Nominal-value definition

As on previous occasions, the great depreciation in the value of the currency has led to a repudiation of part of its nominal value.

The consequence of these further issues was instant depreciation, and the note of Too francs nominal value sank to less than 20 francs coin.

Partial relief was sought in the continual issue of debased currency (beshlik, altilik and their subdivisions), of which the excess of nominal value over intrinsic value ranged between 33 and 97%, and finally paper money (kaime) which was first issued in 1839, bearing an interest of 8%, reduced in 1842 to 6%, such interest being paid on notes of 500 piastres, but not on notes of 20 or 10 piastres, which were issued simultaneously.

The copper money was in pieces of a nominal value of 40, 20, TO, 5 and i paras, 40 paras being equal to 1 piastre.