Currency Signature

From ABC News:

“Trump's signature will be added to US currency, Treasury says”

President Donald Trump’s signature will be added to future U.S. paper currency, the Treasury Department announced Thursday. Trump will become the first sitting president whose name will appear on currency. It follows efforts to create two coins with his image on them, a $1 coin and a special 24-karat commemorative gold coin. President Calvin Coolidge was the only sitting president to have a coin with his image on it.

Federal law says no living president can appear on U.S. currency, though the administration has argued the restriction does not apply to coins. "Under President Trump’s leadership, we are on a path toward unprecedented economic growth, lasting dollar dominance, and fiscal strength and stability,” Secretary of the Treasury Scott Bessent said in a statement on Thursday. “There is no more powerful way to recognize the historic achievements of our great country and President Donald J. Trump than U.S dollar bills bearing his name, and it is only appropriate that this historic currency be issued at the Semiquincentennial,” he added.

The Treasury said the decision was in honor of the 250th anniversary of the United States. Last week, the federal Commission of Fine Arts officially voted to approve a new 24-karat commemorative gold coin featuring President Donald Trump, amid backlash from Democrats and other stakeholders.   The image included in the proposal is based on a photo taken of Trump in the White House.

https://abcnews.com/Politics/trumps-signature-added-us-currency-treasury/story?id=131451419

Terry Fox Dollar

 

The $5 Canadian Dollar Bill is changing.

Starting in 2027 the new Bill will feature Terry Fox.

Terrance Stanley Fox (July 28, 1958 – June 28, 1981) was a Canadian Athlete, Humanitarian, and Cancer Research Activist.

In 1980, with one leg having been amputated due to Cancer, he embarked on an east-to-west cross-Canada run to raise money and awareness for Cancer Research.

Although the spread of his Cancer eventually forced him to end his quest after 143 days and 5,373 kilometers (3,339 miles) – running through Newfoundland & Labrador, Nova Scotia, Prince Edward Island, Quebec and Ontario, and ultimately cost him his life, his efforts resulted in a lasting, Worldwide legacy.

The annual Terry Fox Run, first held in 1981, has grown to involve millions of Participants in over 60 Countries and is now the World's largest one-day Fundraiser for Cancer Research; over $1 Billion Canadian Dollars has been raised in his name as of February 2026.

4: By The Numbers

Russia’s War In Ukraine By The Numbers:

4 = The Number of years since the main Russian Invasion and Occupation of Ukraine started

12 = The Number of years since Russia Invaded and Occupied Crimea in Ukraine

5.9 Million = The Number of Ukrainians who have fled Ukraine

3.7 Million = The Number of Ukrainians who have been forced to flee their homes for other parts of Ukraine

26% = The Percentage of Ukrainian Territory that Russia occupied at the height of the War in 2022

19.4% = The Percentage of Ukrainian Territory that Russia currently occupies

58,495 = The number of Drones, Missiles and Bombs that Russia has dropped on Ukraine

24,000 = The Number of Russian Military Equipment and Vehicles that Ukraine has destroyed

5 Million  = The Number of Ukrainians currently living under Russian Occupation in Ukraine

1.2 Million = The Number of Russian Soldiers killed or wounded in Ukraine

356,680 = The Number of Russian Soldiers killed in Ukraine

621 = The Number of Russian Civilians killed inside Russia

6,000 = The Number of North Korean Soldiers killed in Ukraine

$245 Billion US Dollars  = The Amount of Money China has given to Russia for its War in Ukraine

26 = The Number of Years that Russian President Vladimir Putin has been Dictator of Russia

71% = The Percentage of Inflation in Russia in 2026

1,000 = The Number of Western Companies that have left Russia

143 Million = The Current number of Russians living inside Russia

148 Million = The Number of Russians that lived inside Russia in 2021

180,000  = The Number of Russian Criminals (including Rapists and Murderers) released from prison in order to fight in Ukraine

1,000 = The Documented number of Murders committed by Russian Soldiers who fought in Ukraine on Russian Civilians after returning to Russia

1 Million = The Number of Russian Civilians who fled Russia and have stayed away since the War

20,000 = The Documented number of Russian Civilians arrested by Putin for protesting the War

10  = The Number of years a Russian Citizen can be imprisoned in a Russian Forced Labor Penal Colony for calling what Russia is doing in Ukraine as a “War”

140,000 = The Number of Ukrainian Soldiers killed by the Russians

15,168 = The Number of Ukrainian Civilians killed by the Russians

41,534 = The Number of Ukrainian Civilians wounded by the Russians

$1 Billion US Dollars = The Amount of money that it costs Russia every single day of its War in Ukraine

$300 Billion US Dollars = The Amount of money that the Russian Central Bank has outside of Russia (in Western Institutions) that it has not been able to use since the War started

$33 Billion US Dollars = The Amount of money that Sanctioned Russian Individuals have outside of Russia (in Western Institutions) that they have not been able to use since the War started

$300 Billion US Dollars = The Amount of money that Ukraine has received in Military and Humanitarian Aid

2,881  = The Number of Ukrainian Hospitals and Medical Clinics destroyed or damaged by the Russians

19,000 = The Number of Ukrainian Children that the Russians have abducted from Ukraine and brought to Re-education Camps inside Russia

Bulgaria Joins Euro

 

(Store in Bulgaria with prices in both the Lev and the Euro.)

Bulgaria marked New Year by adopting the Euro.

Bulgaria became the 21st country to switch to the Euro on Thursday.

However, concerns persist that the move could usher in higher prices and add to political instability rattling the Balkan country.

When midnight struck, Bulgaria gave up the Lev (which means Lion) Currency, which has been in use since 1881.

Joining the Currency club marks a major milestone for the Eastern European Country, which entered the European Union in 2007.

For mostly Urban, Young and Entrepreneurial Bulgarians, it's an optimistic and potentially lucrative leap - the final move in a game which has brought Bulgaria into the European mainstream - from NATO and EU membership, to joining the Schengen Zone, and now the Euro.

