Hinoan Kin

From Ordic Encyclopedia
Hinoan Kin

きん
Kin
キ10 note
ISO 4217 codeHNK
Central bankImperial Bank of Yamatai
User(s)Hinomoto Hinomoto
Subunit
 1/10Kin (キ)
 1/100Chi (チ)
Symbol
Coinsチ10, チ20, チ50, キ1
Banknotesキ2, キ10, キ50, キ100, キ500, キ1,000, キ10,000

The Kin (金; sign: キ; code: HIK) is the official currency of Hinomoto, a self-governing region of Yamatai. It is divided into 100 Chi. The Monetary Authority of Hinomoto (MAH) is the monetary board of Hinomoto and issues the banknotes and coins of the Hinoan kin. Since 2015, the kin has phased out all of its paper notes and currently only uses polymer notes.

Apart from its use in Hinomoto, the Hinoan kin is also accepted as customary tender in Shojin according to the 1997 Currency Interchangeability Agreement between the Monetary Authority of Hinomoto and the Royal Bank of Shojin. Likewise, the Shojinese Mon is also customarily accepted in Hinomoto.

History

The Hinoan Kin was first issued in 1950, during the occupation of Hinomoto by Chisei following the Second Escar-Varunan War. During the early years of the occupation, inflation skyrocketed within the occupied zones. Due to the unconventional governance of the Hinoan territory at the time, there was no official central monetary authority and Yamataian En, Chiseian Mon, Yeongseoni Won, and Shenxian Yuan were freely traded, with the latter currencies often brought into the territory by soldiers from the victorious Allies on leave or carrying out rebuilding projects. Confusion over exchange rates and heavy inflation eventually led to the value of the En within Hinomoto to become different from that used in Yamatai. Smuggling of currency became widespread, particularly around the Yamatai-controlled areas, part of the reason the Chiseian authorities erected fences and walls along the border.

In 1950, the Supreme Commander of Occupational Forces Sannyoayn began to enact measures to clamp down on the financial situation within Hinomoto. The Monetary Authority of Hinomoto was established in June and began to issue the new Kin, which was put on a fixed peg of 文1 to キ16. It would take another seven months to fully unify the Hinoan currency, mainly through aggressive measures such as introducing days where certain currencies were not legal tender within the increasingly common Royal Army provision stores, as well as the issuance of a general order making it mandatory for Allied troops on leave in Hinomoto to use the Kin. By mid 1951, all other currencies were declared to no longer be legal tender in Occupied Hinomoto.

Following the handover of Hinomoto back to Yamataian sovereignty, full autonomy with respect to currency issuance was one of the freedoms granted to the new Special Administrative Region, and the Kin remains in circulation.

Exchange rates

Exchange Rates as of 22, 2, 2022
Country Currency キ1
 Yamatai Yamataian En 85.64
 Chanha Chanhan Yùhn 20.72
 Chisei Woryube 85.64
 Shojin Shojin Mon 1
 Yeongseon Yeongseon Won 886.34
 Dai Hoa Dai Hoa Vien 16,965.85

See also