Difference between revisions of "Eimami Icoa"
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{{Infobox currency | {{Infobox currency | ||
| currency_name_in_local = Icoa | | currency_name_in_local = Icoa | ||
| image_1 = | | image_1 = Icoa10.png | ||
| image_title_1 = 10 Icoa Note | | image_title_1 = 10 Icoa Note | ||
| alt1 = | | alt1 = | ||
Revision as of 17:08, 26 July 2018
| Eimami Icoa | |
|---|---|
| Icoa | |
 10 Icoa Note | |
| Code | EIC |
| Central bank | Eimami National Bank |
| Date of introduction | June 1, 2014 |
| User(s) |  Eimam |
| Inflation | 0.4% |
| Subunit | |
| 1/100 | Teren |
| Symbol | ¢ |
| Teren | t |
| Nickname | various |
| Coins | |
| Freq. used | 10t, 20t, 50t, ¢1, ¢5 |
| Rarely used | 1t, 2t, 5t, ¢2 |
| Banknotes | |
| Freq. used | ¢10, ¢50, ¢100, ¢500 |
| Rarely used | ¢20, ¢500, ¢1000 |
The Icoa (symbol: ¢; ISO code: EIC), also known as the Eimami Icoa, is the official currency of Eimam and the sole legal tender in its territory. It is one of the most traded currencies in Soltenna and Akulanen, thanks to its stability and low inflation. The Icoa is subdivided into 100 teren.
The Icoa is the youngest currency on Sahar, having been introduced in mid-2014. It replaced the Eimami Terea following a 6 month grace period starting in January of 2014, at a rate of 571 Terea to 1 Icoa. The Icoa is printed by the Central Bank of Eimam, but certain regional governments have been granted permission by Eimami National Bank to print their own commemorative notes, which are issued under the name of the Eimami National Bank. The commemorative notes are considered legal tender throughout the federation.
Since January of 2017, the minting of 1t and 2t coins has been officially discontinued and 99% of businesses within the country now practice rounding.
Etymology
The name of the currency comes from the Eimami version of the Terminian word Jikow. It's subunit's name, however, derives from the Ayape word 'terya' which means something akin to 'exchange good' or 'currency' as well as the diminutive marker '-n', this is also the root of the Icoa's predecessor, the Terea.