The currency of Colombia until 1837 was the real. No subdivisions of the real figured until after the real had ceased to be the primary unit of currency. However, eight reales equal one peso and sixteen reales equal one escudo.
The spanish colonial real was used in Colombia until 1820, some of those were minted in Popayán and Bogotá. Issues were made particularly for Colombia, under the various names that the state used after 1820. The main currency in 1837 became the peso and it was equal to eight reales. The real was kept in circulation until 1847, when a new real was introduced worth one tenth of a peso and subdivided into 10 decimos de real. The new real was renamed the decimo in 1853, although coins denominated in reales were again issued 1859-1862 and in 1880.

Colombian peso

The currency of Colombia is the peso – COP. The official peso symbol is $. As of August 2016, the exchange rate of the Colombian peso is 2857 Colombian pesos to one USD.
Colombia is using the peso as a currency since 1810. It substituted the real at a rate of one peso equal to eight reales. In 1847, Colombia decimalized and the peso was subdivided into ten reales, each of ten décimos de reales. The real was renamed the decimo in 1853, even though the last reales were struck in 1880. The running currency system of 100 centavos to the peso was initially used in 1819 on early banknotes but did not showed up again until the early 1860s on banknotes and wasn’t used on the coinage until 1872.
Colombia went on the gold standard in 1871, pegging the peso to the French franc at a rate of one peso equal five francs. This lasted only until 1886, from 1888, printing press inflation caused Colombia’s paper money to devalue and the exchange rate between coins and paper money was fixed at 100 peso moneda corriente equal one coinage peso. Between 1907 and 1914, coins were issued denominated in peso, equal to paper pesos. The Junta de Conversión began emitting paper money in 1910 and a new paper currency was introduced in 1915 – the peso oro. It was equal to the coinage peso and replaced the old peso notes at a rate of 100 old paper pesos equal to one peso oro. When the United Kingdom left the gold standard in 1931, Colombia shifted its peg to the USD, at a rate of 1.05 pesos equal to one dollar, a slight devaluation from its former peg.
Notwithstanding it never appeared on coins, Colombia’s paper money continued to be issued denominated in peso oro until 1993, when the word oro was dropped. The Colombian senate has debated whether to redenominate the currency by introducing a new peso worth 1000 old pesos, or to remove three zeroes from the value but such a plan has yet to be adopted.

The currency of Bolivia is the boliviano (BOB), divided into 100 cents or centavos in spanish. Boliviano was as well the name of the currency of Bolivia between 1864 and 1963.

First boliviano

The first boliviano was presented in 1864, equivalent to eight soles or half a scudo in the ex currency. Primarily, it was subdivided into 100 centécimos but this was changed to centavos in 1870. The amount of ten bolivianos was also called bolivar.
The boliviano was firstly pegged at a rate of one boliviano equal five french francs. On December 31, 1908, the currency was put on a new gold standard, with 12½ bolivianos equal one british pound.
Multiple exchange rates to the US dollar were established in 1940, yet the boliviano continued to drop in value. It was replaced by the peso boliviano (BOP) at a rate of one thousand to one in 1963.

Bolivian peso

The currency of Bolivia from 1 January 1963 until 31 December 1963 was the peso boliviano (BOP). It was exchanged by the boliviano at 1,000,000 pesos bolivianos equal one boliviano. The currency symbol of peso boliviano was “$b.”. Bolivia had introduced a comprehensive economic stabilization program that canceled most currency restrictions on the boliviano, which had suffered badly from inflation in December 1959. The program adopted a variable exchange rate that was finally stabilized in 1962 at 11 875 bolivianos to one US dollar.
Reform of the currency from January 1, 1963 adopted the peso boliviano, equal to 1000 bolivianos, with an initial central exchange rate of 11.875 per one US dollar. But inflation soon restored and the peso boliviano was devalued 39.4% on October 27, 1972. The new official rate was 20 per one USD, maintained until November 30, 1979, when the peso boliviano was put on a controlled float, firstly at 25 per dollar. The inflation levels speeded up and the official rate was devalued February 5, 1982 to 44 per one USD. The average exchange rate was 64.12 per dollar in 1982, 229.78 per dollar in 1983, and 2314 per dollar in 1984. During September 1985 the US dollar was worth a million pesos bolivianos on the black market. President Paz-Estenssoro proclaimed a free exchange rate for the peso, which was floated in August 1985, resulting in an operative devaluation of 95%. Every exchange control was lifted and the exchange rate was set twice weekly accordingly to current supply and demand. The value continued to drop and by January 1986 the government was setting a new exchange rate daily in an attempt to upkeep the assurance in the economy. After reaching a low of about 2.2 million per one USD, the peso stabilized and ameliorated around 1.8 to 1.9 million per dollar.
A new currency unit was the boliviano – it was created by Law No. 901 of November 28, 1986. Monetary reform was announced on December 30, 1986 becoming effective January 1, 1987. This new boliviano commuted the peso boliviano at one boliviano equal 1 000 000 pesos bolivianos.

