Research revision 37 · 12 October 2026

Origins endure.
Monetary bases can change.

A currency can descend from one account system, then adopt another currency’s unit or exchange anchor. Step-parent links make those choices visible.

12adopted-basis relationships
400currency identities
349ancestry relationships
0step-parents counted as ancestry

Purple connectors and recipient diamonds identify step-parents. They attach at the adoption or witnessed date, never back at the currency’s origin. Open the map with step-parents →

All twelve adopted bases remain unchanged. This regional pass does not promote daily market exchange or tax collection rates into hard pegs.

Read the rules · Review decisions · Download revision 37 · Relationship data

The adopted bases

“Confirmed through” is an evidence boundary, not an ending. An unreviewed ending does not mean the arrangement remains in force today.

◇ unit adoption

French franc — 1795 to euro conversion → Tunisian franc

1891 · unit adoption event

Tunisia adopted the French franc unit in the implemented 1891 reform while replacing local piastre accounting.

French franc unit adopted; no universal cash-conversion ratio asserted.

Mechanism: Officially reported unit substitution and franc-denominated issues.

The piastre remains the local succession parent. No continuing peg duration is inferred.

Evidence and exact locators

C1959 · supported

S465 — Collections: Protectorate monetary system
Monnayage du Royaume de Tunisie sous le protectorat français, paragraphs 1–6 (web lines 241–247)
Reopened and read the institutional account of the 1891 replacement of the piastre by the French monetary unit.

Relationship R0399 · Does not contribute ancestry or depth.
◇ unit adoption

United States dollar → Guatemalan quetzal

1924–1925 · unit adoption event

Guatemala deliberately defined the quetzal equal to one US dollar and chose sixty pesos per quetzal using prior dollar exchange values.

1 GTQ = 1 USD at reform; 60 local pesos = 1 GTQ.

Mechanism: Monetary reform with implemented local peso conversion and subsequent quetzal issue.

Dollar value was explicitly selected; this is more than matching metal content. No ongoing peg or transfer of US debts is inferred.

Evidence and exact locators

C1960 · supported

S471 — Reseña histórica de la moneda de Guatemala
Reform paragraphs, web lines 273–276
Reopened reform account: deliberate dollar equivalence, sixty-peso conversion and subsequent issues.

Relationship R0411 · Does not contribute ancestry or depth.
◇ exchange rate anchor

Pound sterling → Hong Kong dollar

1935 introduction; postwar evidence 1946–1972

Hong Kong instituted a sterling anchor in 1935. Postwar tables document its continuation and 1967 parity change before the switch to USD.

Initially 16 HKD per GBP; 14.55 from 23 November 1967.

Mechanism: Exchange Fund and certificates backing banknote issue; postwar official parity regime.

Wartime operation and the exact pre-1972 break following sterling flotation are not fully resolved; do not read the outer dates as uninterrupted daily convertibility.

Evidence and exact locators

C1961 · supported

S453 — Monetary Systems in Hong Kong’s History
Printed pp.7 and 9; PDF indices 3 and 5
Read English sections on sterling linkage, the 1972–1974 dollar peg and the 1983 link.

S1019 — Exchange Value of the Hong Kong Dollar, Appendix 18
Part A, dated entries 18 December 1946 through 17 October 1983
Read the government table distinguishing sterling peg, revaluation, dollar peg and floating.

Relationship SP-V32-001 · Does not contribute ancestry or depth.
◇ exchange rate anchor

United States dollar → Hong Kong dollar

6 July 1972 – 26 November 1974

Hong Kong fixed its dollar to USD in July 1972, changed the parity in February 1973, and ended the commitment when it floated in November 1974.

5.65 HKD per USD initially; 5.085 from 14 February 1973.

Mechanism: Government undertaking to maintain the specified exchange rate.

Separate from the 1983 currency-board episode. No dollar anchor is drawn across the floating interval.

Earlier recorded anchor: SP-V32-001.

Evidence and exact locators

C1962 · supported

S1019 — Exchange Value of the Hong Kong Dollar, Appendix 18
Part A, dated entries 18 December 1946 through 17 October 1983
Read the government table distinguishing sterling peg, revaluation, dollar peg and floating.