For the Older, Rural, more Conservative parts of the Population, the replacement of the Bulgarian Lev by the Euro provokes fear and resentment.

Bulgaria's accession leaves only six of the 27 EU nations outside the Currency Union: Sweden, Poland, the Czech Republic, Hungary, Romania and Denmark.

RIP: Penny

 

The United States minted its last Penny yesterday (November 12, 2025.)

The Penny was first minted in 1793 and has been used for 232 years.

The Penny will remain in circulation, but  every Business that accepts cash will have to either round up or round down when the Pennies become hard to get.

There are an estimated $300 Billion Pennies in circulation.

Canada got rid of its Penny in 2012.

Australia got rid of its Penny in 1991.

New Zealand got rid of its 1 Penny and 2 Cent Coins in 1990 and its 5 Cents in 2006.

European Currencies

 

Linguistic Currency

 

In some places you have to be Currency Smart as well as Linguistically Smart.

When I was in Northern Ireland in June 2010 I had Euros (since we started and were ending in the Republic of Ireland), English Pounds (since we were going to London, England) and Northern Irish Pounds from the 3 different Banks there.

There are Northern Irish Pounds issued by the Bank of Ireland, Danske Bank and Ulster Bank (which are only accepted in Northern Ireland and a few Irish Border Towns or at any Bank in the UK for the local Pound at par.)

You can’t just use English Pounds anywhere since that shows you are a Loyalist/Protestant and you can’t use Euros since that shows you are a Republican/Catholic.

The same with the 3 different types of Irish Pounds by the 3 different Northern Irish Banks. Of course speaking with an American accent got me out of any kind of trouble for using the “wrong” Pound in the “wrong” Place (ie. a Protestant-Friendly Bank Pound in a Catholic Area or a Catholic-Friendly Bank Pound in a Protestant Area.)

I was once called a “Taig” which is a derogatory term for a Northern Irish Catholic.

I was also once called a “Prod” which is a derogatory term for a Northern Irish Protestant.

I know some Brits that use an American Accent when they travel to certain parts of the UK and NI so they can’t be “found out.”

I simply said I was an American and then everything was fine. I also tried to use my Credit Card as often as I could.

I will say that the people I met in Northern Ireland were friendlier and more helpful than the ones I met in the Republic of Ireland or in London – maybe because they knew we were Tourists and they got so few of them.

It was the same when I was in Bosnia, Croatia and Montenegro in December 2010.

Even today there are Ethnic and Linguistic Rivalries between the: Slovenes, North Macedonians, Croatians, Serbs, Montenegrins, Bosnians, Kosovars, etc. stemming from Centuries-Old Issues, World War 2 and of course the different Wars in the Former Yugoslavia in the 1990s.

All the different Languages (once Called-Serbo-Croatian) are largely mutually intelligible with one another so a person who knows Croatian (written in the Latin Alphabet) can understand a Serb (written in the Cyrillic Alphabet.)

When speaking there is no Alphabets and it is easier to know the Ethnicity of the person – for those that look for that kind of thing.

We had several individual private tours when in Croatia, Bosnia and Montenegro and our guides would only speak in English even when speaking with the Locals so that the Bosniak Local couldn’t tell the Guide was Croatian or the Bosnian Serb Local couldn’t tell our Guide was Montenegrin, etc.

 

I also learned the Local Words for Thank You in Croatian (Hvala), in Bosnian Latin (Hvala), in Bosnian Cyrillic (Хвала) and in Montenegrin (Hvala.)

As for Currencies:

At the time Croatia used the Kuna (it now uses the Euro), Montenegro used the Euro and Bosnia used the Convertible Mark, but everyplace accepted the Euro.

I had no issues using my Kunas in Croatia and no issues using Euros in Montenegro or on Bosnia (almost no place accepted Credit Cards.)

I did have Bosnian Convertible Marks, but never used any while in Bosnia because the Serbian Part of Bosnia (called the Republika Srpska) had Convertible Marks with Cyrillic first and the Bosniak Part of Bosnia (called the Federation of Bosnia and Herzegovina) had Convertible Marks with Latin first.

I didn’t want to have any trouble so just used Euros everywhere in Bosnia.

To be fair I met some of the nicest and most helpful people in Croatia, Bosnia and Montenegro. Maybe it was because they knew we were Foreigners.

When I went to Israel and the West Bank in October 2017 I had Swiss Francs (because we also went to Switzerland), Israeli New Shekels, Euros and American Dollars.

In Israel we could use the Israeli New Shekels anywhere, but not in the West Bank (even though it is technically allowed and the Israeli New Shekel is written in Hebrew, Arabic and English.)

I used either American Dollars or Euros in the West Bank and had no issues. Israeli Citizens are forbidden to go to the West Bank under both Israeli Law and Palestinian Law so the Palestinians there knew we weren’t Israelis.

In a lot of places in Israel you could also use American Dollars or Euros if you didn’t have any New Shekels.

I also learned to say Thank You in Hebrew: Toda - (תודה) and in Arabic: Shukran - شكر)

Those are just some of the places I have been to and had issues with Currencies or Languages.

Viola Desmond

 

I got this $10 Canadian Bill for my Birthday this year.

On it is Viola Desmond.

Viola Desmond was born on July 6, 1914 in Halifax, New Brunswick, Canada. One of 10 Children.

Because she was Black Desmond was not allowed to train to become a Beautician in Halifax, so she left and received Beautician Training in Montreal (Canada) Atlantic City (USA), and one of Madam C. J. Walker's Beauty Schools in New York (USA.)

Upon finishing her training, Desmond returned to Halifax to start her own Hair Salon called Vi's Studio of Beauty Culture. Her Clients included Gwen Jenkins, later the first Black Nurse in Nova Scotia.

In addition to the Salon, Desmond opened The Desmond School of Beauty Culture so that Canadian Black Women would not have to travel as far as she had to to receive proper training.

Each year 15 Black Women graduated from her School and opened Salons of their own across Canada.

On November 8, 1946 Desmond challenged the Racial Segregation Policy of a Movie Theater in New Glasgow, New Brunswick, Canada by refusing to leave the Whites-Only area.

