Currencies (Cromwell the Great)

Currencies are divided in decimal and non-decimal ones. Non decimal currencies were the norm before the French revolution, along local and regional currencies of non equal value. In modern times all European currencies switched to a single national decimal currency.

Decimal currencies have sub-units based on a factor of 10. There are most commonly 100 sub-units to the base currency unit. This system is the one followed in all continental Europe. Being the first one Russia with 1 ruble being equal to 100 kopeks. this was later followed during the French Revolution by the French franc, 1 franc = 100 centimes or cents, later adopted in all of Europe.

Notable changes were the Dutch guilder decimalised to 1 guilder=100 centen, instead of 1 guilder=20 stuivers = 160 duits = 320 penningen. The Iberian maravedí as the replacement of the Spanish peseta and Portuguese escudo on the unification of the Iberian peninsula. Initially the maravedí was used as a unit of account for calculating the currency conversion of pesetas and escudos, later it became a physical currency.

The most commonly used and major non decimal system is the British pound sterling or £sd system. Under this system, there are 12 pence (p) in a shilling (s) and 20 shillings, or 240 pence, in a pound (£). More fully: 1 pound (£) = 20 shillings (s) = 240 pence (d) = 960 farthings. Also in the Ottoman Empire: 1 kuruş or piastre = 40 para = 120 akçe.