User:ManuTheSecond/Drachma

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Drachma
Δραχμή
noframe
Drachma symbol
In circulation since December 2012
ISO 4217[1]
Code MZD
Denominations
Subunit
1/100 leptοn (Λ.)
Symbol Δρχ., Δρ. or ₯
Banknotes Vouchers of 10, 20, 100, 200, 500, 1000 provisionally
Coins 0.10, 0.20, 1, 2
Demographics
User(s) Mouzilo
All Themes, Hagiopolis
Issuance
Central bank Imperial Bank of Mouzilo
Mint Bank of Greece
Printer Imperial Bank of Mouzilo
Valuation
Inflation 0% (Dec 2020)
= 66.6 Δρχ.

Mouzeliot Drachma, commonly referred to simply as Drachma (Greek: δραχμή [ðraxˈmi] pl. drachmae or drachmas) is one of the currencies used in Mouzilo. It is the second-widest currency in circulation, after Euro, and it is the only currency provided by the Imperial Bank of Mouzilo. It serves as the national currency of Mouzilo.

History

Mouzilo faced the question of a national currency on the early days of its existence, in mid-2012. Early concept design of banknotes emerged and several exhange rates had been proposed. However, due to political instability the initial plans delayed and the subsequent adaptation of World Union's InterSol in October 2012, postponed any further planning. Mouzilo's adaptation of InterSol only lasted for half a year until April 2013, when the currency was given up for several reasons, including the complex calculation of its value based on the price of several precious metals, and the gradual fall of the World Union and ultimately its succession by the Association of Prolific Micronations. During Mouzilo's membership of APM, the country formed a political alliance with Mahuset, further delaying the creation of a national currency. After the disestablishment of that alliance, Mouzilo joined Hasanistan, and later the District of Cleveland, to form Kekropia. Kekropia soon began planning for its own state-wide currency and as a result all national currencies would be abolished. As Mouzilo still had no national currency, the measure found no obstacles. With the collapse of Kekropia, Mouzilo restarted planning for a national currency, finally giving birth to the Drachma, which was modelled after the former currency of both Ancient Athens and Modern Greece. The exchange rate was fixed to that of the Greek Drachma before Greece's adaptation of the Euro, namely 1 Euro for 340.75 GRD/MZD.

MZD Exchange rate
MZD EUR ADN
1 0.015 0.576
66.66 1 38.46
1.731 0.026 1

Mouzilo joined Ashukovo in late 2013 and consequently adopted the Ashukov Denar as the new national currency. As a result, the Drachma stopped being in circulation and was replaced by the Denar. At the time of the replacement, the exchange rate was 1Ѥ=574.82₯=1.69€. Mouzilo continued using the Denar even after Ashukovo's disestablishment as a transitional currency. For a period longer than that of a year, all of Mouzilo's financial activities were done in the Denar, therefore the state needed time in order to readjust to the new financial reality, while simultaneously having to face the ongoing financial crisis in surrounding Greece.

Finally the Drachma was reintroduced in the last week of December 2016, however at a new exchange rate (1₯=0.015€) and accompanied by several provisional measures, such as the usage of two different series of old Greek Drachma coins. This measure has caused slight inconvenience to the public, as 2 different coins of 1₯, for example, are in circulation, with the color of the metal they're made of ultimately defining their worth (copper 1 GRD coins are worth 1 MZD, whereas golden 1 GRD coins are worth 10 MZD).

References

  1. Unofficial