At the time, every Canadian Province and Territory allowed for the Segregation of Blacks and Whites as long as there were no public signs (like in the Jim Crow American South,)

Desmond was arrested and convicted of a Minor-Tax Violation for the 1 Cent Tax Difference between the seat that she had paid (in the Blacks-Only Section) for the seat she used (in the Whites-Only Section) and forced to pay a $26 Dollar Fine ($446 Dollars today.)

Desmond decided to fight her arrest, the fine and the Segregation.

Her story was printed by Carrie Best in the first Edition of The Clarion, the first Black-owned and published Nova Scotia Newspaper.

She lost the case, but the Provincial Segregation Policies became widely known throughout Canada.

She left Nova Scotia and went first to Montral, Quebec, Canada and eventually to New York City, New York, USA.

She died on February 7, 1965 at 50 years old.

In 2010, Desmond was granted a Posthumous Free Pardon  - the first in Canada.

A Free Pardon deems the Person granted the Pardon to have never committed the offence and cancels any consequence resulting from the Conviction, such as Fines, Prohibitions or Forfeitures.

It was not until 2021 that the Government of Nova Scotia repaid the $26 Fine ($446 in 2024) to her Estate.

The Crown-in-Right-of-Nova Scotia also apologized for prosecuting her for Tax Evasion and acknowledged she was rightfully resisting Racial Discrimination.

In 2018, Desmond became the First Canadian-Born Woman to appear alone on a Canadian Bank Note.

ZiG

 ZiG

Zimbabwe has introduced a new Currency called the ZiG or Zimbabwe Gold (backed by Gold.)

The ZiG replaces the Zimbabwean Bond Notes.

Zimbabweans have 21 days to exchange all their Zimbabwean Bond Notes into ZiGs.

 

Currency History:

Zimbabwe was known as Rhodesia (a British Colony) from 1888-1923 and used the British Pound.

From 1923-1964 it was known as Southern Rhodesia (still a British Colony) and used the Southern Rhodesian Pound.

From 1964 until 1965 Southern Rhodesia (still a British Colony) used the Rhodesian Pound.

In 1965 Southern Rhodesia declared itself independent but wasn’t recognized by most of the worlds - as Rhodesia - and used the Rhodesian Pound from 1965-1970.

From 1970-1980 Rhodesia used the Rhodesian Dollar.

In 1980 Rhodesia became Zimbabwe and switched to the Zimbabwean Dollar until 2014 when Hyperinflation occurred  (1 US Dollar = 35 Quadrillion Zimbabwean dollars.)

From 2014 until today Zimbabwe has allowed the US Dollar, the South African Rand, the Botswana Pula, the British Pound, the Euro, the Australian Dollar, the Chinese Yuan, the Indian Rupee, and the Japanese Yen to be legal tender in the country.

In 2016 Zimbabwe also introduced the Zimbabwean Bond Note (backed by the US Dollar.) The other Foreign Currencies continue to be used throughout the country with the US Dollar the most popular.

Currency Smart

In some places you have to be Currency Smart as well as Linguistically Smart.

When I was in Northern Ireland in June 2010 I had Euros (since we started and were ending in the Republic of Ireland), English Pounds (since we were going to London, England) and Northern Irish Pounds from the 3 different Banks there.

There are Northern Irish Pounds issued by the Bank of Ireland, Danske Bank and Ulster Bank (which are only accepted in Northern Ireland and a few Irish Border Towns or at any Bank in the UK for the local Pound at par.)

You can’t just use English Pounds anywhere since that shows you are a Loyalist/Protestant and you can’t use Euros since that shows you are a Republican/Catholic.

The same with the 3 different types of Irish Pounds by the 3 different Northern Irish Banks. Of course speaking with an American accent got me out of any kind of trouble for using the “wrong” Pound in the “wrong” Place (ie. a Protestant-Friendly Bank Pound in a Catholic Area or a Catholic-Friendly Bank Pound in a Protestant Area.)

I was once called a “Taig” which is a derogatory term for a Northern Irish Catholic.

I was also once called a “Prod” which is a derogatory term for a Northern Irish Protestant.

I know some Brits that use an American Accent when they travel to certain parts of the UK and NI so they can’t be “found out.”

I simply said I was an American and then everything was fine. I also tried to use my Credit Card as often as I could.

I will say that the people I met in Northern Ireland were friendlier and more helpful than the ones I met in the Republic of Ireland or in London – maybe because they knew we were Tourists and they got so few of them.

 

It was the same when I was in Bosnia, Croatia and Montenegro in December 2010.

Even today there are Ethnic and Linguistic Rivalries between the: Slovenes, North Macedonians, Croatians, Serbs, Montenegrins, Bosnians, Kosovars, etc. stemming from Centuries-Old Issues, World War 2 and of course the different Wars in the Former Yugoslavia in the 1990s.

All the different Languages (once Called-Serbo-Croatian) are largely mutually intelligible with one another so a person who knows Croatian (written in the Latin Alphabet) can understand a Serb (written in the Cyrillic Alphabet.) When speaking there is no Alphabets and it is easier to know the Ethnicity of the person – for those that look for that kind of thing.

We had several individual private tours when in Croatia, Bosnia and Montenegro and our guides would only speak in English even when speaking with the Locals so that the Bosniak Local couldn’t tell the Guide was Croatian or the Bosnian Serb Local couldn’t tell our Guide was Montenegrin, etc.

I also learned the Local Words for Thank You in Croatian (Hvala), in Bosnian Latin (Hvala), in Bosnian Cyrillic (Хвала) and in Montenegrin (Hvala.)

As for Currencies:

At the time Croatia used the Kuna (it now uses the Euro), Montenegro used the Euro and Bosnia used the Convertible Mark, but everyplace accepted the Euro.  

I had no issues using my Kunas in Croatia and no issues using Euros in Montenegro or on Bosnia (almost no place accepted Credit Cards.)

