Kelssek thaler

Kelssek thaler
Subunit
1/100	Penny (English) Centime (French)
Plural	thalers
penny	pence
centime	centimes
Symbol	τ
Nicknames	Loonie, huard
Banknotes	τ5, τ10, τ20, τ50, τ100
Coins	1d, 5d, 10d, 25d, τ1, τ2
Official user(s)	Kelssek
Central bank	Bank of Kelssek
Printer	Note Printer Kelssek
Mint	Confederation Mint
Exchange rate	τ1 = USD 2.86

The thaler (symbol: τ; code: KET) is the currency of Kelssek. It is divided in 100 pence (written as d, which derives from the ancient denarius). The currency is issued and governed by the Bank of Kelssek, the country's central bank, and is commonly referred to as the "loonie" or "huard" in reference to the common loon depicted on the reverse of the 1-thaler coin.

The price of 2 thalers and 35 pence would be written τ2.35 (or τ2,35 in francophone regions), with just the penny sign (d) for prices less than τ1 (e.g. 20d for 20 pence). It is common to substitute an italic small T if the appropriate symbol is not typographically available ("t 2.35").

Under the Constitution of Kelssek, the federal Parliament has the authority over banking and the issue of money, but following confederation in 1886, money of the former Guedian Kingdom continued to circulate, while provinces such as Etnier and Konoha had established their own currencies at the time the crown had lost control of those territories during earlier phases of the revolution. There was hence a great deal of politicking and inertia before the thaler was established as the money of Kelssek when the Currency Unification Act became law in 1891, creating the Bank of Kelssek.

The thaler is currently a managed-float currency, with central bank intervention occurring to ensure the currency's exchange rate against a basket of relevant currencies is consistent with government macroeconomic goals. Historically, this has meant a slight undervaluation to boost export competitiveness.

Banknotes and coins

Coin denominations are 1d, 5d, 10d, 25d, τ1 and τ2. They are produced at the Confederation Mint in Clayquot. The current "Journey" series of banknotes was first introduced in the τ100 denomination in 2014, and fully replaced the previous "Monuments series" with the introduction of the τ5 note in 2017. The Journey series marked the switch from cotton-fibre to polymer banknotes, with features including a see-through window with a holographic national coat-of-arms and embossed Braille numerals.

Banknotes of the Kelssek thaler