RedenominationIn monetary economics, redenomination is the process of changing the face value of banknotes and coins in circulation. It may be done because inflation has made the currency unit so small that only large denominations of the currency are in circulation. In such cases the name of the currency may change or the original name may be used with a temporary qualifier such as "new". Redenomination may be done for other reasons such as changing over to a new currency such as the Euro or during decimalisation.
EurozoneThe euro area, commonly called the eurozone (EZ), is a currency union of 20 member states of the European Union (EU) that have adopted the euro (€) as their primary currency and sole legal tender, and have thus fully implemented EMU policies. The 20 eurozone members are: Austria, Belgium, Croatia, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia, and Spain.
Inflation targetingIn macroeconomics, inflation targeting is a monetary policy where a central bank follows an explicit target for the inflation rate for the medium-term and announces this inflation target to the public. The assumption is that the best that monetary policy can do to support long-term growth of the economy is to maintain price stability, and price stability is achieved by controlling inflation. The central bank uses interest rates as its main short-term monetary instrument.
Mehmed IIMehmed II (محمد ثانى; II. Mehmed, icinˈdʒi ˈmehmed; 30 March 1432 - 3 May 1481), commonly known as Mehmed the Conqueror (Ebū'l-fetḥ; Fâtih Sultan Mehmed), was an Ottoman sultan who ruled from August 1444 to September 1446 and then later from February 1451 to May 1481. In Mehmed II's first reign, he defeated the crusade led by John Hunyadi after the Hungarian incursions into his country broke the conditions of the truce per the Treaties of Edirne and Szeged.
Northern CyprusNorthern Cyprus, officially the Turkish Republic of Northern Cyprus (TRNC), is a de facto state that comprises the northeastern portion of the island of Cyprus. Recognised only by Turkey, Northern Cyprus is considered by the international community to be part of the Republic of Cyprus. Northern Cyprus extends from the tip of the Karpass Peninsula in the northeast to Morphou Bay, Cape Kormakitis and its westernmost point, the Kokkina exclave in the west. Its southernmost point is the village of Louroujina.
RumiJalāl al-Dīn Muḥammad Rūmī (جلالالدین محمد رومی), or simply Rumi (30 September 1207 – 17 December 1273), was a 13th-century poet, Hanafi faqih, Islamic scholar, Maturidi theologian and Sufi mystic originally from Greater Khorasan in Greater Iran. Rumi's works were written mostly in Persian, but occasionally he also used Turkish, Arabic and Greek in his verse. His Masnavi (Mathnawi), composed in Konya, is considered one of the greatest poems of the Persian language.
CurrencyA currency is a standardization of money in any form, in use or circulation as a medium of exchange, for example banknotes and coins. A more general definition is that a currency is a system of money in common use within a specific environment over time, especially for people in a nation state. Under this definition, the British Pound Sterling (£), euros (€), Japanese yen (¥), and U.S. dollars (US$) are examples of (government-issued) fiat currencies.
