Chyen

Chyen is the currency of Withmore City, established in 2048 under the Corporate Council's Withmore Currency Act. Its introduction replaced the US Dollar in response largely to that currency's extreme fluctuations in value.

Notes and Payments

Chyen notes come in different denominations and are issued by various corporations. A stack may contain notes from several issuers; their corporate origin does not change their face value. Common names for the currency include "chy," "flash," and "credits."

Alongside cash, residents use bank accounts and electronic payments. Credchips available from Withmore Savings Bank provide access to bank funds for purchases and transfers to other credchip users.

Introduction and Early Decline

The Corporate Council debated the Currency Act during 2047 and passed it by a large majority that December. Preparations included authorizing the production of billions of units of the new currency. The Act was formally signed into law in January 2048, and residents exchanged their US Dollars for chyen.

The initial exchange rate was one chyen to one US Dollar. That parity did not last. In June 2048, doubts about the young city-state's stability, reinforced by reports of rising crime and violence, prompted international holders to sell their chyen reserves. Its value quickly fell to roughly half its starting level.