Second boliviano

After many years of furious inflation, the bolivian peso was exchanged in 1987 by a new boliviano at a rate of one million to one. By that time one USD was worth 1.8 to 1.9 million pesos. The new currency exchange rate was one new boliviano approximately equivalent to one USD.
The Boliviano is still manufactured abroad, in countries such as United Kingdom, France, and Chile. Even politically independent since 1825, Bolivia is in this regard after two centuries beeing not independent in many aspects, such as the monetary one, like many other ex-colonies all over the Latin America and the rest of the world.

Although Bolivia was one of the primary mints of the colonial era the printing and coining of currency suspended due to absence of political interest and on the idea that foreign made coins and bank notes could be procured at a lower price than the bolivian made.

The official currency of Paraguay until 1856 was the real. To start with, the Spanish colonial real circulated, this was supervened, in 1813, by the Argentine real. Paraguay started issuing its own reales in 1845. Sixteen silver reales for one gold escudo. The Paraguayan peso was introduced in 1856, worth 8 reales. The real continued to circulate as the subdivision of the peso until 1870, when Paraguay decimalized.
Copper coin worth 1⁄12 real piece, was the only one issued for Paraguay in this currency , impregnated in 1845. These coins were devalued to 1⁄24 real in 1847.

Paraguayan peso

The currency of Paraguay between 1856 and 1944 was the peso. It exchanged the real at a rate of 8 reales equal 1 peso. Until 1870, the peso was subdivided into 8 reales. Paraguay then decimalized, with 100 centésimos equal 1 peso. The subdivision was renamed in centavo in 1874. Then the peso was changed in 1944 by the guaraní at a rate of one hundred to 1.

Paraguayan guaraní

The guaraní (PYG) is the national currency of Paraguay. The guaraní was divided into 100 céntimos but, because of inflation, céntimos are not applicable anymore. 
The law creating the guaraní was passed on 5 October 1943, and exchanged the peso at a rate of 1 guaraní = 100 pesos. In 1944 the first guaraníes were issued. Between 1960 and 1985, the guaraní was linked to the United States dollar at 126 PYG to 1 USD.
Currently, the guaraní is the least valued currency unit in the Americas, 1 USD worth close to 5400 guaranies.
In 2011, plans were released under which the Paraguayan guaraní would be revalued as the Nuevo guaraní (PYN) in the ratio of 1000 for 1, but due to possible confusion and problems with the projects, it is currently suspended.

The currency of Uruguay was initially that common to all of the Spanish America. In the struggle over this region, primarily between Spain and Portugal, later on between Argentina and Brazil, the coinage of both rivals circulated. The area was annexed to Brazil in 1821 as Provincia Cisplatina, the Portuguese (Brazilian) administration put notes of Banco do Brazil into circulation. This was the first paper money to circulate in Uruguay. After that, in 1826–1828, argentine troops fighting against Brazil were paid in one-peso notes issued by Banco Nacional of Buenos Aires for Provincia Oriental.
All sides to the conflict used the Spanish dollar (Spanish peso, Portuguese patacão), which circulated with a value of 8 Spanish reales or 960 Brazilian reis. Circulation consisted of coins from mints in Mexico, Potosí, Brazil, and Buenos Aires. In the turbulent period of conflict prior to independence, a significant amount of poor-quality copper coins from both Buenos Aires and Brazil came into circulation.

