Republican sterling

The Republican Sterling (abbreviation: rstg; : RS), or Republickanach Stoirling is the primary currency used in the Peoples Republic of Grenedene. The Pound (sign: ꞂꞄ) is the main unit of sterling, and the word "pound" is also used to refer to the Grenedeneish currency, often qualified in international contexts as the Grendeneish pound or the pound sterling.

The Republican Sterling is continuation of the old Royal Sterling, originally made in 1475 with the foundation of the Kingdom, a currency which succeeded the old Grenedeneish Easterling.

The Bank of Grendene is the central bank for sterling, issuing its own banknotes, and regulating issuance of banknotes by private banks in the Republic as a whole, including Tyrdene, and has been in common use since its standardization as the national currency and the discontinuation of the Royal Sterling in 1956, when it became rare enough to justify its complete disuse as whole in the nation.

Names
"Sterling" is the name of the currency as a whole while "pound" and "penny" are the units of account.

Etymology
The name Sterling likely came from the currencies of the conquering empires, specifically that of those who came by sea and invaded Grendene during the 1100's, bringing with them large quantities of their currency, known to be a circular piece of silver with a depiction of a star upon it. It is known that prior to unification the Kingdom's all had their own sterlings, however the primary trade unit used by the Grenedeneish nation remained the Grendeneish Easterling.

Symbol
The symbol of the Republican Sterling is the letters ꞂꞄ, which stand, effectively, for RS in the Grenedeneish type, of course, this is a simple abbreviation of the name of the Sterling, something which is born on all banknotes and coins.

History
Prior to the introduction of the Easterling, the Grenedeneish used a variety of currencies, such as the Goldet, however, the first currency to stick and be used in earnest was the regularly accepted Easterling in the 1100's, which became the primary accepted currency of trade, and was heavily used by merchants under commission of the invaders monarch, who demanded it be adopted to increase the monetary worth of the currency

Despite the land being taken from that initial invader, his currency remained the main one of trade in the Nation, and had a massive permanent effect on the entire country.

Upon the unification of Grenedene in 1475, the Monarch established the new currency of the Royal Sterling, which was widely adopted by the end of his reign, although it may not have been entirely universal, it would become, within the next 100 years, the sole coin of trade, becoming used by merchants and even used in some of the borderlands with other nations as a stable coin of trade which could be ensured as a result of the lack of a large scale conquering invasion of Grenedene.

The coin underwent refining by the 1600's which made it into a easier to carry coin, with a very strict circular shape. By the late 1700's the country began to see the introduction of early banknotes, however, said notes were not universalized to any bank, and many of them were only taken by one establishment or series of establishments in a local region.

By the mid 1800's the Government had fully established Banknotes, and, after a large amount of power play, managed to put Grenedene as the dominating place at which all banknotes were made and commissioned, making it so that within Tyrdene all notes were the same as the ones in Grenedene, effectively locking the area under economic control, something which would continue until the 1920's and would be reinstated under the Peoples Republic in 1938.

In 1926 the currency underwent a massive devaluation as a result of rebellion and the guarantees made by the government for the rights of citizens, something which angered the foreign industrialists who saw the region as being perfect for cheap, hardworking labor, and resulted in massive removal of investment, which was a heavy hit on the economy.

The Revolution resulted in the creation of a short term Provisional Sterling which would eventually be replaced by the Republican Sterling, which would slowly replace to Royal Sterling and by 1956 would have almost entirely put the Royal Sterling out of circulation, prompting the Government to officially remove it from accepted currencies in Government establishments, with the Government allowing anyone considered reliant on the old currency to trade it into the national archives for their money back in the initial pound.

Since the foundation of the Republic, the currency notably saw a major rise in worth up, constantly going up until about the 1980's, where inflation began to rise, reaching its peak in 2006 and continuing to go as is since then.