Montesayettean pound
| Montesayettean pound | |
|---|---|
| ISO 4217 | |
| Code | MSP |
| Denominations | |
| Subunit | |
| 1⁄100 | centime |
| Plural | pound |
| Symbol | £ |
| Banknotes | |
| Freq. used | £5, £10, £20, £50 |
| Rarely used | £1, £100 |
| Coins | |
| Freq. used | 1p, 2p 5p, 10p, £1, £2 |
| Rarely used | 20p, 50p |
| Demographics | |
| Date of introduction | 13 May 1913 |
| User(s) | Montesayette |
| Issuance | |
| Central bank | Monetary Authority of Montesayette |
The Montesayettean pound (Quebecshirite: Livre montesayette; sign: £ or M£; ISO Code: MSP) is the official currency of Montesayette. It is divided into 100 centimes, commonly called "cenne" by the general population. The Montesayettean pound is widely accepted as the primary currency for financial transactions in the country. It serves as a medium of exchange for businesses, financial institutions, and individuals within Montesayette. The Monetary Authority of Montesayette issues the Montesayettean pound banknotes and coins. With fluctuations, it currently exchanges at a 6:1 rate with Quebecshirite Credit.
Contents
History
The Montesayettean pound was introduced in 1913, establishing a gold and silver currency system. During this time, exchange rates for foreign currencies were fixed by law, creating a de facto gold standard until 1933. However, due to the Creeperian Civil War, Montesayette abandoned the gold standard and adopted a pegged exchange rate system with the Quebecshirite Credit from 1933 to 1955.
In 1955, Montesayette transitioned to an intermediate rate regime based on a currency basket. This change involved a redenomination of the Montesayettean pound, with the new pound valued at 10 times the previous pound. The currency basket system calculated the Montesayettean pound value using a weighted average of multiple currencies.
In 1985, Montesayette introduced the Monitoring Band System (MBS) as a more market-oriented exchange regime. Under this system, the Montesayettean pound can float within a specific bandwidth around a central parity. It is closely monitored by the Monetary Authority of Montesayette against a concealed basket of currencies from major trading partners and competitors. This approach gives the Montesayettean government greater control over imported inflation and ensures Montesayette's export competitiveness. Alongside the MBS implementation, another redenomination occurred, with the new pound valued at 10 times the previous pound. The MBS allows the Montesayettean pound to fluctuate within defined bands, responding to market forces and economic circumstances.
