation until 1573. It was only in the very last years of the Ming dynasty when Li Zicheng threatened Beijing in 1643 and 1644 that printing took place again. For most of the Ming China had a purely private system of currency for all important transactions. Silver, which flowed in from overseas, began to be used as a currency in the Far South province of Guangdong where it spread to the lower Yangzi region by 1423 when it became legal tender

title: Absolute currency strength

text: strength. Shorter or longer timeframes are used for alternately shorter or longer outlooks. Extreme high and low percentage values occur less frequently but indicate stronger momentum of currency. ACS is in most cases used as support indicator for Relative currency strength indicator. But it can be used by itself for currency trading. One can use Absolute currency strength for pattern trading as well. Combination of RCS and ACS indicators gives entry and exit signals for currency trading. Indicator basic idea is "buy strong currency and sell weak currency". If is X/Y currency pair in uptrend, it shows if it is

title: What Is the What

text: That Happens Will Happen Today". Tom Tykwer plans to adapt the novel into a film. In 2009, the novel received the Prix Médicis étranger in France. What Is the What What Is the What: The Autobiography of Valentino Achak Deng is a 2006 novel written by Dave Eggers. It is based on the life of Valentino Achak Deng, a Sudanese child refugee who immigrated to the United States under the Lost Boys of Sudan program. It was a finalist for the National Book Award. As a boy, Achak is separated from his family during the Second Sudanese Civil War when

title: What Is the What

text: What Is the What What Is the What: The Autobiography of Valentino Achak Deng is a 2006 novel written by Dave Eggers. It is based on the life of Valentino Achak Deng, a Sudanese child refugee who immigrated to the United States under the Lost Boys of Sudan program. It was a finalist for the National Book Award. As a boy, Achak is separated from his family during the Second Sudanese Civil War when the Arab militia, referred to as "murahaleen" (which is Arabic for the deported), wipes out his Dinka village, Marial Bai. During the assault, he loses sight

title: Currency strength

text: indexes of this kind, major currencies are usually used because they represent up to 90% of the whole forex market volume. Currency strength is calculated from the U.S. Dollar Index, which is used as a reference for other currency indexes. The basic idea behind indicators is "to buy strong currency and to sell weak currency". If is X/Y currency pair is up trend, you are able to determine whether this happens due to X's strength or Y's weakness. With indicators of this kind one is able to choose the most valuable pair to trade; see the reactions of each currency

title: Currency substitution

text: currency substitution by adopting the US dollar as legal tender in 1904. This type of currency substitution is also known as de jure currency substitution. Currency substitution can be used semiofficially (or officially bimonetary systems), where the foreign currency is legal tender alongside the domestic currency. In literature, there is a set of related definitions of currency substitution such as external liability currency substitution, domestic liability currency substitution, banking sector's liability currency substitution or deposit currency substitution, and credit dollarlization. External liability currency substitution measures total external debt (private and public) denominated in foreign currencies of the economy. Deposit currency

title: British currency in the Middle East

text: already risen in value against the pound sterling as a result of sterling's devaluation in 1967, and so the new Omani rial was not equal in value to the dinars in the nearby territories. The currency units that are used in Israel, Jordan, Iraq, Kuwait, Bahrain, Oman, and the Yemen are all descended from the pound sterling unit, while the currency units that are used in Saudi Arabia, Qatar, and the United Arab Emirates are all descended from the Maria Theresa Thaler. This largely explains the factor of ten difference in value on average between Bahrain, Kuwait and Oman on

title: Here Is What Is

text: some of the tracks ("Beauty" and "Chest of Drawers") are conversations with Brian Eno. All songs written by Daniel Lanois unless otherwise noted. "Where Will I Be" is a new version of a song which had been previously released on Emmylou Harris' album "Wrecking Ball" in 1995. "Lovechild" and "Sacred And Secular" tracks incorporates, respectively, the pedal steel guitar melody used in "Carla", on Belladonna album, and the pedal steel guitar melody used in "Transmitter", on Shine album. Here Is What Is Here Is What Is is the fifth studio album by Canadian songwriter and record producer Daniel Lanois. It

