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Currency and Exchange Act


Dhaelena
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Currency and Exchange Act

 

In an additional effort to bolster the Dwarven Economy and lend prominence to the Grand Kingdom of Urguan, the kingdom has ratified the minting of an official Dwarven Currency, known as the Karzul.

 

Section I: The Value of Currency

 

Upon release, each Karzul shall hold a value equivalent to 5 mina, and will be available in a variety of denominations, for the convenience of the user, according to the following structure. 

 

1 Karzul Coin = 5 mina.

 

5 Karzul Coin = 25 mina.

 

10 Karzul Coin = 50 mina.

 

50 Karzul Coin = 250 mina.

 

100 Karzul Coin = 500 mina.

 

The standard exchange rate of the Karzul is liable to change with the currency’s progression.

 

Section II: The Minting of Money

 

The total amount of Karzul in circulation will not exceed an equivalent 100,000 mina value. Furthermore, the total value of each denomination of coin shall be, in total, 20,000 mina. Thus, the Kingdom shall mint the following coins in the following amounts.

 

1 Karzul Coin : 4,000 Coins to be Minted

 

5 Karzul Coin : 800 Coins to be Minted

 

10 Karzul Coin : 400 Coins to be Minted

 

50 Karzul Coin : 80 Coins to be Minted

 

100 Karzul Coin : 40 Coins to be Minted



 

Section III: The Use of the Karzul

 

With the implementation of the Karzul, it shall also be introduced as a standard payment for all matters regarding the government of Urguan. In short, the Karzul will now be used for:

 

Payment to Legionnaires 

 

Payments to the Worker’s Guild

 

Commissions from the Worker’s Guild
 

Any Purchases from the Government

 

Any Prizes awarded by the Urguani Government

 

Paying Taxes to the Kingdom

 

The amount for each tax as of the writing of this declaration are as follows:

Class A = 8 Karzul

Class B = 4 Karzul

Class C = 2 Karzul

Hefrumm = 4 Karzul or 2 Karzul and 2 Stacks of Processed Food

Shops = 6 Karzul

Stalls = 4 Karzul

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