Damillo

From IxWiki
Revision as of 13:48, 10 July 2023 by Puertego (talk | contribs) (Created page with "{{Infobox currency | currency_name_in_local = Damillo | image_1 = | alt1 = | image_title_1 = | iso_code = PDM | iso_number = 818 | subunit_name_1 = N/A | plural = Damillo | symbol = Đ | nickname = | frequently_used_banknotes = 1,000, 2,000, 5,000, 10,000, 20,000, 50,000, 100,000, 200,000, 500,000 | rarely_used_banknotes = Anything under 1,000 | frequently_used_coins = N/A | rarely_used_coins = N/A | subunit_ratio_1 = N/A | plural_subunit_1 = | symbol_subunit_1 = |...")
(diff) ← Older revision | Latest revision (diff) | Newer revision → (diff)
Jump to navigation Jump to search
Damillo
Damillo
ISO 4217
CodePDM
Number818
Denominations
Subunit
 N/AN/A
PluralDamillo
SymbolĐ
Banknotes
 Freq. used1,000, 2,000, 5,000, 10,000, 20,000, 50,000, 100,000, 200,000, 500,000
 Rarely usedAnything under 1,000
Coins
 Freq. usedN/A
 Rarely usedN/A
Demographics
Date of introductionJanuary 4th, 1998
User(s) Puertego
Issuance
Central bankCentral Bank of Puertego
 Websitewww.bcp.pt
Valuation
Inflation12.5%
 SourceThe World Factbook, 2010 est.

The damillo (sign: Đ; code: PDM) is the official currency of Puertego since January 4th, 1998 and the tenth currency the country has been through in its history. The damillo is issued by the Central Bank of Puertego. The damillo holds the distinction of being the lowest valued currency in the world with $1 equaling Đ22,000.

History

The damillo was adopted shortly after the victory of the Puertgan White Flag Communist party in the Puertegan White Flag Revolution with it replacing the Puertegan mok as the official currency. During Sanhueza's presidency inflation spiked sharply with it being as high as 810% at its highest this along with high tariffs on foreign products created an economic crisis in the nation so severe there was almost a civil war however after the reforms of president Torres have stabilized inflation rates the history of this is still felt in the value of the damillo.

Banknotes

Front Back Value Dimensions
1,000 144 × 65 mm
2,000 144 × 65 mm
5,000 144 × 65 mm
10,000 144 × 65 mm
20,000 144 × 65 mm
50,000 144 × 65 mm
100,000 144 × 65 mm
200,000 144 × 65 mm
500,000 144 × 65 mm

Monetary Policy

The damillo is currently printed and issued by the state run Central Bank of Puertego with monetary policy dictated by the government. In 2020-2030 the government devalued the damillo 4 times in order to spur exports in the country. The government has instituted multiple economic reforms to control inflation of the damillo with the currencies current inflation being 12.5% though with this number going down by an estimated 3.3% annually.