title: British currency in the Middle East

text: today and the currency that is used in the United Kingdom. British currency in the Middle East British involvement in the Middle East began with the Aden Settlement in 1839. The British East India Company established an anti-piracy station in Aden to protect British shipping that was sailing to and from India. The Trucial States were similarly brought into the British Empire as a base for suppressing sea piracy in the Persian Gulf. Involvement in the region expanded to Egypt because of the Suez canal, as well as to Bahrain, Qatar, and Muscat. Kuwait was added in 1899 because of

title: Currency packaging

text: bank and branch details is applied to the plastic package seal. Vacuum packing is the most reliable and effective way of storing currency units, enabling the currency to be protected against tarnishing, such as from moisture and dirt. Vacuum packed banknotes also take up less space in containers used during cash transportation. Currency units are vacuum packed by means of a vacuum sealer. Bags used to hold a specific amount of paper currency. Usually tamper evident, and has labels to make notes on the front. Bags used to hold a specific number of coins. Tubes used to hold a specific

title: Currency War of 2009–11

text: fast that it would lead to social unrest in China, bankruptcy for export dependent companies and "disaster for the world". In October, China posted a record surge in its foreign exchange reserves, which was seen as a "target around the neck of China’s exchange rate regime" in the effort to get the country to allow its currency to appreciate. In reaction, Geithner suggested China’s attempts at limiting gains were the reason for capital controls and currency-market interventions in other emerging economies. "What’s happening is, as China holds its currency down, their currencies are moving up and they’re having to work

title: Reserve currency

text: Reserve currency A reserve currency (or anchor currency) is a currency that is held in significant quantities by governments and institutions as part of their foreign exchange reserves. The reserve currency is commonly used in international transactions, international investments and all aspects of the global economy. It is often considered a hard currency or safe-haven currency. People who live in a country that issues a reserve currency can purchase imports and borrow across borders more cheaply than people in other nations because they do not need to exchange their currency to do so. By the end of the 20th century,

title: Fictional currency

text: form of electronic money. In science fiction set in the near future, modern currency names are often used. The selection of familiar currencies such as the dollar or yen, particularly in the far future, may be used to make suggestions about the way history unfolded; however, it would seem strange for aliens to use a recognizable currency. Fictional currency A fictional currency is some form of currency defined, or alluded to, in works of fiction. The names of units of such currency are sometimes based on extant or historic currencies (e.g. "Altairian dollars" or "Earth yen") while other names, such

title: Currency war

text: however by early October, Strauss-Kahn was warning that the risk of a currency war was real. He also suggested the IMF could help resolve the trade imbalances which could be the underlying casus belli for conflicts over currency valuations. Mr Strauss-Kahn said that using currencies as weapons "is not a solution [and] it can even lead to a very bad situation. There's no domestic solution to a global problem." Considerable attention had been focused on the US, due to its quantitative easing programmes, and on China. For much of 2009 and 2010, China was under pressure from the US to

title: Currency manipulator

text: a currency manipulator is by creating public opinion via for example news media. This comes from mostly political reasons or from lobbying activities for organizations with interest in manufacturing industries. The manufacturing industry is most heavily affected when one of the nation’s important trade countries manipulated their currency. Products from that country will be more competitive than from their own nation, which causes a shift of manufacturing to that foreign country. Therefore, lobbyists of the U.S. manufacturing sector are often “bashing” China as a currency manipulator. Evidence for this proposition can be found in an analysis of Ramirez (2013), who

title: Fictional currency

text: Fictional currency A fictional currency is some form of currency defined, or alluded to, in works of fiction. The names of units of such currency are sometimes based on extant or historic currencies (e.g. "Altairian dollars" or "Earth yen") while other names, such as "Kalganids" in Asimov's "Foundation" series, may be wholly invented. A particularly common type, especially in science fiction, is electronically managed "credits". In some works of fiction, exchange media other than money are used. These are not currency as such, but rather nonstandard media of exchange used to avoid the difficulties of ensuring "double coincidence of wants"

