Currency is described as the money in any form when in use or circulation as a medium of exchange, especially circulating banknotes and coins. Money is the actual value that is traded for goods and services. The concepts of money and currency are known on Earth and in the New World.
History[]
Before the invention of money, goods and services were often traded directly with each other. For example, when Japan came to the New World, they had a dire need for agricultural goods and resources to support their huge population. Therefore, in exchange for 55 million tons of food per year and access to rich oil and mineral deposits, the Qua-Toyne Principality and the Quila Kingdom received infrastructure improvements and Japanese products to improve their quality of life.
However, direct trade on a daily basis can be cumbersome and time-consuming. Traders and merchants who became interested in Japan, thought they could make a good profit by selling commercial goods like Mu's mechanical wristwatches. However, after seeing the superior technology and quality of Japanese products, they instead began thinking in terms of exporting Japanese goods to the other nations of the New World. As transactions started to become more frequent, a need for creating a currency in which all could put value upon appeared. For Japan, they already had a currency in use, the Japanese Yen. This would be instrumental in their treaties with Qua-Toyne and Quila, and would later become more prevalent after the Japanese-Parpaldian War and during the New World War.
Global Currencies[]
Global currencies are the very least affected by each country's currency. Regardless of how much the country develops, the global currencies are where every country are using it without seeing their own currency. It also determines the base value of the country's currency.
Precious Metal[]
Precious metal, such as Gold and Silver is highly valued especially when they are being created in terms of bars or simply known as an ingot or bullion. The precious metal is created for a long-term asset for most of people including the government. The government uses gold ingot as a base decision to print more money and usually used as a reserve known as a gold reserve while people are using it for long-term investment. It is also one of the support value of the country's currency.
Currency Exchanges[]
Due to the variety of currencies, Currency Exchanges often happens between both nations. To value it, one of the basic decision is to see the price worth of the gold bullion, the central of all currency value. Another consideration is to look at each market price for each important item. The currency exchange can be changed unexpectedly and it depends on how the country can handle economical growth and inflation rate. The better the country can handle economical growth and inflation rate, the stronger the currency exchange will be due to a strong economy.
Wartime nations disregard this but they also serve as their biggest blunder in the economical aspect. When a country has been defeated, such as Parpaldia Empire, its currency will be devalued into almost worthless. Without strong support from commercials and economical growth, it's very difficult to regain its strength.
Other New World Currencies[]
Japan[]
The Japanese Yen is the most valued currency and is what most other New World currencies are priced against.
Gra Valkas Empire[]
It is unknown what the Gra Valkas Empire uses for currency, though cost is a factor as it was the main reason why the Gra Valkas engineers abandoned jet engine research.
Mu[]
Unknown at this point.
Holy Milishial Empire[]
Unknown at this point.
Parpaldia Empire[]
The Parpaldian Pasos was the most used currency in the Third Civilization Area. However, after the war with Japan, it has likely been devalued to being almost worthless.
Magic Gemstones[]
Since magic exists in the New World, magic gemstones are seen as a currency itself and is traded and bartered for throughout many nations. The Altaras Kingdom was prized for its magic gemstone mine. The Parpaldia Empire was well-known for its high-quality Tear of the Wind God stones. And both the Holy Milishial Empire and Mu make use of high-quality, red magic stones for fuel.