Laeralian mark

The Laeralian mark (Code: LRM, Symbol: 分, French: Marque Laeralien, Mandarin: Sīchóuguó fēn) is the official currency of Laeral. The basic unit of the currency is the mark, which is divided into 100 fen, or cents. The current Laeralian mark replaced the old or "Republican" mark in 1974 at a rate of 1000 to one due to hyperinflation following the Great War.

History

The old or Republican mark was instituted in 1924 by the Republic of Laeral, replacing the Laeralian florin. Following the Great War, the hyperinflation of the Republican Mark and the desire to move away from institutions of the Republican Era led to the issuance of the new Laeralian mark on January 1, 1974 at a rate of 1000:1 with the old Republican Mark. Subsequent, more fiscally-conservative governments and the institution of market-based economic reforms have resulted in low inflation and a positive balance-of-payments, strengthening the mark compared to reserve currencies such as the Sanctarian Pound. The exchange rate compared to the NSD reserve currency has fluctuated from around 20 to one in the 1970s to around 1.20 to one as of October 2022.