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The first écu was a gold coin (the écu d'or) minted during the reign of Louis IX of France, in 1266. The value of the écu varied considerably over time, and silver coins (known as écu d'argent) were also introduced. Écu (from Latin scutum) means shield, and the coin was so called because its design included the coat of arms of France.
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The coinage of Philip IV of France (1268–1314, also known as "Philippe le Bel") marks the first mass diffusion of gold coinage in the Kingdom of France (before him, only his grandfather Saint Louis IX, had minted a few gold coins, the "Ecu"). Philip however had to resort extensively to monetary devaluations and reevaluations in order to ...
ECU may refer to: Currencies. European Currency Unit, precursor to the euro; Écu, French coins of the 13th–19th centuries; Technology. Electronic control unit;
The kings used the title "King of the Franks" (Latin: Rex Francorum) until the late twelfth century; the first to adopt the title of "King of France" (Latin: Rex Franciae; French: roi de France) was Philip II in 1190 (r. 1180–1223), after which the title "King of the Franks" gradually lost ground. [3]
Using a mechanism known as the "snake in the tunnel", the European Exchange Rate Mechanism was an attempt to minimize fluctuations between member state currencies—initially by managing the variance of each against its respective ECU reference rate—with the aim to achieve fixed ratios over time, and so enable the European Single Currency (which became known as the euro) to replace national ...
The livre was established by Charlemagne as a unit of account equal to one pound of silver. [citation needed] It was subdivided into 20 sous (also sols), each of 12 deniers.[citation needed] The word livre came from the Latin word libra, a Roman unit of weight and still the name of a pound in modern French, and the denier comes from the Roman denarius.
In France, the livre was worth 240 deniers (the "Tours penny"). These deniers were first minted by the abbey of Saint Martin, in the province of Touraine.Soon after Philip II of France seized the counties of Anjou and Touraine in 1203 and standardized the use of the livre tournois there, the livre tournois began to supersede the livre parisis (Paris pound) which had been up to that point the ...