Quelpartian soeng

The **Quelpartian soeng** (Quelpartian: *Reng-Koer soeng* or *Reng-Soeng*; Al-tseua: 榮國鳳; sign: CURRENCYSYMBOL or Sg; ISO code: **QPG**) us the national currency of Quelpart since 1996. It is subdivided into 100 *aoⁿ* (舟) or 10 *bou* (毛).

## Etymology

The name *soeng* literally means "(male) Chinese phoenix", and is an alternative reading of the significantly more common *yoeng* (see Phoenix Bay, named *Yoeng Krung* in Quelpartian). It was chosen by the National Development Board to represent the rebirth of Quelpartian society following the Coup of '92 and the Quelpartian Redevelopment Period.

## History

### Introduction

Following the Coup of '92, the National Development Board wished to stabilize the national economy and restore national and international confidence in the currency. Due to high and rapid inflation and devaluation, the New Quelpartian siang had reached levels of USD 1 = QPN 500 immediately prior to the coup and USD 1 = QPN 750 for a short while after. The NDB also wished to cement its control of the country and to remove the symbols of the Council of National Development.

Following the 1992 Quelpartian presidential election, the NDB announced the 10-Year Economic Reform Plan (Chap Ren Keang-Si'r Geoi Hak'er Ba-Seung or Chap Ren Seung) which included, among other things, a provision to replace the currency with a new one. After seeing the initial success of the Chap Ren Seung, the NDB conducted a study to see the costs of replacing the currency. The study deemed that it would not incur significant costs if done gradually.

The NDB announced the new currency, named the soeng (see #Etymology above), on October 8, 1994. It would roll out new coins and banknotes immediately, while the siang would stop production immediately, though the siang would still be legal tender until October 8, 1996. Businesses were asked to exchange their currency as soon as possible, while financial systems were asked to implement the soeng before 1996.

### Cashless Debate

The Mint of Trung Chang and some manufacturing chai tsengs argued with more financially-oriented chai tsengs over the coins and banknotes. The banks wanted the soeng to be completely cashless in order to save on costs and to maintain strong financial oversight. They claimed that the black market as well as counterfeiting would immediately disappear, as all transactions could be recorded. Meanwhile, the Mint and manufacturing companies argued that their businesses would immediately go bankrupt with the loss of notes and coins, as well as saying that the coins and notes were a source of national pride, and that foreign investors preferred them to debit and credit cards, as the process to acquire a RNIS card was troublesome.

The debate persisted through the Tranh Oan-Giang, THAT GUY, and THE OTHER GUY administrations.

### 2017 Series

On August 8, 1996, newly-inaugurated President Charles Tock and Director-General Jane Crocker announced that after more than 20 years, a new series of banknotes and coins. They stated that gaming companies would be negatively affected by a pure cashless system, as "people would rather put coins in slot machines and not their credit cards". This was considered to be a reward to the Lucknow Group for supporting Tock's election.

## Exchange rate

Upon its introduction on October 8, 1994, USD 1.00 = QPG 1.00. It would weaken slightly to 1.10 by 2000 only to strengthen again to 0.95 following the September 11 attacks.

As of February 1, 2023, 1 USD = 15.44 QPG.