Lordministry of Economics & Currency

Official logo of the Lordministry of Economics & Currency

Official flag of the Lordministry of Economics & Currency

The Lordministry of Economics & Currency, often shortened to the Lordministry of the Economy or the LoEC, is a lordministry (synonymous with ministry but headed by a lordminister) of the Princian government established on 2 October 2019 that administrates four Princian national currencies and regulates the Princian public sector (presently the Dee Group, Filorux Group and Penroe-Louçade). The Lordministry of Economics & Currency was previously the Ministry of Economics & Currency from its foundation in 2019 until the transfer from being headed by a minister to that of a lordminister on 29 August 2022, the first Princian ministry to do so due to its level of importance to the Princian state. The LoEC splits its responsibilities between two operating arms – the Executive Commissariat for the National Economy and the General Currency Commission. The Lordminister of the Economy is ex officio the chairperson of the Economic Commissariat, while a separate minister is appointed as chairperson of the General Currency Commission.

General Currency Commission

The General Currency Commission (GCC) was originally a joint subsidiary of the Dee Group S.C. and Filorux Group S.C. established on 13 December 2019 to promote collaboration between the statutory corporations and increase their influence over the economy. During this time its official name was the Dee-Filorux General Currency Commission. The GCC was later acquired by the LoEC on 19 May 2024 to streamline its processes and take over the administration of Princia's currencies, with the goal of phasing out all but the Royal dramme. While it was a subsidiary of the statutory corporations the GCC also developed and launched an international currency to be used in trade and relations called the General Currency Unit (GCU), which the Royal dramme has been pegged to. The value of the GCU is determined by taking the average of the three exchange rates for gold (Au), silver (Ag) and platinum (Pt) - see live exchange rate chart here

Currencies

Royal dramme (Đ)

The Royal dramme or Princian dramme, known officially as the Drammic Monetary Medium of Exchange, is the main currency of Princia and was formerly the shared currency of the Alliance of Micronational Crowns, similar to the Euro for the EU. It is pegged to the General Currency Unit at 1 Royal dramme = 7 GCU. It is the most used currency in Princia. Administrative powers over the Royal dramme are significantly delegated to the Dee-Filorux General Currency Commission by the order of Prince Joshua.

Princian kankhik (Kᵃ)

The Princian kankhik was created by the United Democratic Party (now known as the United Democratic & Liberal Party) of the Princian Commonwealth in response to the creation of the Pempyrian lariém so that they could compete with their rival, the People's Party. It is the second most used currency in Princia after the Royal Dramme.

Parvusmountian manatte (Mᵃ)

The Pavusmountian manatte is the currency of the Parvusmount SDP. The manatte fell into the Lordministry of Economics & Currency's administration upon the Kingdom of North Parvusmount's incorporation into the Confederation of Greater Princia. It is the least used currency in Princia as a whole but the most used currency in Parvusmount.

Pempyrian lariém (Lᵃ)

The Princian lariém (more commonly known as the Pempyrian lariém although not official) was created by the People's Party of the Princian Commonwealth so that the Princian citizens had a reliable currency to fall back onto should the Royal dramme fail. The Pempyrian lariém is the only currency in Princia with cash expiry dates. It is the third most used currency in Princia, after the Royal dramme and Princian kankhik, and is the most used currency in the region of Pempire in the Home Province of Cathairo-Pempire due to the high popularity and influence of the People's Party within the region.

Vanderan stad ( or st.)

The Vanderan stad is a currency created by the People's Party & Princian Party of Socialists in August 2023 to replace the Pempyrian lariém. The stad is so named "Vanderan" as it is intended to be used in the unofficial sub-region known as the Vander Blacks (counties of Touraffshire and Wesprincia) in which the party holds near-absolute electoral dominance. The stad is divided into 100 laar.