Relationship SP-V32-002 · Does not contribute ancestry or depth.
◇ exchange rate anchor

United States dollar → Hong Kong dollar

17 October 1983; confirmed in the 2024 description

Hong Kong restored a USD link through its currency-board system in 1983; the inspected later description specifies a 7.75–7.85 exchange band.

1983 linked rate: 7.80 HKD per USD; later observed band: 7.75–7.85.

Mechanism: Currency-board note-issue mechanism and operational exchange band.

End not established in this review. The later band is not backdated to 1983.

Evidence and exact locators

C1963 · supported

S1019 — Exchange Value of the Hong Kong Dollar, Appendix 18
Part A, dated entries 18 December 1946 through 17 October 1983
Read the government table distinguishing sterling peg, revaluation, dollar peg and floating.

S54 — Linked Exchange Rate System
Opening paragraph; page last revised 27 June 2024
Read implementation date and operational currency-board band.

Relationship SP-V32-003 · Does not contribute ancestry or depth.
◇ exchange rate anchor

Pound sterling → British Caribbean / East Caribbean dollar

ECCA episode: 6 October 1965 – 7 July 1976

The ECCA episode used a sterling peg before the EC dollar’s 1976 switch to USD.

4.80 XCD per GBP.

Mechanism: ECCA currency management with a stated sterling peg.

The reviewed start is the ECCA issue witness. Earlier British Caribbean sterling links remain to be scoped; this does not create a 1965 currency identity.

Evidence and exact locators

C1964 · supported

S1020 — Your Finances, Your Future — June 2012
Printed p.5; PDF index 4, ECCA and 1976 paragraphs
Read the sterling peg at the 1965 issue and subsequent USD switch.

S1021 — Your Finances, Your Future — July 2009
Printed p.6; PDF index 5, The peg — 7 July 1976
Read switching date, both parities, reserve mechanism and cited Agreement articles 17(2), 24(2).

Relationship SP-V32-004 · Does not contribute ancestry or depth.
◇ exchange rate anchor

United States dollar → British Caribbean / East Caribbean dollar

7 July 1976; confirmed through July 2021

The East Caribbean dollar switched its anchor to USD on 7 July 1976; the ECCB confirmed the unchanged parity in 2021.

2.70 XCD per USD.

Mechanism: Fixed-rate monetary policy supported by pooled foreign reserves and the Council’s parity authority.

No new account identity; present status is not inferred from a 2021 release.

Earlier recorded anchor: SP-V32-004.

Evidence and exact locators

C1965 · supported

S1021 — Your Finances, Your Future — July 2009
Printed p.6; PDF index 5, The peg — 7 July 1976
Read switching date, both parities, reserve mechanism and cited Agreement articles 17(2), 24(2).

S1022 — 2021 Marks 45 Years of EC Dollar Peg to US Dollar
13 July 2021 release, opening three paragraphs
Read ECCB release confirming unchanged peg and reserve management through its publication.

Relationship SP-V32-005 · Does not contribute ancestry or depth.
◇ exchange rate anchor

United States dollar → Bermudian dollar

31 July 1972 introduction; ending unreviewed

Bermuda fixed its dollar at USD parity on 31 July 1972 under amended authority to define its external value beyond sterling.

1 BMD per USD.

Mechanism: Amended BMA statutory parity authority and implemented exchange-rate fixing.

Distinct from the February 1970 dollar introduction. No continuous-operation or current-status claim is added.

Evidence and exact locators

C1966 · supported

S202 — Bermuda Monetary Authority: Celebrating 50 Years — 20 February 2019 release
Single-page PDF, Bermuda Monetary Authority Act 1969 section
Read the 31 July 1972 peg and amended statutory basis, separately from the 1970 decimal conversion.

Relationship SP-V32-006 · Does not contribute ancestry or depth.
◇ exchange rate anchor

Euro — converging national replacements → CFA franc (BCEAO)

1 January 1999 · euro anchor introduced

XOF acquired an explicit euro anchor from 1 January 1999 under the continuing monetary cooperation arrangements.

655.957 XOF per EUR.

Mechanism: Continuing monetary cooperation arrangements with an explicitly published euro parity.

The two CFA units remain distinct. The earlier French-franc anchor is retained in evidence and awaits a separately dated operational record. Ending and current operation are not assessed here.