Peso 1828–1854

Uruguay’s currency was based on the silver peso of eight reales, mostly known as the patacón, and the gold onza de oro, priced at 16 pesos silver. But a massive quantity of devaluate copper coins also circulated. Lacking the resources to implement a national coinage, Gen. José Rondeau’s provisional government allowed foreign silver and gold coin to circulate freely (Law of 4 October 1828) at its intrinsic value, but it limited and after that forbidden the import of copper coin and the circulation of Buenos Aires bank notes (March 1829).
Gen. Fructuoso Rivera demonetized all copper coin in circulation, the coppers ceased to be legal tender for individuals and would be neither received nor paid out by public offices after January 1831. After that, it was withdrawn at one patacón in silver or gold for 13 reales in copper.
Тo achieve slight change, the government obtained Buenos Aires coins of one-tenth real, and put about 1.6 million of them into circulation at half face value. This is known the first money issued by República Oriental del Uruguay.
The government established a new monetary system in 20 June 1839, famous as Sistema real, with accounts kept in a patacón (peso) of 8 reales, each of 100 centésimos. The patacón was a silver coin, 27.06 g. The standard gold coin was the onza de oro of 27·06 g, equal to 16 silver pesos. Different gold and silver coins were rated in terms of the patacón and onza, according to their domestic value.
According to law 208, it is authorized to mint 20,000 pesos in copper coin, but only about 500 pesos in coins, dated 1840, were really produced. The government set the first of these coins into circulation on 15 October 1840 and, since 1990, Uruguay has celebrated 15 October as “Día de la Numismática Nacional”.
On 13 of December 1843, copper coins and a silver peso were authorized by laws 254 and 255, in Uruguay’s long civil war, famous as La Guerra Grande. The government established a mint – La Casa de Moneda de Montevideo, that fabricate three copper denominations and a silver peso fuerte or peso del Sitio or Montevideo dollar in english.

Real – 1854–1856

Legislation of 22 July 1854 authorized the minting of gold coins (Law 414) of 1, 2, and 4 escudos (10, 20, and 40 reales), silver coins (Law 415) of 1¼, 2½, and 5 reales (125, 250, and 500 centésimos), and copper coins (Law 418) of 10, 20, and 40 centésimos. The promiscuous inner situation, complicated by struggle in Brazil and Argentina, congeal, so that the silver and gold coins were never produced. The authorized copper coinage was produced in a modified type. The mint in Montevideo closed early in 1855, later on, Uruguay’s coins were minted abroad.

Peso fuerte and Patacón 1856–1863

In 1856 the Onza de oro was revalued from 16,000 centésimos to 15,360, and the patacón to 960 centésimos to reflect new monetary legislation. Laws 523 and 524 from 13 June 1857 modified laws 414 (gold) and 415 (silver) of 1854. The same standard of weight and fineness was retained, but the denomination was changed to peso fuerte, with proposed coins of 1/8, 1/4, 1/2, and 1 peso fuerte in silver, and 2, 4, 8, and 16 pesos fuertes in gold.
The first postage stamps of Uruguay, came in October 1856 for use on mail coach routes operated by Anastasio Lapido. The denominations were 60 and 80 centavos and 1 real. A second series go after in March 1858 in denominations of 120, 180, and 240 centavos. Regular government stamps appeared in July 1859 in denominations of 60, 80, 100, 120, 180, and 240 centésimos.

Peso and Doblón 1863–1875

The National Currency Decree of 23 June 1862 made the gold doblón and the silver peso the national currency. It defined the doblón de oro, which exchanged the onza de oro. The peso was revalued to 100 centésimos, with 1 new centésimo equal to 10 old centésimos de real, the new currency being known as Sistema centesimal as opposed to the old Sistema real.
The National Currency Decree declared that until a national coinage could be minted, external silver and gold coins should keep circulate at thereupon current values. A quantity of foreign coins with their multiples and fractions, were specified and rated.
In February 1864 new postage stamps of 6, 8, 10, and 12 centésimos replaced the old denominations of 60, 80, 100.
Uruguay was in a state of disturbance and civil struggle. There were multiple runs on the banks. In January 1864 Mauá Bank experienced a brief run – it floated a loan for the government of Gen. Flores in December, and when it suffered another run in 1865, the government suspended specie payments for the two note-issuing banks and demanded forced loans. Banco Comercial showed its stability through the panic that followed. After the crisis, a new banking law was proceed, which was the signal for a boom in bank creation.In June suspension of convertibility ended.
The Overend Gurney crisis on the London financial market in May 1866 hit Uruguay, where Mauá Bank experienced another run. The government owed it large amaunts and came to its support by suspending banknote convertibility into specie until 1 December 1866. Banco Comercial and Londres y Río de la Plata were solid and did not need this cover, so when another major crisis occurred in 1868 and the government again suspended convertibility, they kept paying out gold for their notes. An economic revival followed, only to end in 1875, due to further political chaos.
The banks of Uruguay weathered the worldwide depression that started in 1873, but the government was strike down in January 1875, and Mauá Bank declared bankruptcy in February. The next government suspended payment on its London debt, and on 8 May it decreed government currency notes the only acknowledged money for legal contracts. The use of gold was forbidden and business came to a slack. Retail prices grew up and banks failed. The two surviving banks of issue – Comercial and Londres y Río de la Plata, contracted with over fifty major business firms to pay all obligations in gold, regardless of the government decree.

