Economic history of Argentina reforms such as open trade. On 1 January 1992, a monetary reform replaced the austral with the peso at a rate of 10,000 australs for 1 peso. The cornerstone of the reform process was a currency board, under which the peso was fixed by law at par to the dollar, and the money supply restricted to the level of hard-currency reserves. A risky policy which meant at a later stage Argentina could not devalue. After a lag, inflation was tamed. With risk of devaluation apparently removed, capital poured in from abroad. GDP growth increased significantly and total employment rose steadily
Traders' currency tokens of the Isle of Man Traders' currency tokens of the Isle of Man The traders' currency tokens of the Isle of Man were issued in 1668 and between 1811 and 1831 by various issuers. These tokens have the distinction of being the first Manx currency coins. They are denominated as 1 Penny. There are two types, and they are both extremely rare. The obverse of the Type I piece is inscribed 'HIS PENNY I M' within a beaded circle, and 'IOHN MVRREY 1668'. The reverse of this piece has the Triskelion with spurs at heels within a beaded circle. It is inscribed 'QVOCVNQVE GESSERIS STABIT'.