[66898] in Cypherpunks
Re: the theory of split currency
daemon@ATHENA.MIT.EDU (Dr.Dimitri Vulis KOTM)
Mon Sep 30 17:10:59 1996
To: cypherpunks@toad.com
From: dlv@bwalk.dm.com (Dr.Dimitri Vulis KOTM)
Date: Mon, 30 Sep 96 13:35:21 EDT
In-Reply-To: <199609301523.LAA15152@jekyll.piermont.com>
"Perry E. Metzger" <perry@piermont.com> writes:
>
> > Is there a name for a dual or split currency, in which
> > there is one currency for domestic use and another, different
> > appearing, currency for foreign usage?
>
> I don't know of such a name, however...
>
> > Does anyone know of any country which has had such a
> > split currency?
>
> ...this has been a common situation, in fact. South Africa, China, the
> Soviet Union, and other unpleasant places have repeatedly done
> this. Its usually a remarkably stupid idea.
>
> Perry
Several Western European countries had such split currencies after WW II.
Belgium's two francs have almost been phased out. Spain is the only major
country with two currencies (ESP and ESB). They actually fetch slightly
different interest rates.
Chile introduced 'unidad de fomento' a while back, and many other minor
players do something similar.
---
<a href="mailto:dlv@bwalk.dm.com">Dr.Dimitri Vulis KOTM</a>
Brighton Beach Boardwalk BBS, Forest Hills, N.Y.: +1-718-261-2013, 14.4Kbps