1875–1896 Peso (Latin Monetary Union silver)

The bottom of the economy had been reached in 1875. Uruguay had aligned its silver peso on the Spanish duro and French écu of the Latin Monetary Union in 1873 , and had posted new coin ratings in October 1873, but economic and political events prevented enforcement of the new coinage until 1877. Later on, from 1877 to 1895, silver coins of 10, 20 and 50 centésimos and 1 peso were coined on the Latin Monetary Union standard.
Meantime, the paper currency was reformed in 1875. Preceding paper money was withdrawn from circulation and new, convertible government notes were issued. This new paper peso was known as peso moneda national or peso national currency.
The economy raised after 1876 and the 1880s were a phase of prosperity and amplification. Internal peace was achieved in 1884, and there was a heavy supply of foreign capital. The Reus Law of 1887 made it simply to establish new banks, the most significant of which was Banco Nacional. Until Uruguay’s neighbors – Argentina and Brazil, were indebted to use inconvertible paper currency, Uruguay kept on to use gold.
By 1889 the stream of foreign capital was drying up, and the prices paid for Uruguay’s exports were dropping. Gold has abandoned the country, and Banco Nacional run across difficulties. The effects of the Baring financial crisis in 1890 were hard for Uruguay and Argentina. Banco Nacional’s notes were denied by some of the banks, and it suspended specie payments on 5 July 1890. Panic proceeded and businesses failed – there was a run on all the banks. In 1875, the business community and the solid banks honored their obligations in gold and declined depreciated paper. The chaos calm down on 7 July, but the affairs of Banco Nacional were a hopeless mess, and the government could not meet the interest payments on its debts. The financial crisis of 1890–1893 ruined many of the commercial banks.
After Banco Nacional fell down, the Londres y Río de la Plata’s note issue accounted for over half of Uruguay’s solid paper money. It was inconceivable to have the paper currency of an independent nation in the hands of a foreign bank, and in 1896 the government established a new national bank – Banco de la República, with a monopoly of emission.

Peso en moneda legal (gold standard) 1896–1935

In 1896 Uruguay adopted the gold standard based on a peso oro. A patent of emission was granted to El Banco de la Republica Oriental del Uruguay and the country enjoyed a solid currency and monetary stability until WWI.
The gold standard was finished in August 1914, and foreign gold coin was accepted at fixed rates of 4.70 pesos for the sovereign, 9.66 for the US eagle, and 3.73 for the 20-franc piece. The peso was at a premium versus the US dollar from 1915 until 1920. At one point in 1918 it took only 78.30 pesos to buy USD $100. The peso then devalued sharply, and at its low in 1921 it took 170.50 pesos to buy USD $100. This was followed by constant progress and Uruguay was able to go on a gold exchange standard in 1925, sustaining the previous gold par of USD $1.0342 per peso until December 1929. Exchange controls were adopted 7 September 1931. The peso devaluated and a black market became very active. After January 1933 the currency was bounded to the French franc at 12.06 francs per peso.

Peso 1935–1975

Banco de la República was not only the government bank, acting as a central bank with a monopoly of emission, it was also the biggest commercial bank in Uruguay. A law from 14 August 1935 made its issue department -El Departmento de Emisión, independent, and provided for a revaluation of the Bank’s metallic reserves by confirming the official exchange rate at 12.06 French francs to the peso. The old theoretical peso oro of 1.697 g, .917 fine, was forsaken, and bank notes were denominated in national currency. The Bank’s gold stocks were revalued by a factor of 2.2. The actual market rate in New York reached USD $0.46-0.57 per peso during 1936.
By 1941 the peso’s official rate was 1.90 to the US dollar. A complicated system of multiple exchange rates was adopted in 1946 and adjusted frequently. The year-end rate in pesos per US dollar on the free market was: 1953 – 3.04; 1957 – 4.66; 1958 – 10.20; 1959 – 11.18. Parity was registered with the International Monetary Fund on 7 October 1960 at 7.40 per USD $1, but the effective market rate remained around 11 per until 1963, when it began a precipitous decline. Year-end free market rates per US$1 were: 1963 – 17.35; 1964 – 24.35; 1965 – 69.20; 1966 – 76.50; 1967 – 199.00. This amortization reflected the reducing world market for Uruguay’s chief exports: hides, meat, wool and meat products.
Banco de la República was substituted by a true central bank – Banco Central del Uruguay, which assumed responsibility for the note issue and began operations on 1 March 1967. Exchange held at 250–260 pesos per USD $1 in 1969–1971. A currency reform was scheduled, but postponed as the peso began another rapid decline. By April 1973 the US dollar fetched 1,300 pesos on the open market.

