Piastre
Encyclopedia
Pieces of Eight
Pieces of Eight is the eighth studio album and second concept album by Styx, released September 1, 1978.The album was the band's follow-up to their Triple Platinum selling The Grand Illusion album....
, or pesos, by Venetian
Venice
Venice is a city in northern Italy which is renowned for the beauty of its setting, its architecture and its artworks. It is the capital of the Veneto region...
traders in the Levant
Levant
The Levant or ) is the geographic region and culture zone of the "eastern Mediterranean littoral between Anatolia and Egypt" . The Levant includes most of modern Lebanon, Syria, Jordan, Israel, the Palestinian territories, and sometimes parts of Turkey and Iraq, and corresponds roughly to the...
in the 16th century.
These pesos, minted continually for centuries, were readily accepted by traders in many parts of the world. After the countries of Latin America had gained independence, pesos of Mexico began flowing in through the trade routes, and became prolific in the Far East
Far East
The Far East is an English term mostly describing East Asia and Southeast Asia, with South Asia sometimes also included for economic and cultural reasons.The term came into use in European geopolitical discourse in the 19th century,...
, taking the place of the Spanish pieces of eight
Pieces of Eight
Pieces of Eight is the eighth studio album and second concept album by Styx, released September 1, 1978.The album was the band's follow-up to their Triple Platinum selling The Grand Illusion album....
which had been introduced by the Spanish at Manila
Manila
Manila is the capital of the Philippines. It is one of the sixteen cities forming Metro Manila.Manila is located on the eastern shores of Manila Bay and is bordered by Navotas and Caloocan to the north, Quezon City to the northeast, San Juan and Mandaluyong to the east, Makati on the southeast,...
, and by the Portuguese
Portuguese people
The Portuguese are a nation and ethnic group native to the country of Portugal, in the west of the Iberian peninsula of south-west Europe. Their language is Portuguese, and Roman Catholicism is the predominant religion....
at Malacca
Malacca
Malacca , dubbed The Historic State or Negeri Bersejarah among locals) is the third smallest Malaysian state, after Perlis and Penang. It is located in the southern region of the Malay Peninsula, on the Straits of Malacca. It borders Negeri Sembilan to the north and the state of Johor to the south...
. When the French colonised Indochina, they began issuing the new piastre de commerce, which was equal in value to the familiar Spanish and Mexican Peso
Mexican peso
The peso is the currency of Mexico. Modern peso and dollar currencies have a common origin in the 15th–19th century Spanish dollar, most continuing to use its sign, "$". The Mexican peso is the 12th most traded currency in the world, the third most traded in the Americas, and by far the most...
s.
In the Ottoman Empire
Ottoman Empire
The Ottoman EmpireIt was usually referred to as the "Ottoman Empire", the "Turkish Empire", the "Ottoman Caliphate" or more commonly "Turkey" by its contemporaries...
, successive currency reforms had reduced the value of the Ottoman piastre by the late 19th century so as to be worth about two pence (2d) sterling
Sterling
Sterling may refer to:* Sterling silver, a grade of silver* Pound sterling, the currency of the United Kingdom- Businesses :* Hotel Sterling, a former hotel in Wilkes-Barre, Pennsylvania, United States* Sterling Airlines...
. Hence the name piastre referred to two distinct kinds of coins in two distinct parts of the world, both of which had descended from the Spanish pieces of eight
Pieces of Eight
Pieces of Eight is the eighth studio album and second concept album by Styx, released September 1, 1978.The album was the band's follow-up to their Triple Platinum selling The Grand Illusion album....
.
Because of the debased values of the piastres in the Middle East
Middle East
The Middle East is a region that encompasses Western Asia and Northern Africa. It is often used as a synonym for Near East, in opposition to Far East...
, these piastres became subsidiary units for the Turkish
Turkish lira
The Turkish lira is the currency of Turkey and the de facto independent state of the Turkish Republic of Northern Cyprus. The lira is subdivided into 100 kuruş...