I did have Bosnian Convertible Marks, but never used any while in Bosnia because the Serbian Part of Bosnia (called the Republika Srpska) had Convertible Marks with Cyrillic first and the Bosniak Part of Bosnia (called the Federation of Bosnia and Herzegovina) had Convertible Marks with Latin first.

I didn’t want to have any trouble so just used Euros everywhere in Bosnia.

To be fair I met some of the nicest and most helpful people in Croatia, Bosnia and Montenegro. Maybe it was because they knew we were Foreigners.

 

When I went to Israel and the West Bank in October 2017 I had Swiss Francs (because we also went to Switzerland), Israeli New Shekels, Euros and American Dollars.

In Israel we could use the Israeli New Shekels anywhere, but not in the West Bank (even though it is technically allowed and the Israeli New Shekel is written in Hebrew, Arabic and English.)

I used either American Dollars or Euros in the West Bank and had no issues. Israeli Citizens are forbidden to go to the West Bank under both Israeli Law and Palestinian Law so the Palestinians there knew we weren’t Israelis.

In a lot of places in Israel you could also use American Dollars or Euros if you didn’t have any New Shekels.

I also learned to say Thank You in Hebrew: Toda - (תודה) and in Arabic: Shukran - شكر)

 

Those are just some of the places I have been to and had issues with Currencies or Languages.

Hoarding DMs

From the DW:

“Why are Germans hoarding billions of useless deutsche marks?”

As everything seems to be getting more expensive through inflation, many Germans have a secret stash of cash at home. They're holding on to their long-expired currency instead of exchanging it. What are they waiting for? Germans will start 2024 with a few extra billion stuffed between sofa cushions. No, not euros, but old deutsche marks. People in Germany are famous for their attachment to cash, but more than two decades after the introduction of the euro, millions of deutsche mark (DM) coins and colorful bills are in sock drawers or have been lost down sewer drains. While some of this old money lies with nostalgic Germans or collectors, another chunk can be chalked up as souvenirs taken home by tourists over the years. Experts say countries that once used it as a reserve currency may still hold some. No one really knows for sure. Though these marks can no longer be used, they can be traded for euros.

Just how much old currency is out there? The fact that marks ceased to be legal tender in early 2002 seems to make little difference. Of the 162.3 billion marks in circulation at the time, around 7.5% of the hard currency is unaccounted for. Over half of the coins by value have not come home in the last two decades. At the end of 2023, there were 12.24 billion marks still in circulation, according to the Bundesbank, Germany's central bank. Broken down, that comes to 5.68 billion marks in bills and 6.56 billion marks in coins. Together, they are worth around €6.26 billion ($6.92 billion). Even for Europe's biggest economy, that is a significant amount lying idle, especially at a time when the government is searching for funding for infrastructure projects like the green energy transition and rail upgrades that are important for its economic future.

Marks slowly but surely coming back to the bank Even though the deutsche marks are "only gradually finding" their way back to the Bundesbank, the bank is not worried about the missing cash. Anyone with old coins or bills can exchange them at a central bank branch in any amount. And indeed, a lot is exchanged each year.  The exchange rate is fixed at €1 to 1.95583 deutsche marks, and the service is free of charge. Last year, more than 90,000 people showed up at the central bank, and upward of 53 million marks were handed over in exchange for €27 million, an increase over the previous year. Two-thirds of the overall value were banknotes, while one-third comprised coins. The most came from Bavaria, followed by North Rhine-Westphalia and Baden-Württemberg. Importantly, the bank assures people there are no plans to discontinue this service. This makes Germany a bit of an outlier, as only five other eurozone countries have no deadline for handing over their old currencies: Austria, Ireland, Estonia, Latvia and Lithuania. Other countries that took up the euro offered only a limited window for the exchange of money. In France, any franc hoarders had until March 31, 2008, at the latest, to hand them in. Greece was a bit more generous and gave everyone until March 2012 to exchange their drachmas. Now anyone there who finds old currency under a loose floorboard is out of luck.

Germans continue paying in cash Luckily, for Germans, there is no rush. And maybe some of them still cannot let go. After all, they used those bills and coins a lot. It is not out of the ordinary even today to see "Cash Only!" signs in restaurants and kiosks.  In 2021, despite an uptick in cashless payments, cash was the most frequently used means of day-to-day payment in Germany, according to the latest study forsa, a market research institute, conducted for the Bundesbank. Though cash payments have fallen sharply since 2017, the researchers concluded that cash was still used for 58% of goods and services purchased. Measured in turnover, cash payments amounted to only 30% since larger purchases and online shopping are often paid by other means. On average individuals carried €100 in their wallets. For one-third of people, cash remains the generally preferred means of payment, found forsa. As for the old deutsche marks lying around, Burkhard Balz, a Bundesbank board member, expects more to roll in soon, especially with a big generational change. "When cleaning up inherited houses and apartments, deutsche marks are likely to be found," he told the dpa news agency in December 2023. Yet many will wonder if a handful of coins is worth a trip to the bank and stick them back in a jar. There they will wait to be discovered again while confounding bankers as to their whereabouts.  For those marks that do end up back at the central bank, it is the end of the road. Notes are shredded on-site. Coins are sorted and sent to one of the five German mints where they are cancelled. The metal then goes to scrap recyclers that melt it down for other uses. Not a happy end maybe, but a way to make a bit of extra cash in tough times.

^ Germans hoarding Deutsche Marks 22 years after it ceased to be legal tender is odd.

there are 12.24 Billion Deutsche Marks still in circulation (5.68 Billion Deutsche Marks in Bills and 6.56 Billion Deutsche Marks in Coins. Together, they are worth around €6.26 Billion Euros ($6.92 Billion US Dollars.)

This is odd since Germans have a history of changing money.

They used the Gold Mark from 1873 to 1914, the Papiermark from 1914 to 1923, the Rentenmark from 1923 to 1924, the Reichsmark from 1924 to 1948, the Saar Mark (in French-Occupied Saarland) from 1947 to 1947, the Saar France (in French-Occupied Saarland) from 1947 to 1957, the East German Mark (in Soviet-Occupied East Germany) from 1948 to 1990, the Deutsche Mark (in American/British/French Occupied West Germany) from 1948-1990 and then in Reunited Germany from 1990-2002 before switching to the Euro in 2002.