Nuevo peso 1973–1993

The nuevo peso (UYN) replaced the peso on 1 July 1972 at 1 new to 1,000 old. The initial exchange rate was UYN 1.50 per USD 1.00, but devaluation began within two months. The average annual exchange rate, nuevos pesos per USD $1 was: 1974 – 2.30; 1975 – 2.75; 1976 – 3.40; 1977 – 4.75; 1978 – 6.13; 1979 – 7.92; and 1980 – 9.16. A managed float began on 26 November 1982 and by 1988 the average rate was N$451 per USD $1.

Since 1993 Peso uruguayo

The peso uruguayo (UYU) was adopted on 1 March 1993 to replace the nuevo peso at 1 new for 1000 old. Withdrawal of old notes of N$500 and under started immediately. Notes of 100 000, 200 000, and 500 000 nuevos pesos remained legal tender for 100, 200, and 500 pesos uruguayos until 30 April 1996.
The first banknote denominated in pesos uruguayos moneda nacional, the $20 (dated 1994), did not appear in circulation until 22 February 1995. By the end of 1995, denominations of 10, 50, 100, 200, and 500 were in circulation. A $1000 was added in 1996, and a $2000 in 2003. A new series of notes began appearing in November 2006.

With those virtual coins, from some internet stores or auctions you can simply buy a phone or a DVD. On some other websites you can make a poker bets with bitcoins. Organizations like Free Software Foundation or Electronic Frontier Foundation are accepting donations in those digital coins. Different online platforms are willing to buy bitcoins and pay in paper money and the exchange rates vary.

The start of all this is settled in 2009, by man with nickname Satoshi Nakamoto, who published complicated and understandable only for specialists article, how to be organized the whole system. On this project was working a whole team of open source developers. Some of them demand from the begining some part of their salary to be in bitcoins.

In our days there are already hundreds of websites, discussing the opportunities of the new money. There are lots of blogs about bitcoins, giving advices to the “miners”. There are real exchanges, discus studios, statistic services about bitcoins and so on.

This might be the most dangerous project, we have ever seen, because in some point this currency can bring down governments, to destabilize economy and to create uncontrollable global markets for stolen goods. If something goes wrong, bitcoins will fall down like avalanche, and will take lots of other stuff with it.

One of the first big miners is known as Molecular. Today his computer is on the balcony, closed in wooden box, because the cooling system of his powerfull and fast graphic card was so noisy, that it sound like a hurricane in his room. So now, his computer stays at the balcony, making money from electricity.

Molecular have started like a real amateur – he sends in letter some us dollar banknotes in Canada and buying with them his first bitcoins. His bank account was growing fast, until he becomes one of the most valued players, supporting the system of the digital currency. Molecular have never exchanged even a single one of his digital money for dollars or euro – part of his principles.

His acts were very smart, because rise of the price is significant – if in the middle of 2010 1 Bitcoin was around 20 or 30 cents, in the end of May 2011, it is almost 8 dollars. The people who have choosen to keep their Bitcoins, have increased their assets 20 times.

For example Molecular has done some job in projecting of a porn website, it only took him one day. For his work, he got 250 bitcoins – almost nothing by this time, but today they are thousands of dollars.

Bitcoins are quite complicated. They are locked, unique code, who circulates between connected in network computers. This code carries specifically math structure and information about previous transactions – it is still anonymous but the history of the previous transactions are now part of the code.

Their structure, ensures that bitcoins cannot be faked or copied. “Miners” in the network are checking constantly if everything is alright with the performed transfers. If there is some mathematical uncertainty, the transaction is not going to happen. By the way, to implement the inspection itself, a lot of cpu time and calculations are required, which also cost digital money.

One simple personal computer cannot “mine” bitcoins. High-performance computers are needed, real “mining galleries” – they can be assembled, bought  or rented. But making money is getting harder and harder, because more computers included in the system, less bitcoins are distributed for the finished work. Still, much more profitable to buy with paper money one Bitcoin, than to produce it with a computer work, if yet to be assembled the required hardware.

To able to exist the digital currency, it is necessery computers to work all the time. They receive tax for their work, which will constantly grow. Solution of the problem is deflation – every digital coin will increase its value. Evolution of the bitcoins is quite progressive. In our intense economy anything can happen.

Most interested in bitcoin’s deletion are the electronic payment systems, based on “classic” currencies(dollar, euro, yen). For example, Paypal have already closed the account of their client, who bought bitcoins with the same account.

The first escudo(gold escudo) was a gold coin introduced in 1535/1537, with coins denominated in escudos issued until 1833. It was initially worth 16 reales. When different reales were introduced, the escudo became worth 16 reales de plata in 1642, then 16 reales de plata fuerte or 40 reales de vellón from 1737.