, Cypriot
Cypriot pound
The pound, also known as the lira , was the currency of Cyprus, including the Sovereign Base Areas in Akrotiri and Dhekelia, until 31 December 2007, when the Republic of Cyprus adopted the euro...
, and Egyptian
Egyptian pound
The Egyptian Pound is the currency of Egypt. It is divided into 100 Qirsh , or 1,000 Milliemes ....
pounds. Meanwhile, in Indo-China, the piastre continued into the 1950s and was subsequently renamed the riel
Cambodian riel
For earlier Cambodian currencies, see Cambodian tical and Cambodian franc.The riel is the currency of Cambodia. There have been two distinct riel, the first issued between 1953 and May 1975. Between 1975 and 1980, the country had no monetary system. A second currency, also named "riel", has been...
, the kip
Lao kip
The kip "Currency Lao Kip") is the currency of Laos since 1952. One kip is divided into 100 att . The official name is: ເງີນກີບລາວ, lit. Other languages say: ; code: LAK; sign: ' or ', encoded .-Free Lao Kip:...
, and the dong in Cambodia
Cambodia
Cambodia , officially known as the Kingdom of Cambodia, is a country located in the southern portion of the Indochina Peninsula in Southeast Asia...
, Laos
Laos
Laos Lao: ສາທາລະນະລັດ ປະຊາທິປະໄຕ ປະຊາຊົນລາວ Sathalanalat Paxathipatai Paxaxon Lao, officially the Lao People's Democratic Republic, is a landlocked country in Southeast Asia, bordered by Burma and China to the northwest, Vietnam to the east, Cambodia to the south and Thailand to the west...
, and Vietnam
Vietnam
Vietnam – sometimes spelled Viet Nam , officially the Socialist Republic of Vietnam – is the easternmost country on the Indochina Peninsula in Southeast Asia. It is bordered by China to the north, Laos to the northwest, Cambodia to the southwest, and the South China Sea –...
respectively.
As a sub-unit
- 1/100 of the Egyptian poundEgyptian poundThe Egyptian Pound is the currency of Egypt. It is divided into 100 Qirsh , or 1,000 Milliemes ....
- 1/100 of the Jordanian dinarJordanian dinarThe dinar is the currency of Jordan. The dinar is divided into 10 dirham, 100 qirsh or 1000 fils....
- 1/100 of the Lebanese poundLebanese poundThe Lebanese pound is the currency unit of Lebanon. It is divided into 100 piastres but inflation has eliminated the subdivisions....
- 1/100 of the Libyan poundLibyan poundThe Libyan pound was the currency of Libya between 1951 and 1971. The pound was divided into 100 piastres and 1000 milliemes .- History :...
- 1/100 of the South Sudanese poundSouth Sudanese poundThe South Sudanese pound is the official currency of the Republic of South Sudan. It is subdivided into 100 piastres. It was approved by the Southern Sudan Legislative Assembly prior to secession on 9 July 2011 from Sudan...
- 1/100 of the Sudanese poundSudanese poundThe Sudanese pound is the currency of Sudan and also used in South Sudan until finalization of the introduction of the South Sudanese pound. Both Arabic and English names for the denominations appear on the country's banknotes and coins. On 24 July 2011, Sudan launched a new currency...
- 1/100 of the Syrian poundSyrian pound-Use of 10 Syrian pound coins in Norway:The shape of the 10 Syrian pound coin has been found to so resemble the 20 Norwegian krone coin that it can fool vending machines, coins-to-cash machines, arcade machines, and any other coin-operated, automated service machine in the country...
- 1/180 of the Cypriot poundCypriot poundThe pound, also known as the lira , was the currency of Cyprus, including the Sovereign Base Areas in Akrotiri and Dhekelia, until 31 December 2007, when the Republic of Cyprus adopted the euro...