title: Currency

text: mostly paper, but Australia's Commonwealth Scientific and Industrial Research Organisation developed the world's first polymer currency in the 1980s that went into circulation on the nation's bicentenary in 1988. Now used in some 22 countries (over 40 if counting commemorative issues), polymer currency dramatically improves the life span of banknotes and prevents counterfeiting. Currency use is based on the concept of lex monetae; that a sovereign state decides which currency it shall use. Currently, the International Organization for Standardization has introduced a three-letter system of codes (ISO 4217) to define currency (as opposed to simple names or currency signs), in

title: Community currency

text: Community currency A community currency is a type of complementary currency that is used by groups with a common bond, like members of a locality, or association, and designed to meet their needs. A community currency may be geography-based, making it a type of local currency, or it may be used within a business-based, or online community. Community currencies aim at using money as a tool to achieve social or environmental objectives. According to the New Economics Foundation partner Community Currencies in Action: Some of the purposes for community currencies identified by Community Currencies in Action include: Several software packages

title: Currency sign (typography)

text: as a kind of "universal sign" to denote "currency" or "money". Somehow, the neutral currency sign (¤) was to be used as a printable symbol in itself, and this usage was sufficiently extended in the years of the first drafts of ISO 8859 to include it. Currency sign (typography) The currency sign (¤) is a character used to denote an unspecified currency. It is sometimes called "scarab". It is often used in place of a symbol that is not present in the font in use; for example, in place of the colón (₡). It can be described as a circle

title: History of Chinese currency

text: to the Chinese government that it could not retain the Silver Standard without debt defaults increasing, and so chose to abandon it. The situation was exacerbated by the multitude of commercial, provincial and foreign banks issuing currencies all at different values. In 1935, the Central Government enacted currency reforms to limit currency issuance to four major government controlled banks: the Bank of China, Central Bank of China, Bank of Communications and later the Farmers Bank of China. The circulation of silver dollar coins was prohibited, and private ownership of silver was banned. A new currency issued in its place was

title: Currency War of 2009–11

text: the extent of hostility, but the term has been widely used by the media since Brazil's finance ministers Guido Mantega September 2010 announcement that a "currency war" had broken out. Other commentators including world statesmen such as Manmohan Singh and Guido Mantega suggested a "currency war" was indeed underway and that the leading participants are China and the US, though since 2009 many other states have been taking measures to either devalue or at least check the appreciation of their currencies. The US does not acknowledge that it is practicing competitive devaluation and its official policy is to let the

title: Mutilated currency

text: Mutilated currency Mutilated currency is a term used by the United States Bureau of Engraving and Printing (BEP) to describe currency which is damaged to the point where it is difficult to determine the value of the currency, or where it is not clear that at least half of the note is present. Common causes of damage are fire, water, chemicals, explosives, animals or damage from extended burying of the currency. Replacement of mutilated currency is a free public service provided by the Bureau of Engraving and Printing. In general, mutilated U.S. paper currency can be submitted for evaluation. If

title: Currency analytics

text: to forecasted cash flows and don’t allow hedging economic risk. Currency analytics allow companies to mitigate cash flow risk by uncovering accounting exposures to match the economic exposures so the company can hedge the accounting exposure as a proxy. Currency analytics enable what/if scenario analysis so companies can model how volatility in particular currencies could impact their revenue and expenses in the future. Currency analytics Companies that do business in more than one currency are exposed to exchange rate risk – that is, changes in the value of one currency versus another. Exchange rate risk (also known as foreign exchange