The second escudo(silver escudo) was the currency of Spain between 1864 and 1869. It was subdivided into 100 céntimos de escudo. The escudo replaced the real at a rate of 10 reales = 1 escudo. It was itself replaced by the peseta, at a rate of 2½ pesetas = 1 escudo, when Spain joined the Latin Monetary Union. The later silver escudo was worth one quarter of the earlier, gold escudo.The peseta replaced the escudo

Spanish Peseta

Peseta was the currency of Spain between 1869 and 2002

The peseta was introduced in 1869 after Spain joined the Latin Monetary Union in 1868. The Spanish Law of June 26, 1864 decreed that in preparation for joining the Latin Monetary Union, the peseta became a subdivision of the peso with 1 peso duro = 5 pesetas. The peseta replaced the escudo at a rate of 5pesetas = 1 peso duro = 2 escudos.

The political turbulence of the early twentieth century and during the years after the World War I, caused the monetary union to break up, although it was not until 1927 that it officially ended.

In 1959, Spain became part of the Bretton Woods System, pegging the peseta at a value of 60 pesetas = 1 U.S. dollar. In 1967, the peseta followed the devaluation of the British pound, maintaining the exchange rate of 168 pesetas = 1 pound and establishing a new rate of 70 pesetas = 1 U.S. dollar.

The peseta was replaced by the euro in 2002, following the establishment of the euro in 1999. The exchange rate was 1 euro = 166.386 pesetas.

The currency of Tawain from 1895 to 1946 was taiwanese yen. It on a par with and circulated alongside the Japanese yen

In 1895, as a result of the First Sino-Japanese War, Qing China ceded Taiwan to Japan in the Treaty of Shimonoseki. The Japanese yen then became the currency of Taiwan, with distinct banknotes denominated in yen issued by the Bank of Taiwan from 1898. Only banknotes and stamp currency were issued.

In 1945, after Japan was defeated in World War II, the Republic of China assumed the administration of Taiwan, took over the Bank of Taiwan within a year, and introduced the Old Taiwan dollar, which replaced the yen at par.

Old Taiwan dollar

Taiwan was under Japanese rule from 1895 to 1945 and the colonial government of Taiwan issued the Taiwan yen during this period through the Bank of Taiwan. In 1945, after the Japanese Empire was defeated in World War II, the Republic of Chinaassumed control of Taiwan. Within a year, the Nationalist government assumed control of the Bank of Taiwan and issued Taiwan dollars (also known as Taiwan Nationalist yuan or TWN) as a “provisional” replacement for the Taiwan yen at the rate of one to one. The new banknotes were initially printed in Shanghai, and were shipped to Taipei. After the Nationalists consolidated their control over Taiwan the banknotes were printed in Taipei. The currency was not subdivided, and no coins were issued.

Due to the Chinese Civil War in the late 1940s, Taiwan, suffered hyperinflation. As inflation worsened, the government issued banknotes at higher and higher denominations, up to one million yuan. Because the inflation of the Old Taiwan dollar was only a side effect of the inflation of Chinese yuan of mainland China, it depreciated at a slower rate than the currency used on the mainland.

The Old Taiwan dollar was replaced by the New Taiwan dollar on June 15, 1949, at the rate of 1 new dollar to 40,000 old dollars. The Nationalists were defeated by the Communists in the same year and retreated to Taiwan. After retreating to Taiwan, the Nationalist government was able to manage the currency’s inflation, and the severe inflation that had characterized Chinese currencies in the late 1940s ended.The Old Taiwan dollar was used from 1946 to 1949.

 New Taiwan dollar

The New Taiwan dollar was first issued by the Bank of Taiwan on June 15, 1949. The first goal of the New Taiwan dollar was to end the hyperinflation that had plagued Nationalist China. China’s gold reserve was moved to Taiwan in February.

Even though the New Taiwan dollar was the actual currency of Taiwan, for years the silver yuan remained the legal currency. The value of the silver yuan was decoupled from the value of silver during World War II. Many older statutes have fines and fees given in this currency.

According to statute, three New Taiwan dollars is worth one silver yuan. Despite decades of inflation, this ratio has not been adjusted. This made the silver yuan a purely notational currency long ago, nearly impossible to buy, sell, or use.

In July 2000, the New Taiwan dollar became Taiwan’s legal currency. It is no longer secondary to the silver yuan. At this time, the central bank began issuing New Taiwan dollar banknotes, and the notes issued earlier by the Bank of Taiwan were taken out of circulation.

The peso was originally the name of the eight-real coins issued in Mexico by Spain. These were the so-called Spanish dollars or pieces of eight in wide circulation in the Americas and Asia from the height of the Spanish Empire until the early 19th century.