Informal usage
- Early private bank currency issues in French-speakingCanadian FrenchCanadian French is an umbrella term referring to the varieties of French spoken in Canada. French is the mother tongue of nearly seven million Canadians, a figure constituting roughly 22% of the national population. At the federal level it has co-official status alongside English...
regions of CanadaCanadaCanada is a North American country consisting of ten provinces and three territories. Located in the northern part of the continent, it extends from the Atlantic Ocean in the east to the Pacific Ocean in the west, and northward into the Arctic Ocean...
were denominated in piastres. The term is still unofficially used in QuebecQuebec FrenchQuebec French , or Québécois French, is the predominant variety of the French language in Canada, in its formal and informal registers. Quebec French is used in everyday communication, as well as in education, the media, and government....
, AcadianAcadian FrenchAcadian French , is a regionalized dialect of Canadian French. It is spoken by the francophone population of the Canadian province of New Brunswick, by small minorities in areas in the Gaspé region of eastern Quebec, by small groups of francophones in Prince Edward Island, in several tiny pockets...
and Franco-OntarianFranco-OntarianFranco-Ontarians are French Canadian or francophone residents of the Canadian province of Ontario. They are sometimes known as "Ontarois"....
slang as a reference to the Canadian dollarCanadian dollarThe Canadian dollar is the currency of Canada. As of 2007, the Canadian dollar is the 7th most traded currency in the world. It is abbreviated with the dollar sign $, or C$ to distinguish it from other dollar-denominated currencies...
(the official French term for the modern Canadian dollar is dollar). When used colloquially in this way, the term is often pronounced and spelled "piasse" (pl. "piasses"). - Piastre was also the original French word for the United StatesUnited StatesThe United States of America is a federal constitutional republic comprising fifty states and a federal district...
dollar, used for example in the French text of the Louisiana PurchaseLouisiana PurchaseThe Louisiana Purchase was the acquisition by the United States of America of of France's claim to the territory of Louisiana in 1803. The U.S...
. Calling the US dollar a piastre is still common in Cajun FrenchCajun FrenchCajun French is a variety or dialects of the French language spoken primarily in Louisiana, specifically in the southern and southwestern parishes....
. Modern French uses dollar for this unit of currency as well. The term is still used as slang for US dollars in the French-speaking Caribbean islands, most notably Haiti. - Piastre is another name for kuruşKurusKuruş is a Turkish currency subunit. Since 2005, one new Turkish lira is equal to 100 kuruş. The kuruş was also the standard unit of currency in the Ottoman Empire until 1844, and from that date until the late 1970s was a subdivision of the former lira. It was subdivided into 40 para , each of...
, 1/100 of the Turkish new liraTurkish new liraThe new Turkish lira was the currency of Turkey and the de facto independent state of the Turkish Republic of Northern Cyprus between 1 January 2005 and 1 January 2009 which was a transition period for the removal of six zeroes from the currency. The new lira was subdivided into 100 new kurush...
, as well as the old liraTurkish liraThe Turkish lira is the currency of Turkey and the de facto independent state of the Turkish Republic of Northern Cyprus. The lira is subdivided into 100 kuruş...
. - The piastre is still used in MauritiusMauritiusMauritius , officially the Republic of Mauritius is an island nation off the southeast coast of the African continent in the southwest Indian Ocean, about east of Madagascar...
when bidding in auction sales, similarly to the way that guineasGuinea (British coin)The guinea is a coin that was minted in the Kingdom of England and later in the Kingdom of Great Britain and the United Kingdom between 1663 and 1813...
are used at racehorse auctions. It is equivalent to 2 rupees. - The term piastre is used in the game Resort World on FacebookFacebookFacebook is a social networking service and website launched in February 2004, operated and privately owned by Facebook, Inc. , Facebook has more than 800 million active users. Users must register before using the site, after which they may create a personal profile, add other users as...
. It is a currency earned by players to use towards buildings and upgrades in the game.