Note: There were 4 other Currencies used in Germany and the different German States before 1873.

Americans, on the other hand, have used the United States Dollar since 1792.

88% of the World uses the US Dollar for International Transactions. ^

https://www.dw.com/en/free-money-why-are-billions-of-german-marks-still-floating-around/a-67875558

Collecting Currencies

I have collected Currency Bills from around the US and the World ever since I was a Little Kid.

(My German Euro Starter Kit.)

I don't usually collect Coins unless it is for a Special Occasion (in Honor of a Famous Person or Event, etc.) or if I have been to that Country/Territory and have leftover Coins.

I have also collected National Euro Starter Kits (to help Europeans get used to the new Euro Currency) since 2002.

20 European Countries have their own National Euro Starter Kits.

Multiple Currencies

From Reuters:

“Zimbabwe extends multi-currency system to 2030”

(A man poses with Zimbabwe's new two dollar banknote as customers queue outside a bank in Harare, Zimbabwe, November 12, 2019.)

Zimbabwe's government will maintain its multi-currency system, anchored by the U.S. dollar, to 2030, it said on Friday. The government had previously said that the multi-currency system would end in 2025. This had triggered uncertainty in the banking sector, with some banks refusing to give loans past 2025. In a government gazette, President Emmerson Mnangagwa repealed the 2019 order which had given 2025 as a deadline. "Settlement of any transaction or payment for goods and services in foreign currency, shall ... be valid until the 31st December, 2030," reads the gazette.

Economists say nearly 80% of local transactions are in U.S. dollars amid waning confidence in the Zimbabwean dollar. Zimbabwe abandoned its inflation-ravaged dollar in 2009, opting instead to use foreign currencies, mostly the U.S. dollar. The government reintroduced the local currency in 2019, but it rapidly lost value again. Despite repeated efforts by authorities to boost confidence, the Zimdollar has weakened by over 80% this year, according to economists.

^ Having so many Official Currencies seems very confusing. ^

https://www.reuters.com/markets/currencies/zimbabwe-extends-multi-currency-system-2030-2023-10-27/

Iraqis' Dollars

From Reuters:

“Exclusive: Iraq to end all dollar cash withdrawals by Jan. 1 2024, central-bank official says”

Iraq will ban cash withdrawals and transactions in U.S dollars as of Jan. 1 2024 in the latest push to curb the misuse of its hard currency reserves in financial crimes and the evasion of U.S. sanctions on Iran, a top Iraqi central bank official said. The move aims to stamp out the illicit use of some 50% of the $10 billion that Iraq imports in cash from the New York Federal Reserve each year, Mazen Ahmed, director-general of investment and remittances at the Iraqi central bank (CBI), told Reuters. It's also part of a broader push to de-dollarize an economy that has seen the greenback preferred over local notes by a population weary of recurring wars and crises following the 2003 U.S. invasion.

People who deposit dollars into banks before the end of 2023 will continue to be able to withdraw funds in dollars in 2024, Ahmed said. But dollars deposited in 2024 could only be withdrawn in local currency at the official rate of 1,320. The parallel market rate of the Iraqi dinar sat at 1,560 on Thursday, roughly 15% percent below the official rate. "You want to transfer? Transfer. You want a card in dollars? Here you go, you can use the card inside Iraq at the official rate, or if you want to withdraw cash, you can at the official rate in dinars," Ahmed said. "But don't talk to me about cash dollars anymore." A central bank statement later said the ban on cash dollar withdrawals would only apply to accounts receiving transfers from abroad.

Iraq has already set up a platform to regulate wire transfers that make up the bulk of its dollar demand and that used to be a hotbed of fake receipts and fraudulent transactions that siphoned dollars to Iran and Syria, both countries under U.S. sanctions Set up in concert with authorities in the U.S., where Iraq's$120 billion in reserves from oil sales are held, that system was now nearly airtight, Ahmed said, providing dollars at the official rate to those engaged in legitimate trade such as imports of food and consumer goods. But the cash withdrawals have continued to be misused, he said, including by would-be travellers provided with a state quota of $3000 who have found ways to game the system. Iraq is heavily reliant on Washington's goodwill to ensure oil revenues and finances do not face U.S. censure. At the same time, the current government, which is backed by powerful parties and armed factions close to Iran, has been careful not to alienate Tehran, nor anger the parties and armed groups with deep interests in Iraq's highly informal economy.

DOLLAR SHORTAGE Many local banks have already been limiting dollar cash withdrawals in the past months, compounding a shortage that has seen the parallel market exchange rate continue to rise. Ahmed said some banks were low on dollars because many people were trying to withdraw dollars at once amid a feeling of unease over the financial system, while some banks also had shortages because they provided dollar-denominated loans that were then paid back in dinars. The CBI had also limited the amount of dollars it was providing as part of an agreement with the Fed to limit cash and shift towards e-payment, he said. He denied reports of a stoppage in cash shipments to Iraq from the Fed, noting the latest regular shipment had arrived on Wednesday. Ahmed said the CBI expected the dinar could lose more value as the new measures went into force but said it was an acceptable side-effect of formalising the financial system and the CBI was providing dollars at the official rate for all legitimate purposes. "The cost we are carrying today is nothing compared to this goal," he said, describing the parallel market rate as a rate used mostly for illegitimate transactions. "We don't have a problem with the (parallel) exchange rate hitting 1,700. If they tell me the rate is 1,700, I tell them: 'you want to import from Iran. You want to smuggle. You have corrupt money that you want to get out.'" He added: "As long as all transparent and legal financing operations happen via us (at the official rate), the rest does not matter." The central bank statement later quoted Ahmed as saying that the central bank was taking steps that would reduce the parallel market exchange rate and there was no indication that the market rate would hit 1,700.

