National Currency Act has been approved by Legislative Assembly

National Currency is now established

The Legislative Assembly of Inocria is pleased to announce the approval of the Currency Establishment Act, which establishes the official currency of the Republic of Inocria, known as the "Inocrian Zylar" (symbol: ʒ). This act aims to promote economic growth, trade, and financial stability within our nation.

Key Provisions of the Currency Establishment Act:

• Official Currency: The Inocrian Zylar (ǯ) will be subdivided into smaller units, with one Zylar equal to 100 Zentari (ʒ).
• Central Authority: The Central Republican Bank will be established to manage the issuance, regulation, and oversight of the Inocrian Zylar. This central bank will implement monetary policy, regulate financial institutions, and maintain currency stability.
• Legal Tender Status: The Inocrian Zylar will be recognized as legal tender for all transactions within the Republic of Inocria. Existing currencies, including the Russian Ruble, and Ukrainian Hryvnia will retain legal tender status until December 31, 2029, facilitating a smooth transition. Belorussian Ruble has also been recognized as a legal tender until December 31, 2025.
• Transition Period: A six-year transition period will allow for the gradual introduction of the Inocrian Zylar, during which existing currencies can be exchanged. A public awareness campaign will be conducted to educate citizens about the new currency and the exchange process.

The Inocrian Zylar will feature a range of denominations from 1 to 1000, each symbolizing different values and attributes, from light green for new beginnings to gold for high value and prestige.
This act takes effect immediately upon adoption, marking a significant step towards enhancing economic confidence and supporting the welfare of our citizens.

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