title: International Convention for the Suppression of Counterfeiting Currency

text: International Convention for the Suppression of Counterfeiting Currency The International Convention for the Suppression of Counterfeiting Currency () is a 1929 League of Nations treaty whereby states agree to criminalise acts of currency counterfeiting. It remains the principal international agreement on currency counterfeiting. States that ratify the Convention agree to criminalise the creation, use, and exportation or importation of counterfeit currency. Under the agreement, no distinction is to be made as to what currency is the subject of the crime. Under the treaty, currency counterfeiting is an extraditable offence. States also agree to establish a central office that will forward

title: Absolute currency strength

text: Absolute currency strength The Absolute currency strength (ACS) is a technical indicator used in the technical analysis of forex markets. It is intended to chart the current and historical gain or loss of a currency based on the closing prices of a recent trading period. It is based on mathematical decorrelation of 28 cross currency pairs. It shows absolute strength momentum of selected major currency (EUR, GBP, AUD, NZD, USD, CAD, CHF, JPY). The ACS is typically used on a 15*period timeframe, calculated as a percentage gain or loss. This indicator is not measured on a scale like Relative currency

title: Currency strength index

text: the calculation of indexes of this kind, major currencies are usually used because they represent up to 90% of the whole forex market volume. Currency strength is calculated from the U.S. Dollar Index, which is used as a reference for other currency indexes. Percentage currency strength index on analytic platform. The basic idea behind indicators is "to buy strong currency and to sell weak currency". If is X/Y currency pair is up trend, you are able to determine whether this happens due to X's strength or Y's weakness. With indicators of this kind one is able to choose the most

title: Relative currency strength

text: You can use Relative currency strength for pattern trading as well, among basic patterns which can be used are: cross, trend break, trend follow,divergencies divergencies. Relative currency strength The Relative currency strength (RCS) is a technical indicator used in the technical analysis of forex market. It is intended to chart the current and historical strength or weakness of a currency based on the closing prices of a recent trading period. It is based on Relative Strength Index and mathematical decorrelation of 28 cross currency pairs. It shows relative strength momentum of selected major currency. (EUR, GBP, AUD, NZD, USD, CAD,

title: Functional currency

text: Functional currency Functional currency refers to the main currency used by a business or unit of a business. It is the monetary unit of account of the principal economic environment in which an economic entity operates. International Accounting Standards (IAS) and U.S. Generally Accepted Accounting Principles (GAAP) provide rules for translation of foreign currency transactions and financial statements. SFAS 52 introduced the concept of functional currency, defined as "the currency of the primary economic environment in which the entity operates; normally, that is, the currency of the environment in which an entity primarily generates and expends cash." Businesses may enter

title: Currency manipulator

text: Currency manipulator Currency manipulator is a popular term used to indicate countries that manipulate the rate of exchange for purposes of preventing effective balance of payments adjustment or gaining unfair competitive advantage in international trade or simply a country that intervenes in its foreign exchange market. Currency manipulation or currency intervention is a monetary policy operation which occurs when a government or central bank buys or sells foreign currency in exchange for their own domestic currency, generally with the intention of influencing the exchange rate and trade policy. Policymakers may have different reasons for currency manipulation, such as controlling inflation,

title: Mutilated currency

text: not considered mutilated and can be traded in at any bank from where they will eventually be processed out of circulation. Mutilated currency Mutilated currency is a term used by the United States Bureau of Engraving and Printing (BEP) to describe currency which is damaged to the point where it is difficult to determine the value of the currency, or where it is not clear that at least half of the note is present. Common causes of damage are fire, water, chemicals, explosives, animals or damage from extended burying of the currency. Replacement of mutilated currency is a free public

title: Foreign currency mortgage

text: Foreign currency mortgage A foreign currency mortgage is a mortgage which is repayable in a currency other than the currency of the country in which the borrower is a resident. Foreign currency mortgages can be used to finance both personal mortgages and corporate mortgages. The interest rate charged on a Foreign currency mortgage is based on the interest rates applicable to the currency in which the mortgage is denominated and not the interest rates applicable to the borrower's own domestic currency. Therefore, a Foreign currency mortgage should only be considered when the interest rate on the foreign currency is significantly