Some signs of frustration with dollar shortages have already begun to emerge. On Thursday, video circulated on social media showing a depositor at a Baghdad bank threatening to burn it down if he did not receive his deposit in cash dollars, a scene reminiscent of steps depositors have taken amid Lebanon's banking crisis. "I swear I will burn it down. I swear I will enter the safe and take my money" the man says.

^ I know many Non-Americans around the World who keep most of their money in US Dollars because it is very stable and an International Currency. I don’t see the Iraqis giving up the US Dollar anytime soon – no matter what the official policy is. ^

https://www.reuters.com/markets/currencies/iraq-end-all-dollar-cash-withdrawals-by-jan-1-2024-cbank-official-2023-10-05/

Dollar Coins

Did you know the United States has Presidential Dollar Coins (they are like the US State Quarters and are not just for Collectors?)

(John F. Kennedy Dollar Coin.)

The Program started in 2007 with George Washington and ended in 2016 with Ronald Reagan (with a special Dollar Coin made in 2020 after George H. W. Bush died in 2018.)

There is also a Separate Dollar Coins for the First Ladies starting in 2007 with Martha Washington and ending in 2016 with Nancy Reagan (with a special Dollar Coin made in 2020 for Barbara Bush who died in 2018.)

$2 Billion US Dollars worth of Both Presidential Coins and First Lady Coins were minted from 2007 to 2016.

Since 98.7% of Americans don’t like using Dollar Coins (Presidential, First Lady or Sacagawea) these Coins remain mostly unused in favor of the US Dollar Bill.

The Sacagawea Dollar Coin will be redesigned in 2024 to honor the 100^th Anniversary of the Indian Citizenship Act of 1924 (and will most likely not be used by anyone like all the other Dollar Coins.)

The US has minted $4 Billion Sacagawea Dollar Coins from 2000-2020.

While Americans don’t like to use the US Dollar Coins other Countries that Officially and Unofficially use the US Dollar do use the Dollar Coins regularly.

Officially Use the US Dollar: Cambodia, East Timor, Ecuador, El Salvador, Liberia, the Marshall Islands, Micronesia, Palau, Panama and Zimbabwe.

Unofficially Use the US Dollar: Bonaire, the British Virgin Islands, Canada, Saba, St. Eustatius and Turks and Caicos.

Countries/Territories where their Currency is Pegged to the US Dollar: Aruba, the Bahamas (at par), Bahrain, Barbados, Belarus, Belize, Bermuda (at par), the Cayman Islands, Costa Rica, Cuba, Eastern Caribbean (Antigua & Barbuda, Anguilla, Dominica, Grenada, Montserrat, Saint Kitts & Nevis, Saint Lucia and St. Vincent & the Grenadines), Eritrea, Guatemala, Haiti, Honduras, Hong Kong, Iraq, Jordan, Kuwait, Lebanon, Nigeria, Oman, Sierra Leone, Qatar, Saudi Arabia, Trinidad & Tobago and Yemen.

US Dollars (and Dollar Coins) are also the Foremost Foreign Currency Reserve with 60% Foreign Governments, Foreign Banks, and Foreign Individuals using the US Dollar around the World.

King's Name/Image

From the BBC:

“First British passports issued with King's name”

The first British passports issued in King Charles's name are being released this week, the Home Office has said. Passports will now use the wording "His Majesty", with the era finally ending for passports using "Her Majesty", for the late Queen Elizabeth II. The last time "His Majesty" appeared on a passport was in the reign of King George VI, which ended in 1952.

Five million passports have been issued already this year under the name of the late Queen. The one person who will not need a passport is the King himself. By convention the monarch does not have to carry a passport to travel, because it is a document issued in his own name. The updated passports are the latest stage in the gradual transition in reigns, with stamps and some coins now carrying the King's head. Banknotes will begin to change next year.

Since the late Queen's death last September there has been a steady process of switching to images and insignia of the new King, with an emphasis on using up existing stocks rather than having an abrupt change. It will be the same for passports, with any existing supplies with "Her Majesty" being used until they run out, alongside the arrival of the new version. The new passports will now carry the words: "His Britannic Majesty's Secretary of State requests and requires in the name of His Majesty..." But the previous "Her Majesty" passports will also continue to be valid until their expiry date. Home Secretary Suella Braverman said: "For 70 years, Her Majesty has appeared on British passports and many of us will not remember a time when she did not feature. Today marks a significant moment in UK history." After problems with delays to issuing passports last year and industrial action this year, the Home Office says 99% of passports are being issued within 10 weeks of application.

UK passports in their modern form, with photo and signature, have been issued since 1915, with the first security watermark being added in 1972 and machine-readable passports introduced in 1988. In 2020, after leaving the European Union, UK passports changed from a burgundy colour, used since 1988, to dark blue. This was described as returning to an "iconic blue", which prompted arguments on social media over the colour of new and old passports, with debates over whether the pre-EU and post-EU versions were really blue or black.

^ British Passports have had to change a lot lately – removing the “European Union” and going back to being Blue and now the Monarch.

There are several different British Passports in Circulation:

50 Million Passports for British Citizens (The United Kingdom of Great Britain and Northern Ireland, the Isle of Man, Jersey, Sark, Helm and Guernsey.)

92,000 Passports for British Overseas Territories Citizens (Anguilla, Bermuda, the British Antarctic Territory, the British Indian Ocean territory, the British Virgin Islands, the Cayman Islands, the Falkland Islands, Gibraltar, Montserrat, the Pitcairn Islands, Saint Helena, Ascension and Tristan da Cunha, South Georgia and the South Sandwich Islands, the Sovereign Base Areas of Akrotiri and Dhekelia, and the Turks and Caicos Islands.)

10,000 Passports for British Overseas Citizens (A Handful of People from the Former British Colonies like Kenya, Myanmar, etc.)

25,000 Passports for British Subjects With the Right of Abode in the UK (A Handful of People born in Ireland, Pakistan, Bangladesh, India and Sri Lanka before 1949.)

600 Passports for British Subjects Without the Right of Abode in the UK (A Handful of People born in Ireland, Pakistan, Bangladesh, India and Sri Lanka before 1949.)

