Salvadoran peso On August 28, 1892, the Salvadoran mint was established and production of silver and gold coins denominated in centavos and pesos began. In addition to copper 1 centavo coins, there were silver 5, 10, 20 and centavos and 1 peso, and gold 2½, 5, 10 and 20 pesos, although the gold coins were only issued in very small numbers (597, 558, 321, and 300 respectively. In 1909, bronze ¼ real coins were issued in response to the continued use of the real currency system in parts of the country. Coins for 25 centavos were introduced in 1911. Production of silver
Currency 5 khoums, while the Malagasy ariary is theoretically divided into 5 iraimbilanja. In these countries, words like "dollar" or "pound" "were simply names for given weights of gold." Due to inflation khoums and iraimbilanja have in practice fallen into disuse. (See non-decimal currencies for other historic currencies with non-decimal divisions.) Convertibility of a currency determines the ability of an individual, corporate or government to convert its local currency to another currency or vice versa with or without central bank/government intervention. Based on the above restrictions or free and readily conversion features, currencies are classified as: In economics, a local currency