After Mexico gained its independence in 1821, the new government continued the Spanish monetary system of 16 silver reales = 1 gold escudo, with the peso of 8 reales the largest silver coin. They have also issued paper money, denominated in pes.

In 1863, the first issue was made of coins denominated in centavos, worth one hundredth of the peso. This was followed in 1866 by coins denominated “one peso”. Coins denominated in reales continued to be issued until 1897. In 1905, the gold content of the peso was reduced by 49.3% but the silver content of the peso remained initially unchanged (subsidiary coins were debased). However, from 1918 onward, the weight and fineness of all the silver coins declined, until 1977, when the last silver 100-peso coins were minted.

Throughout most of the 20th century, the Mexican peso remained one of the more stable currencies in Latin America. Its becouse the economy did not experience periods of hyperinflation like the other countries in the region.
However, after the Oil Crisis of the late 1970s, Mexico defaulted on its external debt in 1982, and as a result the country suffered a severe case of capital flight, followed by several years of inflation and devaluation, until a government economic strategy called the “Stability and Economic Growth Pact” (Pacto de estabilidad y crecimiento económico, PECE) was adopted under President Carlos Salinas.

On January 1, 1993 the Bank of Mexicointroduced a new currency, the nuevo peso (MXN), written “N$” followed by the numerical amount. One new peso, or N$1.00, was equal to 1000 of the obsolete MXP pesos.

On January 1, 1996, the modifier nuevo was dropped from the name and new coins and banknotes – identical in every respect to the 1993 issue, with the exception of the now absent word “nuevo” – were put into circulation. In 1996, the word nuevo(s) was removed from the coins. New 10 pesos were introduced with base metal replacing the silver centre.

Stability of the Mexican economy helped and the growth in foreign investment, the Mexican peso is now among the 15 most traded currency units in recent years. Since the late 1990s the peso has traded at about 9 to 15 pesos per U.S. dollar.

In 2003 the Bank of Mexico began the gradual launch of a new series of bimetallic $100 coins. These number 32 – one for each of the nation’s 31 states, and one for theFederal District. While the obverse of these coins bears the traditional coat of arms of Mexico, their reverses show the individual coats of arms of the component states. The first states to be celebrated in this fashion were Zacatecas, Yucatán, Veracruz, and Tlaxcala. In circulation they are extraordinarily rare, but their novelty value offsets the unease most users feel at having such a large amount of money in a single coin. The Bank has tried to encourage users to collect full sets of these coins, issuing special display folders for the purpose, but the high cost involved has worked against them. Bullion versions of these coins are also available, with the outer ring made of gold, instead of aluminium bronze.

The Gulden or forint was the currency of the lands of the House of Habsburg between 1754 and 1892 (known as the Austrian Empire from 1804 to 1867 and the Austro-Hungarian Empire after 1867). With the introduction of the Conventionsthaler in 1754, the Gulden was defined as half a Conventionsthaler, equivalent to 1/20 of a Cologne mark of silver and subdivided into 60 Kreuzer. The Gulden became the standard unit of account in the Habsburg Empire and remained so until 1892.

It was replaced by theKrone as part of the introduction of the gold standard.

Austro-Hungarian krone

It was the official currency of the Austro-Hungarian Empirefrom 1892 until the dissolution of the empire in 1918.

After several earlier attempts the Austro-Hungarian Empire adopted the gold standard in 1892 according to the plan of Sándor Wekerle minister of finance. This plan included the introduction of the new currency, the Krone. The value of the Krone was set at 2 Kronen = 1 Gulden (Florin, or forint in Hungarian) of the previous silver-based currency. From 1900 onwards, Krone notes were the only legal banknotes of the Empire.

The value of the currency depreciated sharply as a result of the First World War, which was financed mostly by the issue of War Bonds rather than through taxation. Consumer prices rose sixteenfold during the war, as the government had no hesitation in running the Austro-Hungarian Bank’s printing presses to pay its bills and triggering a higher inflation rate than in the other combatant countries.

Hungarian korona

It was the replacement currency of theAustro-Hungarian Krone amongst the boundaries of the newly created post-World War I Hungary. It suffered aserious inflation and was replaced by the pengő in 1925. The last korona banknotes were withdrawn from circulation in 1927.

Hungarian pengő

The pengő was the currency of Hungary between 1 January 1927, when it replaced the korona. The pengő was subdivided into 100fillér. Although the introduction of the pengő was part of a post-World War I stabilisation program, the currency survived for only 20 years and experienced the most serious hyperinflation ever recorded.