Evidence and exact locators

C1967 · supported

S381 — French Treasury — La Zone franc de 1939 à aujourd’hui
1998 and 1 January 1999 entries, web lines 73–74
Reopened official history: the cooperation arrangements continue with explicit euro parities.

Relationship SP-V32-007 · Does not contribute ancestry or depth.
◇ exchange rate anchor

Euro — converging national replacements → CFA franc (BEAC)

1 January 1999 · euro anchor introduced

XAF acquired an explicit euro anchor from 1 January 1999 under the continuing monetary cooperation arrangements.

655.957 XAF per EUR.

Mechanism: Continuing monetary cooperation arrangements with an explicitly published euro parity.

The two CFA units remain distinct. The earlier French-franc anchor is retained in evidence and awaits a separately dated operational record. Ending and current operation are not assessed here.

Evidence and exact locators

C1968 · supported

S381 — French Treasury — La Zone franc de 1939 à aujourd’hui
1998 and 1 January 1999 entries, web lines 73–74
Reopened official history: the cooperation arrangements continue with explicit euro parities.

Relationship SP-V32-008 · Does not contribute ancestry or depth.
◇ exchange rate anchor

Euro — converging national replacements → Comorian franc

1 January 1999 · euro anchor introduced

KMF acquired an explicit euro anchor from 1 January 1999 under the continuing monetary cooperation arrangements.

491.968 KMF per EUR.

Mechanism: Continuing monetary cooperation arrangements with an explicitly published euro parity.

The two CFA units remain distinct. The earlier French-franc anchor is retained in evidence and awaits a separately dated operational record. Ending and current operation are not assessed here.

Evidence and exact locators

C1969 · supported

S381 — French Treasury — La Zone franc de 1939 à aujourd’hui
1998 and 1 January 1999 entries, web lines 73–74
Reopened official history: the cooperation arrangements continue with explicit euro parities.

Relationship SP-V32-009 · Does not contribute ancestry or depth.
◇ unit adoption

Mughal rupee–dam accounting → Persian toman–dinar accounting — Ilkhanid and later traditions

1740 · qualified unit adoption event

Nader Shah’s implemented 1740 reform deliberately aligned Iranian rupee/naderi reckoning with Indian rupees and set one silver toman equal to 20 silver rupees. Record a qualified unit-adoption event, preserving Iranian ancestry; no continuing market peg is inferred.

1 Iranian silver toman = 20 silver rupees in the reform.

Mechanism: Accounting orders and replacement rupee/naderi issues explicitly aligned to the Indian rupee; supported by VOC and EIC reports reproduced in scholarship.

Qualified donor association and implementation scope. Commerce remained heavily copper-based. This is an adoption event, not a claim of enduring market parity or uniform compliance.

Evidence and exact locators

C2012 · qualified

S1038 — The Monetary History of Iran: From the Safavids to the Qajars (2013)
pp. 20–22 (notes 50–55), 159–160 (notes 77–80)
Scholarly book OCR mirror; cited VOC/EIC orders and travel accounts inspected as reproduced, not archival originals.

Relationship SP-V35-001 · Does not contribute ancestry or depth.

Admission rules

Deliberate, implemented adoption of another currency as a unit model or exchange-rate anchor, without replacing documented historical ancestry.

  1. A named currency is deliberately selected; numerical coincidence is insufficient.
  2. The rule governs the principal account unit or general monetary regime; limited sectoral scope must be explicit.
  3. Implementation is evidenced by operative account definitions, conversion of obligations, issuance, redemption or intervention arrangements.
  4. Evidence supports the precise subtype; initial equality does not prove a continuing peg.
  5. Effective dates, observation dates, ratios, bands, mechanisms, endings and gaps are distinguished.
SubtypeMeaning
unit adoptionDated adoption or redefinition of a principal account unit by explicit reference to another currency; no continuing peg inferred.
exchange rate anchorDocumented standing parity commitment with an operational monetary mechanism; dates, changes and limitations required.

False-positive exclusions

Identity, kinship and time

Do not create a currency node for a peg, rescaling or change of monetary basis. A separately established new unit is adjudicated under the existing identity policy.

Keep founding ancestry. No transitive step-parent inheritance, sibling/cousin derivation, or automatic anchor succession. Co-anchoring requires overlapping evidenced periods and is not genealogical kinship.

