Coinciding with the 6th anniversary of the creation of its Central Bank, the Democratic Republic of East Timor has put into circulation a new currency with a new face value, 200 cents, of bimetallic type, which completes its monetary cone in terms of coins are concerned.
The obverse shows Mount Matebian, the second highest mountain in East Timor, which served as a refuge for the resistance that fought against the Indonesian occupation. In the foreground appears a buffalo in a rice field, central element of the national culture and economy.
The reverse represents below the face value, 200 cents, a Kaibauk, traditional diadem used in the country.
characteristics
Face value: 200 cents (US $ 2)
Composition: Copper, Nickel (center) - Copper, nickel and zinc (ring)
Diameter: 25.5 mm
Weight: 8.46 g
Issuing volume: 6 million (over several years)
The official currency used in Timor is the US dollar. The fractional coins, the cents of dollar, are in charge of the government of the country that is in charge of that Mint of other countries coined them. Until now he had been in charge of the Mint of Portugal INCM, although the latter has been commissioned to the Royal Australian Mint.
The main reason for the circulation of this currency comes from the intention to replace the low-value tickets, 1, 5 and 10 dollars, which suppose a high cost due to its short life. The currency although it has a higher price of manufacture, the fact that they last a lot more make them in the long run a very good option for the economy of the country.
By law, the Government of Timor can not use the name of the dollar in its currency, so the denominations of 100 and 200 cents, although not tacitly specified, are, for all intents and purposes, $ 1 and $ 2 coins within the country.
Sursa: Youtube Utilizator: Banco Central de Timor-Leste
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