East Ramayan Austral

The East Ramayan Austral (Eastern Ramayan Standard: Austral Ramay Timur) was the of East Ramay between 1926 and 1981. It was first issued by the East Ramay Monetary Authority, who issued banknotes and coinage between 1926 and 1929, before the Central Bank of East Ramay was established. It was a currency fixated on the, where 1 Austral equaled exactly 7.37845 g of. The Austral was subdidivded into 8 Rupiahs, which was again divided into 16 Perak, with each Perak finally being subdivided into 4 Keping. The abrupt transtion between the Austral and the abolition of currency meant that old Austral notes are deemed instantly worthless by the new South Kesh authorities, meaning they could not be replaced with the current currency the Rupiah.

The unit of the Austral were based on traditional currency units already in widespread use or in practice before the colonization of the area. Under the Samot-Seratofian Empire, Eastern Ramay used the Eastern Ramay Krone pegged to the Samot-Seratofian Krone on par, which significantly differed from the units based on the traditional currency systems. Economists tied the two systems and currencies together using the value of gold and initially other precious metals but decided to solely rely on gold.

Initially, the Austral was concieved by four prominent economists who were tasked by authorities to create and design an economic and currency system for the newly independent colony of Eastern Ramay in 1295. As per the treaty of Holmgard, the currency designed by these economists would take effect one year after the declaration of independence from the SSE. A currency board was promulgated and created by the crown alliance, and served as the de-facto regulating authority in East Ramay when it comes to fiscal and monetary policy. This currency board was responsible for the maintaining of the gold standard as well as the printing and distribution of banknotes and coins throughout the country. In an effort to further stabilize and assure adequate foundations for a booming and largening economy, the currency board was formally abolished on the 17th of June 1929 upon the creation of the Central Bank of East Ramay two months prior to that date.

In 1981, a violent revolution which led to the foundation of Democratic Ramay took place, abolishing all forms of material and immaterial currency from the country. Between 1981 and 1986, Democratic Ramay operated as a cashless society. After the takeover by Yafan generals in 1986 and the formation of the Union of South Kesh, a new currency was introduced which was not based on the Austral and was already decimalized. Old Austral notes are not eligible to be exchanged in any manner in the new state.