1,000 Passports for British Protected Persons (A Handful of Citizens from the Former British Protectorates and Mandates of: Brunei, Malaysia, the Maldives, Tonga, Cameroon, the Solomon Islands, Eswatini, Uganda, Somalia, Sierra Leone, etc.)

709,000 Passports for British Nationals (Overseas) (Those born in British Hong Kong before 1997.)

For Reference There are only 2 Types of Ordinary American Passports: 1 for American Citizens and 1 for American Nationals (from American Samoa) with 151 Million Passports issued.

For Reference There is only 1 Type of Ordinary Canadian Passport with 25 Million Passports Issued. Canadian Passports are also changing from “Her Majesty” to “His Majesty” since Charles III is King of Canada.

There are Several Different Pounds used in the UK and the British Territories that will also change from having Queen Elizabeth II on them to King Charles III:

4.6 Billion Banknotes of the Bank of England 5, 10, 20 and 50 Pound Notes with Queen Elizabeth II on it with be replaced with King Charles III in 2024. Bank of England Notes are accepted everywhere in the United Kingdom (England, Scotland, Wales and Northern Ireland) and in any British Territory.

The Banknotes of the Bank of Scotland and the Royal Bank of Scotland and the Clydesdale Bank (which are only accepted in Scotland and at Banks in England) do not have either Queen Elizabeth II or King Charles III on them so won’t change.

The Banknotes of the Bank of Ireland, the First Trust Bank, the Danske Bank and Ulster Bank (which are only accepted in Northern Ireland and at Banks in England) do not have either Queen Elizabeth II or King Charles III on them so won’t change.

The Banknotes of Jersey’s 1, 5, 10, 20, 50 and 100 Pound Notes (which are only accepted in Jersey and in Banks in England) with Queen Elizabeth II on it with be replaced with King Charles III.

The Banknotes of Guernsey’s 5, 10, 20, 50 and 100 Pound Notes (which are only accepted in Guernsey and in Banks in England) with Queen Elizabeth II on it with be replaced with King Charles III.

The Banknotes of the Isle of Man’s 1, 5, 10, 20, 50 and 100 Pound Notes (which are only accepted on the Isle of Man and in Banks in England) with Queen Elizabeth II on it with be replaced with King Charles III.

The Banknotes of Gibraltar’s 5, 10, 20, 50 and 100 Pound Notes (which are only accepted in Gibraltar and in Banks in England) with Queen Elizabeth II on it with be replaced with King Charles III.

The Banknotes of the Falkland Islands’ 5, 10, 20, 50 and 100 Pound Notes (which are only accepted in the Falkland Islands, the South Sandwich Islands and in Banks in England) with Queen Elizabeth II on it with be replaced with King Charles III.

The Banknotes of Saint Helena’s 5, 10, 20, 50 and 100 Pound Notes (which are only accepted on Saint Helena, Ascension, Tristan da Cunha and at Banks in England) with Queen Elizabeth II on it with be replaced with King Charles III.

The Banknotes of the Eastern Caribbean Dollar’s  5, 10 20, 50 and 100 Dollar Notes (which are only accepted in Anguilla, Antigua & Barbuda, Dominica, Grenada, Montserrat, St. Kitts & Nevis, Saint Lucia and Saint Vincent & the Grenadines) with Queen Elizabeth II on it with be replaced with King Charles III.

The Banknotes of the Cayman Island Dollar’s 1,5, 10, 20, 50 and 100 Dollar Notes (which are only accepted on the Cayman Islands) with Queen Elizabeth II on it with be replaced with King Charles III.

The Banknotes of the Bermudan Dollar (which are only accepted on Bermuda) do not have either Queen Elizabeth II or King Charles III on them so they won’t change.

The Banknotes of the New Zealand Dollar $20 Dollar Note (which is only accepted in New Zealand, the Cook Islands, Niue, Tokelau and the Pitcairn Islands) with Queen Elizabeth II on it with be replaced with King Charles III.

The Banknotes of the Australian Dollar $5 Dollar Note (which is only accepted in Australia, Norfolk Island, Christmas Island, Kiribati, Tuvalu and Nauru) with Queen Elizabeth II on it with be replaced with King Charles III.

The Banknotes of the Canadian Dollar’s $20 Dollar Note (which is only accepted in Canada) with Queen Elizabeth II on it with be replaced with King Charles III. The Canadian 5 Cent, 10 Cent, 25 Cent, $1 Coin or the $2 Coin with King Charles III on it are set to be announced this Fall with an unknown date of Circulation. ^

https://www.bbc.com/news/uk-66238608

12.41 Euros

From the DW:

“Germany: Minimum wage to increase to €12.41 in 2024”

Germany is set to raise its minimum wage to €12.41 ($13.51) per hour beginning on January 1, 2024, based on new recommendations from the country's Minimum Wage Commission. The current minimum wage is €12 per hour. A year later, on January 1, 2025, the minimum wage is to be raised again, to €12.82, according to the recommendations, which are almost always put into effect by the German government. Every two years, the commission, which is made up of representatives from companies, trade unions and science, issues a recommendation on the future level of the minimum wage. Labor representatives on the commission, however, opposed the minimum wage hike as insufficient for workers hurt by high inflation. "The resolution comes at a time of weak economic growth and persistently high inflation in Germany, which poses great challenges for companies and employees alike," the commission said in its decision.

Rise is not enough, trade unions say The German Trade Union Confederation (DGB) sharply criticized the decision. Board member Stefan Körzell, who is also a member of the Minimum Wage Commission, said that the €0.41 nominal raise would in fact amount to an enormous wage cut for the country's roughly 6 million minimum-wage workers, given high inflation. Körzell said labor representatives had pressed for an increase to at least €13.50 but were rebuffed by company representatives and the chairwoman of the commission, Christiane Schönefeld. Germany's Social Democrat-led coalition government last year bypassed the commission to hike the country's minimum wage from €10.45 to €12 in October. The increase had been a key campaign pledge of Chancellor Olaf Scholz. Germany first introduced a statutory minimum wage in 2015. It was initially €8.50 per hour but has been increased repeatedly since then.

