What backs your nation's currency?

[Kombinita Socialisma Demokratio]

The Spesmilo, although originally worth 1000 species of gold, is now pegged to the cost/standard of living. This way the same amount of money can support one just as well anywhere (although need is also put into consideration for scarce things such as living in certain areas).

[Diamond Snow]

Most people are paying in CryptoCurrency.

[Conservative Christian American States]

The dollar is backed by gold, as all legitimate currency should be.

[Orassa]

The Orassan rel is a fiat currency, although it is not officially traded on international currency markets. Exchange rates are set by the Commissariat of the Treasury, which uses an average of the world's most commonly traded currencies as well as the values of major trade goods, with the goal of keeping the rel stable.

In the past few decades, with the increasing prominence of electronic currency transfers and credit cards, the Orassan government has moved to establish greater control over the rel. All currency exchanges in Orassa are run by the Treasury, and there is an ongoing effort to eventually abolish physical coins and bills. Orassan cooperatives that engage in foreign trade usually maintain a balance of foreign currency, and the Orassan gray economy runs primarily on foreign currency.

[Naxera]

Basically like most currencies is a fiat currency. Although We have some precious metalls and hard currencies in our Central bank. Is the people, bussineses and foreign creditors faith that our currency it’s worth something.
Also a strict fiscal policy and an independent Central Bank centered on controlling Inflation and deflation and ACSN finantial support avoided our economy to ask for a default and are allowing us to avoid our debt becoming junk bonds.

[Vusotalia]

The currency of Vusotalia, historically, was the amount of gold equivalent to a sixteenth of the amount of blood lost that would kill an enemy, as there were frequent raids of the Triumvirate of Vusotalia in the medieval ages. Now the currency is equivalent to 0.1 US dollars in real life.

[Logikie]

our money by itself is meaningless, however people prefer this over a barter system so we just give everyone a standard living wage with everything affordable. inflation doesn't exist as there is no desire to hold imaginary wealth, our citizens understand that money is essentially meaningless but would prefer this style of socialism over any sort of confusion that might come with a barter system

[Neskaya]

Neskaya's currency, the Penya, is a fiat currency.

[Kowani]

The Kaoli was an archaic currency that was abolished upon the transfer to post scarcity economics.

[Libereco kaj Paco]

[deleted]

[A m e n r i a]

The Amenrian jibo is backed by diamonds. Why not gold? Because other planets use diamonds for interplanetary payments and we want to keep up with aliens.

[Estonland]

Fiat currency, strongly tied to the US Dollar albeit not pegged

[Jerbasa]

The Jerbasan dollar is a fiat currency as has always been so.

[Frenequesta]

The new sync is a fiat currency, and is so enshrined in the Freneq constitution.

[The Hell Legions]

Hell uses a digital currency that is representative, but not of a traditional object. Rather than be backed by precious metals, our currency is representative of a unit of electricity, and is even measured equivalently to said electricity. Electricity is measured in wattage, so we decided to make each denomination of the currency equal to a different wattage (e.g. watts, kilowatts, megawatts, etc.)

At the end of the day, nobody needs gold, but in an extremely digital multiverse where many things are connected and computers interface with everything, even magic, electricity is something everybody needs. A currency that is backed by electricity under the promise of the democratic socialist government was deemed most effective. And it makes paying power bills easy - pay the same as what you used. For the most part, it works out fine, though admittedly our nation is not like most nations.

[White Sun]

The Ryō is gold-silver backed; this practice is called bimetallism.

[Vecherd]

The currency of Vecherd is a fiat currency, however many banks will take your money for gold as many Vecherdians believes this system is superior but it is not mandated by law.

[Hakinda Herseyi Duymak istiyorum]

Science and Science

[Lunyya]

The Yen in Lunyya is backed by wood

[Silver Commonwealth]

Ministry of Economics

What backs the Commonwealth's currency?