title: Currency converter

text: is useful when: Currency converters are often used as a means of checking the relative value of a currency before exchanging it into another currency. This is useful for the traveler because the traveler can check the value of a foreign county’s currency before exchanging money. These programs list the value of a foreign country’s currency relative to the traveler’s own currency. The currency conversion software calculates the rates as decimal point numbers with typically 4 decimals after the comma. Some may calculate the conversion rates with more decimals internally but only 4 are displayed. This is related to precision,

title: Crane Currency

text: 2013. In 2008, Crane acquired Visual Physics, a subsidiary of Nanoventions, based in Atlanta, Georgia. This purchase gave Crane exclusive control of Motion micro-optic security technology that is used for the protection of banknotes. Crane Currency Crane Currency is a manufacturer of cotton-based paper products used in the printing of national currencies, passports and banknotes. Crane remains the sole supplier of paper for use in U.S. currency (Federal Reserve Notes). Stephen Crane was the first in the Crane family to become a papermaker, buying his first mill, "The Liberty Paper Mill", in 1770. He sold currency-type paper to engraver Paul

title: Currency union

text: Currency union A currency union (also known as monetary union) involves two or more states sharing the same currency without them necessarily having any further integration (such as an economic and monetary union, which would have, in addition, a customs union and a single market). Three types of currency unions exist: The theory of the optimal currency area addresses the question of how to determine what geographical regions should share a currency in order to maximize economic efficiency. Note: Every customs and monetary union and economic and monetary union also has a currency union. Additionally the autonomous and dependent territories,

title: Currency war

text: The term "currency war" is sometimes used with meanings that are not related to competitive devaluation. In the 2007 book, "Currency Wars" by Chinese economist Song Hongbing, the term is sometimes used in a somewhat contrary sense, to refer to an alleged practice where unscrupulous bankers lend to emerging market countries and then speculate against the emerging state's currency by trying to force it down in value against the wishes of that states' government. In another book of the same name, John Cooley uses the term to refer to the efforts of a state's monetary authorities to protect its currency

title: Para (currency)

text: its brief existence between 1906 and 1918. In Albania, the "para" was used as a currency before the introduction of the Albanian lek in 1926. In Albanian, Kurdish Greek, Bulgarian, Macedonian, Romanian, Serbian and Turkish, "para" or its plural παράδες, "pari", "pare", "parale", "parai", "paraja" or "paralar" is a generic term for "money". Para (currency) The para (Cyrillic: пара, from Turkish "para", from Persian "pārah", "piece" ) was a former currency of the Ottoman Empire, Turkey, Montenegro, Albania and Yugoslavia and is the current subunit, although rarely used, of the Serbian dinar. As a former Ottoman and Turkish currency, it

title: Currency war

text: has suggested that rising stock markets imply that market players generally agree that central bank's actions are best understood as monetary easing and not as competitive devaluation. Other analysts have however continued to assert that ongoing tensions over currency valuation remain, with currency war and even trade war still a significant risk. Central bank officials ranging from New Zealand and Switzerland to China have made fresh statements about possible further interventions against their currencies. Analyses has been published by currency strategists at RBS, scoring countries on their potential to undertake intervention, measuring their relative intention to weaken their currency and

title: Currency Act

text: the debt from King William’s War. Other colonies quickly followed suit, and by 1715 ten of the thirteen had resorted to the issuance of paper currency. Economist Stanley Finkelstein highlights the advantage of paper currency, “that unless it is backed by specie it is cost free currency.” The paper currency depreciated quickly because the colonies printed more than what was taxed out of circulation. By 1740, Rhode Island bills of exchange were only four percent of face value and those of Massachusetts were eleven percent. The money supply was growing at a much faster rate than that of the overall