^ Germany is in a Recession and the German People need more help paying for basic things. ^

https://www.dw.com/en/germany-minimum-wage-to-increase-to-1241-in-2024/a-66030989

2,000 Peso Bill

 From Reuters:

“Argentina's new top banknote is worth as little as $4”

Argentina's new 2,000-peso bill, the largest denomination note, went into circulation on Monday, though due to fast depreciation of the currency it is worth only $8.50 at the official exchange rate and just over $4 in commonly used parallel markets. The peso has shed around a quarter of its value against the dollar this year despite strict capital controls that slow its fall. Most Argentines buy dollars in unofficial markets where they trade at over 480 pesos versus the official rate of 235.

The South American nation is also battling inflation at 109%, one of the highest in the world, which a central bank poll estimates could hit nearly 130% by the end of the year. The interest rate has been hiked to an eye-watering 97%. With around half of all commercial transactions still carried out in cash, the new largest bill should partially ease issues that have seen banks run short of vault space and both locals and tourists often carry around bags of cash to pay for things. "This higher denomination bill will improve the operation of ATMs and at the same time optimize the movement of cash," the central bank said in a statement on Monday. The largest bank note previously had been the 1,000 peso bill.

The new 2,000 banknote has a design commemorating the development of science and medicine in Argentina, the central bank said.

^ Argentina hasn’t historically had good luck with its currency values and sadly history is repeating itself now. ^

https://www.reuters.com/markets/currencies/argentinas-new-top-banknote-is-worth-little-4-2023-05-22/

Different Pounds

 

Contrary to what some people believe there is no such thing as the British Pound.

There are English Pounds made by the Bank of England (which are accepted in England, Scotland, Wales, Northern Ireland, the Channel Islands of Jersey and Guernsey, Gibraltar, Isle of Man, the Falkland Islands and Saint Helena.)

There are Scottish Pounds issued by the Bank of Scotland, the Royal Bank of Scotland and the Clydesdale Bank (which can be accepted in English Border Towns or at any Bank in the UK for the local Pound at par.)

There are Northern Irish Pounds issued by the Bank of Ireland, Danske Bank and Ulster Bank (which are only accepted in Northern Ireland and a few Irish Border Towns or at any Bank in the UK for the local Pound at par.)

There are Isle of Man Pounds issued by the Isle of Man Government (which are only accepted in the Isle of Man or at any Bank in the UK for the local Pound at par.)

There are Jersey Pounds issued by the States of Jersey (which are accepted in Jersey, sometimes in Guernsey or at any Bank in the UK for the local Pound at par.)

There are Guernsey Pounds issued by the States of Guernsey (which are accepted in Guernsey, sometimes in Jersey or at any Bank in the UK for the local Pound at par.)

There are Gibraltar Pounds issued by the Gibraltar Government (which are only accepted in Gibraltar or at any Bank in the UK for the local Pound at par.)

There are the Falkland Islands Pound issued by the Government of Falkland Islands (which are only accepted in the Falkland Islands or at any Bank in the UK for the local Pound at par.)

There are Saint Helena Pounds issued by the Government of Saint Helena (which are only accepted in Saint Helena or at any Bank in the UK for the local Pound at par.)

Only English Pounds, Gibraltar Pounds, Jersey Pounds, Guernsey Pounds, Isle of Man Pounds, Falkland Islands Pounds and Saint Helena Pounds have the British Monarch on some of the bills (not Northern Ireland or Scotland.)

Note: There are no Welsh Pounds.

You have to be careful with what Pounds you have depending on where you are. I remember being in Scotland and trying to use English Pounds in several places and got called out for it  - things got better when they learned I was American and not English.

It is much worse in Northern Ireland. When I was there I had English Pounds (for when I was in London, England) Euros (for when I was in Ireland) and the 3 different Northern Irish Pounds (for when I was in Northern Ireland.) You can’t just use English Pounds anywhere since that shows you are a Loyalist/Protestant and you can’t use Euros since that shows you are a Republican/Catholic. The same with the 3 different types of Irish Pounds by the 3 different Northern Irish Banks. Of course speaking with an American accent got me out of any kind of trouble for using the “wrong” Pound in the “wrong” Place (ie. a Protestant-Friendly Bank Pound in a Catholic Area or a Catholic-Friendly Bank Pound in a Protestant Area.)

I have all the different Pounds (as well as every Currency Bill from every Current Country and Territory and every Historical Country and Territory since 1750.)

High Bill

From Reuters:

“Argentina OKs new 2,000 peso bill as inflation bites, still only worth $5”

Argentina will roll out a new 2,000-peso bill, the central bank said on Thursday, which would double the face value of the country's top denomination bank note, but would still only be worth $11 officially and $5 in commonly used parallel markets. The South American country is battling one of the world's highest inflation rates, with prices climbing 95% last year, and a steady devaluation of the peso, which means Argentines and tourists often carry huge stacks of bills to make payments.

The largest current bill, the 1,000 peso note, is worth just $2.70 on the alternative markets most people use to exchange currency, including through formal money exchange firms. Buying dollars at the official rate is strictly limited.mGiven the new 2,000 peso note would still leave Argentina's largest tender as one of the lowest-valued in the region, a 5,000 peso bill is being studied, according to a source from the central bank, though has not yet been given approval. "The 2,000 peso denomination will be integrated into the current peso series," the central bank said in a statement. It did not directly refer to the rising pressures of inflation or say when the new note would enter the market.

Bankers have raised concerns about the cost of storing an increasingly large volume of bills in bank vaults, while consumers and tourists often complain about having to fill bags with cash to make even regular payments. Argentina's tender has lost so much value in recent years that one local artist uses banknotes for painting on because they are cheaper than a canvas.

^ It’s sad to see Argentina’s economy and currency fall so quickly. ^

https://www.reuters.com/world/americas/argentina-oks-new-2000-peso-bill-inflation-bites-still-only-worth-5-2023-02-02/