Mobian ring

The Mobian ring (symbol: R; code: MBR; also abbreviated MR; referred to as the ring) is the official currency of Mobius, and of the Mobian Archipelago since 1848. One ring is divided into 100 cent-rings (symbol: r). The Revolutions of 1848 have led to the creation of a decimal currency by creating the deece, sank, and centy coins, as well as the ring, half-ring, and catre coins, all of which are still minted in 2020.

Several forms of paper money were introduced over the years, currently done by Jesston State Hall since 1976, the latest of which being the 2016 series, being the first banknote series in the country to have a vertical configuration in the obverse. While all existing Mobian currency remains legal tender, issuance of the previous forms of the currency (e.g. Mobian ring notes) was discontinued in May 1977. This also applies to older series of banknotes made since 1977. As a result, paper money that is in current circulation consists primarily of the current series of notes printed by the Crown Banknote Company that are denominated in Mobian rings.

The currency has been fiat money since the gold standard was dropped in 1932. The Mobian ring is one of the major reserve currencies in the world, being one of the most used in international transactions. It's also the de facto currency in some countries as well as an alternative currency in other countries that have their own currency.

Subdivisions
The ring is divided into 100 cent-rings (or centies). The symbol for the cent-ring is "r"; hence an amount such as 50r (0.50R) properly pronounced "fifty cent-rings" is often known as a "half-ring" or "halfer". The other subdivision names are the catre (25r; 0.25R), the deece (10r; 0.10R), and the sank (5r; 0.05R). They're named after the superunits of the old Mobian ring.

Superunits
While these are rarely used, the superunits are the official names for groups of rings. The smallest is the super-ring (10R), followed by the crown (100R), and the confederation (1000R). Unlike the subdivision names, these names are much newer, having been coined in the early 1980s where the use of such terms have been concentrated in the northern areas of the country.

History
Before the Mobian ring, there was a currency now known as the Old Mobian ring. Like the modern currency, the old currency was a decimal currency, but it had no subunits, instead a ring in the old currency was equal to a cent. It's unknown when the old currency was introduced, but several accounts have suggested that it was introduced in the 16th Century, replacing the older national currencies used on the archipelago. In the 19th Century, the old currency was experiencing severe deflation where one ring now equaled to one hundred times its value which presented a problem due to the lack of subunits.

During the Revolutions of 1848, the archipelago was united under the short-lived Kingdom of Mobius. The ministers of the government at the time have held a council to discuss what to do with the currency. Some suggestions included abolishing it in favour of the currencies of neighbouring countries, introducing subunits into the old currency, or replace it with a new currency. It was eventually decided that the old currency would be replaced with a new currency with its value based on that of a United States dollar, this time with subunits added for smaller transactions. This new currency is the current Mobian ring, though at this time the currency was very unregulated with unique designs from each nation in the archipelago.

After the Great Depression hit, in 1932 the Mobian nations decided to hold a council on currency reform. The largest issues were about the unregulated designs, and dealing with the economic depression. Unlike the last time, there was no suggestion to replace the currency with anything, but instead it was agreed upon that the designs of the coins and banknotes of the Mobian ring would be regulated, and that the gold standard would be dropped to make it easier to deal with the depression. This is when banknote designs were given a common theme as part of a design series. In 1976, the current designs of the coins were introduced alongside the 1976 Mobian banknote series. This was also when Jesston State Hall was given exclusive jurisdiction over the currency with designs made prior to this ceasing production in 1977.

Coins
Official Mobian coins have been produced every year from 1848 to the present. From 1976 to present, the denominations that are most commonly produced for circulation have been the centy, sank, deece, catre, halfer, and ring. The sank is the only coin still in use that has kept the same composition from its original version, that being 75% copper and 25% nickel.

Rarely used
While rarely used, these coins are still being produced albeit at smaller quantities and mainly for collectors, but they still get minted for circulation. Mobius is also one of the last countries to still mint fractions of $1/undefined$ of the currency.

Exchange rate
1R = US$1.23