Piaster

Piaster, also spelled piastre or piaster, is a historical currency term used in several countries during the 19th and 20th centuries. In many cases it functioned as the main unit of currency, while in others it was a subdivision of a larger unit, commonly valued at 1/100 of a base currency. The exact value and subunit structure varied by country and era, reflecting local monetary reforms and colonial influences.

Etymology and spread: The term derives from the French piastre, which circulated widely in European-held markets and colonial contexts. Through French, Italian, and Turkish linguistic influences, the word was adopted by various non-European currencies, often to denote a standard monetary unit or a subdivision with roughly similar purchasing power to other “centesimals.”

Regional usage and examples: In some Arabic-speaking regions, piaster served as the subdivision of the local pound or lira, with 100 piasters equaling 1 unit of account. In Southeast Asia under French influence, the piastre was the currency of French Indochina and remained in use into the mid-20th century, before being replaced by newer currencies in Vietnam, Laos, and Cambodia. Across these contexts, the piastre/piaster generally appeared on coins and banknotes issued by local governments or colonial authorities.

Current status: Today, the piastre is largely obsolete as a primary currency unit. Some regions continue to use piaster as a historical term or as a subdivision of their current currency, while others have replaced it entirely with newer monetary units. The concept remains of interest primarily for historical and numismatic purposes.