After the First World War, according to the Treaty of Saint-Germain, the Austro-Hungarian Bank (the joint bank of the Monarchy) had to be liquidated and the Austro-Hungarian krone had to be replaced with a different currency, which in the case of Hungary was the Hungarian korona. This currency suffered a high rate of inflation during the early 1920s. A stabilisation program covered by League of Nations loan helped to bring down inflation, and the korona could be replaced in 1 January 1927 by a new currency, the pengő, which was introduced by Act XXXV of 1925 It was valued at 12,500 korona, and defined as 3,800 to one kilogram of fine gold – which meant that the pengő was pegged to the gold standard, however, without exchange obligation. In the beginning the cover ratio (which included gold and – to 50% – foreign exchange) was fixed at 20% which had to be raised to 33.3% within five years. This goal was reached quickly: the cover ratio was 51% in 31 July 1930. Later it decreased somewhat due to the economic and financial crisis caused by the Great Depression.

On  31 July 1946, it was replaced by the forint

Hungarian forint

The forint is the currency of Hungary.  The introduction of the forint on 1 August 1946 was a crucial step of the post-WWII stabilization of theHungarian economy, and the currency remained relatively stable until the 1980s. Transition to market economy in the early 1990s deteriorated the value of the forint, inflation peaked at 35% in 1991. Since 2001, inflation is single digit and the forint was declared fully convertible. As a member of the European Union, the long term aim of the Hungarian government is to replace the forint with the euro

The forint’s name comes from the city of Florence, where golden coins were minted from 1252 called fiorino d’oro. In Hungary, florentinus, also a gold-based currency, was used from 1325 under Charles Robert and several other countries followed its example.

Between 1868 and 1892 the forint was the name used in Hungarian for the currency of the Austro-Hungarian Empire, known in German as the gulden or florin.

The forint was reintroduced on 1 August 1946, after the pengő was rendered almost worthless by massive hyperinflation in 1945-46—the highest ever recorded. The process was managed by the Hungarian Communist Party, which held the relevant cabinet seats. The forint’s success was exploited for political gains, contributing to the Communists’ takeover of complete power in 1948-49. The forint replaced the pengő at the rate of 1 forint = 4×10²⁹ pengő—dropping 29 zeroes from the old currency. In fact, this was an imaginary exchange rate. With the highest value note being 100 million B. pengő (10²⁰ pengő), the total amount of pengő in circulation had a value of less than 0.1 fillér. Of more significance was the exchange rate to the adópengő of 1 forint = 200 million adópengő.

Historically the forint was subdivided into 100 fillér, although fillér coins have been rendered useless by inflation and have not been in circulation since 1999. The Hungarian abbreviation for forint is Ft, which is written after the number with a space between. The name fillér, the subdivision of all Hungarian currencies since 1925, comes from the German word Heller. The abbreviation for the fillér is f, written also after the number with a space in between.

After its 1946 introduction, the forint remained stable for several years, but started to lose its purchasing power as the state-socialist economic system lost its competitiveness during the 1970s and 1980s. After the democratic change of 1989-90, the forint saw yearly inflation figures of app. 35% for three years, but significant market economy reforms helped stabilize it. Since year 2000 the relatively high value of forint handicaps the strongly export-oriented Hungarian industry against foreign competitors with lower valued currencies.

As part of Hungary’s integration into the European Union and its euro currency, the forint may be replaced by the euro, depending on the economic situation.

The budju was the currency of Algeria until 1848. It was subdivided into 24 muzuna, each of 2 kharub or 29 asper. It was replaced by the franc when the country was occupied by France.

In the early 19th century, copper coins were issued in denominations of 2 and 5 aspers, billon 1 kharub, silver 3, 4, 6, 8 and 12 muzuna, 1 and 2 budju, and gold ¼, ½ and 1 sultani.

Algerian franc

The franc replaced the budju when France occupied the country. It was equivalent to the French franc and was revalued in 1960 at a rate of 100 old francs = 1 new franc to maintain the equivalence. The new franc was replaced at par by the dinar in 1964 following Algerian independence granted by France in 1962.

The franc was the currency of Algeria between 1848 and 1964. It was subdivided into 100 centimes.

Algerian dinar

The dinar was introduced on 1 April 1964, replacing the Algerian new franc at par. It is the currency of Algeria and it is subdivided into 100 santeem.

In 1964, coins in denominations of 1, 2, 5, 10, 20 and 50 santeem, and 1 dinar were introduced, with the 1, 2 and 5 santeem struck in aluminium, the 10, 20 and 50 santeem in aluminium bronze and the 1 dinar in cupro-nickel. The obversesshowed the emblem of Algeria, while the reverses carried the values in Eastern Arabic numerals. In later decades, coins were issued sporadically with various commemorative subjects