title: Currency

text: with few options other than to create a local currency. The following table are estimates of the 15 most frequently used currencies in world payments from 2012 to 2018 by SWIFT. Related concepts Accounting units Lists Currency A currency (from , "in circulation", from ), in the most specific use of the word, refers to money in any form when in actual use or circulation as a medium of exchange, especially circulating banknotes and coins. A more general definition is that a currency is a "system of money" (monetary units) in common use, especially in a nation. Under this definition,

title: Currency packaging

text: number of coins. Trays used to handle currency, often sorting by denomination. Currency packaging Currency packaging includes several forms of packing money for easy handling and counting. Many systems use standard color-coding or are marked to indicate the amount in the package. Currency straps, also known as currency bands or bill straps, are a type of fastener used to secure discrete numbers of bills. Typically, currency bands have attached ends so bills are "curled" and slipped into the band whereas currency straps contain adhesive on the ends to secure them around the bills after wrapping. Generated bundles are packed together

title: Absolute currency strength

text: due to X strength or Y weakness. On this signal one can choose the most worthy pair to trade. Absolute currency strength The Absolute currency strength (ACS) is a technical indicator used in the technical analysis of forex markets. It is intended to chart the current and historical gain or loss of a currency based on the closing prices of a recent trading period. It is based on mathematical decorrelation of 28 cross currency pairs. It shows absolute strength momentum of selected major currency (EUR, GBP, AUD, NZD, USD, CAD, CHF, JPY). The ACS is typically used on a 15*period

title: Relative currency strength

text: Relative currency strength The Relative currency strength (RCS) is a technical indicator used in the technical analysis of forex market. It is intended to chart the current and historical strength or weakness of a currency based on the closing prices of a recent trading period. It is based on Relative Strength Index and mathematical decorrelation of 28 cross currency pairs. It shows relative strength momentum of selected major currency. (EUR, GBP, AUD, NZD, USD, CAD, CHF, JPY) The RCS is typically used on a 14*period timeframe, measured on a scale from 0 to 100 like RSI, with high and low

title: Virtual currency

text: to its regulations defining currency as "the coin and paper money of the United States or of any other country that [i] is designated as legal tender and that [ii] circulates and [iii] is customarily used and accepted as a medium of exchange in the country of issuance", also called "real currency" by FinCEN, defined virtual currency as "a medium of exchange that operates like a currency in some environments, but does not have all the attributes of real currency". In particular, virtual currency does not have legal tender status in any jurisdiction. In 2014, the European Banking Authority defined

title: Currency War of 2009–11

text: their high inflation, China was on track for an annual appreciation of 10% since they relaxed their currency peg back in June 2010. However treasury officials also suggested that this rate of appreciation is still insufficient either for the interests of the US, the wider global economy or even China itself. By late February Bloomberg reported that talk of currency war had subsided, with several emerging economies choosing to allow currency appreciation as a way to combat inflation. February saw the US dollar fall to its lowest level since 1973, based on comparison against a weighted basket composed of the

title: Brazil–China relations

text: policy in relation to the so-called Currency war. Brazil has called for China to allow a faster appreciation of its currency, which would help other countries to better compete against Chinese exports. Brazil also criticised US policy, saying both China and the US should seek to avoid escalating economic tension concerning trade and currency. Trade between China and Brazil was worth almost $80 US Dollars as of 2014. China is expanding economic ties into Latin America, and Brazil falls into that category. China is investing a Brazilian electric transmission line from the Amazon, as well as importing Brazilian planes and

title: Private currency

text: Private currency A private currency is a currency issued by a private entity, be it an individual, a commercial business, a nonprofit or decentralized common enterprise. It is often contrasted with fiat currency issued by governments or central banks. In many countries, the issuance of private paper currencies the minting of metal coins intended to be used as currency may even be a criminal act such as in the United States (18 U.S. Code § 486). Digital cryptocurrency is sometimes treated differently; for example, this is legal in the United States but illegal in a few countries (mainly in West

