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by The Austria of New Chilokver. . 146 reads.

OSEAN - Economics (WIP)

OSEAN | Economics

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The OSEAN Standard Unit

The OSEAN Standard Unit (OSU; ₴) is the official currency of OSEAN. Though its adoption by OSEAN members in lieu of national currencies is not mandated by the Organisation, member nations of the OSEAN Standard Cooperation Area (OSCA) back and exclusively utilise the OSU for all trade between OSCA members. The currency was first introduced on the 10th of July 2018 with the founding of OSEAN, and was formally recognised as the Organisation's legal tender with the ratification of the revised OSEAN Charter on the 10th of August 2019. The OSU is divided into 100 cents (˘) per OSU, and may be further sub-divided into 1000 mills (₥) per OSU for accounting purposes.

Banknotes* of the OSEAN Standard Unit; ranging from ₴5 to ₴50 OSU.

The OSU is issued by the OSEAN International Bank (OIB), headquartered in Beaver Dam, Waupun Island, and minted under strict quotas by select national mints of OSEAN members. Coinage of the OSU is issued in denominations of ₴2, ₴1, 50˘, 20˘, 10˘, 5˘, 2˘, and 1˘, while banknotes are issued in denominations of ₴5, ₴10, ₴20, ₴50, and ₴100 OSU. The design of the OSU’s physical tender is intended to be easily distinguishable to the visually impaired—both the coinage and banknotes were designed with tactile features that enable them to be distinguished by touch alone. Additionally, all OSU bills are printed on long-lasting polymer banknotes with sophisticated anti-counterfeiting measures which make them resistant to widespread counterfeiting.

Owing to the OSEAN Standard Unit's extremely stable value, the OSU is widely traded by nations outside of as well as within the OSCA and is currently the currency traded most by international exchanges. As of June 2020, the OSEAN Standard Unit had the highest combined values of banknotes and coins in circulation in the world with over 1.6 trillion OSU in circulation. Due to its aforementioned high usage in international transactions, the OSU serves as Strangereal's primary reserve currency and is considered Strangereal’s de facto universal currency against which the exchange rates of other national currencies can be pegged.


*Credits to Paxiosolange for the designs of the OSEAN banknotes.



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The Austria of New Chilokver

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