| Luziycan lira|
|ISO 4217 Code||LUL|
|Freq. used||1c, 5c, 10c, 25c, ₤1, ₤2|
|Freq. used||₤5, ₤10, ₤20, ₤50|
|Issuing authority||Central Bank of Luziyca|
The lira (symbol: ₤) is the currency of Luziyca and Phaonam, and has been unofficially used in Mazaristan since the start of the Mazari Civil War. Subdivided into 100 units known as senti in Luziycan, centesimi in Lombardian, öre in Swedish, and fen in Nantainese, it comprises of coins denominated in both senti and lira, as well as banknotes denominated in lira. The lira has been a free-floating fiat currency since 1956 when it abandoned the gold standard.
While the lira is nowhere as prevalent as the Aininian louré in international markets, due to Luziyca's historic colonial empire, its influence over the former Esquarian Union, combined with its large economy and macroeconomic stability, the lira has been perceived to be a secondary reserve currency.
In 1863, the lira (₤) was adopted, but until 1870, when the Central Bank of Luziyca was formed, Inleda, Bethlehem and Lombardia issued their own coins and notes, and functioned as tender. In 1870, the ability to mint liras were given to the Central Bank, and would define the lira as the official currency. To facilitate the unification of Luziyca, it was decided that one "united lira" would be worth 100 senti.
On March 25th, 1956, the lira ceased to use the gold standard and from that date became a fiat currency.
The lira banknotes issued by the Central Bank of Luziyca are legal tender in all nations that use the lira. However, commercial transactions may legally be settled in any manner agreed by the parties involved.
Legal tender of Luziycan coinage is governed by the Currency Act, 1919, which sets out limits of:
- ₤40 if the denomination is ₤2 or greater but does not exceed ₤10;
- ₤25 if the denomination is ₤1;
- ₤10 if the denomination is 10c or greater but less than ₤1;
- ₤5 if the denomination is 5c;
- 25c if the denomination is 1c.
Old coins can still be used, with any coins below 1 senti having a maximum of 25 senti. The 2c maximum is 2 lira, and the 20c maximum is ten lira. If they are cashed, they are sent to the Central Bank, where they are melted down.
Retailers in Luziyca may refuse bank notes without breaking the law. According to legal guidelines, the method of payment has to be mutually agreed upon by the parties involved with the transactions. For example, stores may refuse ₤100 bank notes if they feel that would put them at risk of being counterfeit victims; however, official policy suggests that the retailers should evaluate the impact of that approach. In the case that no mutually acceptable form of payment can be found for the tender, the parties involved should seek legal advice.
The coins of the lira come in denominations of 1c, 5c, 10c, 25c, 50c, ₤1, and ₤2. The coins have a common reverse, on which the value of coins is displayed, with the head of state, and the actual value in smaller font at the top. Each nation has its own design for the obverse, which is the same for all denominations, and consists of a national symbol in the center, with the state title written around it. Note that the years in parentheses are the current composition.
They all use coin orientation, unlike other currencies where they use medallic orientation.
|1c||Copper-plated steel||Huswa Varanken on a horse||President Stanley Azubah||19.05mm||1870|
|5c||Nickel-plated steel||Mountains||Pope Derghun II||21.2mm||1870 (1864 as one solidus coin)|
|10c||Cupro-nickel||A soldier||Giovanni Sciloh||18.03mm||1870 (1864 as two solidum coin)|
|25c||Cupro-nickel||Sailboat||Bald eagle||23.88mm||1870 (1864 as five soldium coin)|
|50c||Cupro-nickel||Coat of Arms of Luziyca||President William Bush||27.13mm||1870 (1864 as ten solidum coin)|
|₤1.00||Aluminum bronze||Loon||President Huswa Varanken||26.5mm||1987|
|₤2.00|| Ring: Nickel-plated steel
Center: Aluminum bronze, brass plating
|Congressional Palace||Incumbent president||28mm||1996|
Out of circulation (decimal)
Note all these coins are legal tender within Luziyca, but if cashed, they will be melted down. They include the "mil", worth 1/1000 of a lira, which are only used for gas prices. They also are coins that are retired and are not going to be issued again.
|1m||Tin||1 MIL||1 MIL||12.70mm||1870||1934|
|½c (5m)||Copper||½ SENTI||Latin Cross||25.4mm||1870||1934|
|2c||Copper||President Huswa Varanken||Coat of Arms||25.4mm||1870||1940|
|20c||Silver||Pine tree||Presidential Palace||30.00mm||1870||1875|
Until 1987 and 1996 respectively, there were ₤1 and ₤2 notes respectively, but since the introduction of coins, these have dwindled. Likewise, until 1934, there were ₤500 and ₤1,000 notes in circulation, and while all banknotes are still accepted, the ₤1, ₤2, ₤500, and ₤1,000 notes are to be destroyed and removed from circulation after being cashed. Currently, the circulating notes are five lira, ten lira, twenty lira, fifty lira, and one hundred lira.
|Header text||Obverse||Reverse||Introduced (current series)|