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Subject:
More than one currency used in a country
Category: Business and Money Asked by: bigben1-ga List Price: $9.50 |
Posted:
17 Oct 2004 09:24 PDT
Expires: 16 Nov 2004 08:24 PST Question ID: 416042 |
What countries have more than one currency as legal tender? What are the currencies accepted in those countries? I am intersted in countries that have legally instituted the use of two or more currencies as equally acceptable for transactions in the country. One example would be(and I do not know that this is correct) if shops in Panama were to accept equally the US Dollar and the Colón. |
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Subject:
Re: More than one currency used in a country
Answered By: bobbie7-ga on 17 Oct 2004 09:43 PDT Rated: |
According to the CIA World Factbook 2004 the following countries use more than one currency. Bhutan: ngultrum (BTN) Indian rupee (INR) Cyprus: Greek Cypriot area: Cypriot pound (CYP) Turkish Cypriot area: Turkish lira (TRL) Guatemala: quetzal (GTQ) US dollar (USD) Guernsey: British pound (GBP); note - there is also a Guernsey pound Jersey: British pound (GBP); note - there is also a Jersey pound Lesotho: loti (LSL) South African rand (ZAR) Isle of Man: British pound (GBP); note - there is also a Manx pound Namibia: Namibian dollar (NAD); South African rand (ZAR) Panama: balboa (PAB) US dollar (USD) Serbia and Montenegro: In Serbia the Serbian dinar (CSD) is legal tender, but the euro (EUR) is the de facto currency; in Montenegro and Kosovo the euro is legal tender. (2004) Tuvalu: Australian dollar (AUD); note - there is also a Tuvaluan dollar West Bank: New Israeli shekel (ILS) Jordanian dinar (JOD) Source: CIA World Factbook 2004 http://www.cia.gov/cia/publications/factbook/fields/2065.html I hope this helps! Search terms used: CIA World Factbook: currency Best Regards, Bobbie7 | |
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Subject:
Re: More than one currency used in a country
From: probonopublico-ga on 17 Oct 2004 09:52 PDT |
In the UK, some places also accept the Euro and why not? |
Subject:
Re: More than one currency used in a country
From: probonopublico-ga on 17 Oct 2004 11:32 PDT |
I suspect (but don't know) that, in the cases of Jersey, Guernsey & the Isle of Man, the underlying currency is the British Pound and that the local currency is just a cosmetic variation, like the Scottish bank notes. I wonder if someone is now going to shoot me down? |
Subject:
Re: More than one currency used in a country
From: neilzero-ga on 17 Oct 2004 18:43 PDT |
With a few exceptions, boarder towns come in pairs. One on each side of the border. Both townfolks and tourists visit and shop in both directions. In these towns the other currency gets favorable treatment from the merchants even if their governments forbid such exchange. Strict enforcement is rare. 10 km = 6 miles from the border, half the merchants etc may refuse the other currency or exact an unfair exchange rate. Even if the exchange rate is fixed officially, it floats in many transactions. Again enforcement in the border towns is rare. Either currency is acceptable, but there is typically a prefence, so "equally acceptable" is rare almost to the vanishing point, and may last hours rather than days. Neil |
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