''There are two main things, which back up the universal currency of the Commonwealth - Commonwealth's Dollar (Very similar to American dollar in value). Precious metals like gold, platinum, silver, and diamond are one of the main backers, along with having control of resources like oil, and gas. The second important backer is the trust in currency, as Silver Commonwealth is a world government (Albeit a very decentralized, and unstable one at that), which means, that at least on paper, you will be able to use Commonwealth's dollars everywhere in SC's world, even in the least developed regions. However, bringing one standard for an entire world is extremely difficult, so there are countless other, smaller currencies, which are pegged to the Commonwealth Dollar, which brings SC in a bit of a paradox - while many of its leaders officially praise regional autarky, in reality regions are tied between each other in a complex, fragile monetary web - if Commonwealth Dollar falls, the rest of currencies are going to fall down along with it as well, making economical crisis like The Great Depression look minuscule in comparison. Barter, and gift economy is theoretically a way around this, but few regions use it in official deals with other regions, and even then, it's not the primary means of deal - even if a lot of people in a region practice barter system, currency is still expected to be used, when interacting with outsiders. (There are also sub-categories of regional currencies, depending on their area of usage)''

''Some of the regional currencies are used only in one region, or even one autonomy, which means, that it needs to be exchanged to Commonwealth Dollars, or the local currency, if a person leaves the region. However, there are also currencies, which encompass multiple regions, and while they are still essentially pegged to the Commonwealth Dollar, you can still use it in more regions than just one. Perhaps the most successful of regional currencies is European Credit - it can be used in all of European Federation's member regions alongside with Commonwealth's dollar, and other regional European currencies. Some have described the European Credit as ''Commonwealth Dollar, but just localized to Europe, instead of the whole world''. However, despite the name similarities with labor credit (Or labor voucher), European Credits can still circulate, and be transferred between people, which means, that they can also be transmuted into capital, and be exchanged for means of production. Also, when a purchase is made, European Credits aren't destroyed, unlike labor vouchers. It also means, that monetary theft is still possible with European Credit. So, asides from the name, European Credit shares little similarity to the Labor Vouchers, and is rather more similar to the traditional monetary currency (SC actually doesn't use labor vouchers, they were mentioned just for sake of comparison). It also has an absence of coins, meaning, that an equivalent of one euro is the minimal possible value of credit, which means, that exchange rates, and prices are often rounded-up. Other Commonwealth's have tried a similar system, but so far, European Federation's system remains the most successful. (Another fun thing: European Credits look kind of similar to credit cards)''

[The Ross Isles]

The Ross Isles Pound is a fiat currency nowadays, though it was pegged to the British Pound Sterling until the early 1970s, which used the gold standard until 1931.

[Corunia and Mironor]

The Sentrose has been a fiat currency since 1932, when the gold standard was abandoned due to the Great Depression

[Shalotte]

Shalotte barter rings feature on no known international currency exchanges, and are not generally recognised outside of the isles. Attempts by economic experts to value them have not been favourable; some peg them as low as 222 rings to a single dollar, and others suggesting a much higher rate of 3,000 or more, but these estimates have been purely hypothetical. On the rare occasions when Shalotte needs to trade with the outside world - such as when the Gaeltyn procured a small, diesel-powered patrol boat for the Shalotte Slandérae - they have been forced to barter with goods rather than currency.

One of the Gaeltyn's primary duties is to regulate the value of the currency for the purposes of internal trade. As Shalotte is an agrarian society for the most part, its value is mostly supported by important agricultural products - at the moment, the value of rings is supported by barley. In this respect it is type of representative currency, though precisely what has underpinned its value has changed periodically over the years. Outside of major settlements and government activity, however, rings aren't commonly used, with simple bartering of like-for-like goods often taking place within rural communities instead.

[New Centrist Utopia]

My nation's currency (dollar) is backed by not only our gold, but also by our precious elements (mostly rubies and emeralds) mined from within our hundreds of beautiful caves in our northern counties. We are currently encouraging mining as a career choice for our young men, hopefully this will boost our economy in the coming years.

[Eurasian Socialist Soviet Republics]

The value of the Soviet ruble is set by political decision (usually being grossly overvalued) and it is nonconvertible unless a special convertible ruble is used.