title: Currency War of 2009–11

text: that with some countries deliberately devaluing their currencies other countries may retaliate thus causing a "trade war", and he urged Swann to alert "all of these other major countries to the very damaging implications of a currency war". During the IMF meeting there was disagreement based on conflicting views about how to sustain a recovery from the global recession. Countries led by the United States preferred flexible exchange rates, while others, led by China, resisted calls to appreciate their currency. The IMF meeting in Washington DC was inconclusive, as China rejected calls to allow rapid appreciation of its currency. Currency

title: Emissions Reduction Currency System

text: aid society within the community and we would like to make them a tool for deepening interpersonal relationships and trust." http://www.qoin.org/what-we-do/past-projects/kyoto4all/ Kyoto4All was a 2006 report written by Peter van Luttervelt, David Beatty and Edgar Kampers for the Dutch Ministry of Environment (then named VROM). The study described a series of monetary models to connect citizens-consumers to the climate change targets of the post-Kyoto period. The Maia Maia Emissions Reduction Currency System, is a scheme developed in Western Australia. The system currency is known as a "boya", named after the indigenous Nyungar people's word for rock trading tokens used by

title: Complementary currency

text: Complementary currency A complementary currency is a currency or medium of exchange which is not a national currency, but which is thought of as supplementing or complementing national currencies. Complementary currencies are usually not legal tender and their use is based on agreement between the parties exchanging the currency. According to Jérôme Blanc of Laboratoire d'Économie de la Firme et des Institutions, complementary currencies aim to protect, stimulate or orientate the economy. They may also be used to advance particular social, environmental, or political goals. When speaking about complementary currencies, a number of overlapping and often interchangeable terms are in

title: PLENTY (currency)

text: PLENTY (currency) The PLENTY (Piedmont Local Economy Tender) is a local currency used and accepted by some businesses in Pittsboro, North Carolina. The currency is managed by the PLENTY Currency Cooperative Corporation and is backed by Capital Bank Financial with United States dollars. , 10 PLENTYs may be purchased for US$10. PLENTYs can be traded for goods or services, or exchanged for United States dollars at businesses that accept them. PLENTY are offered in 50, 20, 10, 5 and 1 denomination bills and feature the phrase "In Each Other We Trust." The logo and currency were designed by artist Emma

title: History of Chinese currency

text: known as fabi (, pinyin: "fǎbì") or "legal tender". Customs gold units (, pinyin: "guānjīnyuán") were issued by the Central Bank of China to facilitate payment of duties on imported goods. Unlike the national currency which suffered from hyperinflation, the CGUs were pegged to the U.S. dollar at 1 CGU = US$0.40. Unfortunately, the peg was removed in 1935 and the bank allowed CGUs to be released for general use. Already awash with excessive paper currency, the CGUs only added to rampant hyperinflation. After the defeat of Japan in 1945, the Central Bank of China issued a separate currency in

title: Things Ain't What They Used to Be

text: Things Ain't What They Used to Be "Things Ain't What They Used to Be" is a 1942 jazz standard with music by Mercer Ellington and lyrics by Ted Persons. In 1941 there was a strike against the American Society of Composers, Authors and Publishers, of which Duke Ellington was a member. Because of the strike he could not air his songs on the radio. Instead, he used songs written by his son Mercer and pianist Billy Strayhorn. Strayhorn's compositions of this time include "Take the 'A' Train", "Chelsea Bridge" and "Day Dream". Mercer wrote "Things Ain't What They Used to

title: Tumin (currency)

text: Tumin (currency) Túmin is an alternative currency used in the municipality of Espinal, Veracruz, Mexico. Its name means "money" in the Totonac language. (Note that this word in Totonac is borrowed from the old Spanish coin the "tomín" [www.rae.es]). Espinal is a municipality of some 2600 inhabitants, 19% of whom are indigenous Totonac people. Used as a complementary currency, the Tumin was first put in circulation in 2010 as a student project at the Intercultural University of Veracruz, where students were trying to find ways of strengthening the local economy. In Espinal the access to cash is scarce as most