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10y ago

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Continue Learning about History of Western Civilization

When was dick Turpin alive?

1518-1580


What was the Roman currency in 67 AD?

Roman currency was standard. During the times of Vespasian the standard currency was used, that is, denarius, sesterces, aureus etc. The only difference was the images on the coins which were of the Flavians, rather than, say, Nero or Augustus.


When was fiat currency introduced?

Fiat currency was introduced in China during the Tang Dynasty, around the 7th century AD, but it became more widely used during the Song Dynasty in the 11th century. The concept of fiat money gained traction in Europe during the 17th century, particularly with the establishment of banknotes by institutions like the Bank of Sweden in 1661. Unlike commodity money, fiat currency has no intrinsic value and is backed by the government that issues it.


What were the functions of west African currency board?

The West African Currency Board was established to manage the currency in the British West African colonies, ensuring stability and facilitating trade. Its primary functions included issuing banknotes, maintaining currency reserves, and regulating the money supply to support economic activity. Additionally, it aimed to promote monetary stability and confidence in the currency, which was crucial for both local economies and colonial interests. Overall, the board played a vital role in the financial infrastructure of West Africa during the colonial period.


What common European currency?

The Euro is the common European currency. It is currently used in the 13 block Euro-zone as their common currency. It is currently going down against the dollar.