Exclude every adopted-basis edge and its event dates from ancestry traversal, origin dates, predecessor coverage and all strict/qualified/optional depth metrics.

A unit adoption is an event. An anchor is a regime with dated observations and changes. Unknown end does not mean current. A switch closes the earlier anchor only where evidenced. Legal commitment and actual operation may differ.

Record a basket as a structured reference, never an invented currency or several unqualified bilateral parents. No basket is admitted in this revision.

Hard pegs and currency boards qualify when the specific commitment and implementation are established. A broad adjustable band, crawling rate, basket or observed market stability is recorded separately unless its precise arrangement meets these tests. A foreign currency replacing the local unit is still assessed under succession or absorption rules.

Retained revision32 context-link decisions

Held means the evidence needs a more precise unit, mechanism, implementation date or scope. It does not mean the historical relationship is disproved.

Prior linkDecisionReason
French franc — 1795 to euro conversion → Tunisian franc
R0399
admittedReclassified with preserved ID; new claim and independent source review establish deliberate unit adoption.
Pound sterling → British Honduras / Belize dollar
R0404
heldSterling coin circulation and earlier ratings do not establish the operational sterling anchor for the scoped Belize unit. Inspect the later Belize peg legislation separately.
United States dollar → Guatemalan quetzal
R0411
admittedReclassified with preserved ID; new claim and independent source review establish deliberate unit adoption.
United States dollar → Panamanian balboa
R0413
heldThe 1904 US-gold legal-tender equivalence is preserved. Inspect the operative account definition and implementation before treating it as adopted-unit reference or sustained anchor.
United States dollar → Nicaraguan córdoba — 1912 unit, including 1988 scale
R0416
heldLocal peso conversion is established; retained evidence does not yet specify enough about deliberate USD-unit adoption or operational parity to assign a step-parent.
United States dollar → Philippine peso, twentieth-century reform lineage
R0414
held1903 gold-peso definition and US-gold tender rule are promising; commencement depended on coin supply. Resolve implementation before admitting a dated step-parent.
Cambodian riel before abolition → Cambodian riel
R-V23-015
excludedRestoring a currency name does not adopt an external unit or exchange anchor.
German mark — 1871–1948 continuity → Estonian interwar currency — mark and kroon
R0267
heldThe named reference is the Ostmark, while the current endpoint is a broader German mark profile. Resolve the reference-unit mapping and implemented account definition.
French franc — 1795 to euro conversion → Swiss franc
R0239
heldFrench silver standard adoption alone does not establish adoption of the principal account unit under the new test. Inspect the Swiss enactment and account conversion.
French franc — 1795 to euro conversion → Belgian franc
R0240
heldRetained evidence concerns the French decimal silver standard. Inspect operative account-unit clauses rather than promoting metal or subdivision alignment.
Spanish real / peso de a ocho → Greek phoenix
R0306
heldOne-sixth Spanish-dollar valuation alone is insufficient to distinguish a designed account-unit adoption from an equivalence quotation.
Spanish real / peso de a ocho → Hong Kong dollar
R0375
heldLocal silver issues and circulating imported dollars do not identify the precise unit-adoption event. Later HK anchors are independently admitted.
Pound sterling → British Caribbean / East Caribbean dollar
R0401
heldThe early 1825–1850 coin-rating record remains contextual. The separately evidenced 1965–1976 anchor episode does not retroactively validate this earlier interval.
Frankish denier–livre reckoning → Pound sterling
CTX-V29-014
excludedTransmission of shilling subdivisions does not adopt the principal monetary unit or establish an exchange anchor.
Frankish denier–livre reckoning → Portuguese dinheiro–soldo–libra accounting
CTX-V31-015
excludedImported libra reckoning adds a scale; the Frankish node is a tradition rather than an identified contemporary reference currency.
Barcelona diner–sou–lliura accounting → Spanish peseta
CTX-V31-016
excludedA surviving rent with a peseta equivalent is an individual contractual valuation, not a general monetary adoption.

Further review

The retained evidence also contains 63 keyword-discovered claim candidates. These include duplicate observations, institutions and conversion evidence; their number is not a count of missing currencies or step-parents. Read the queue and access limitations →

Previous Iberian research, revision 31 →