Punt

AAA

DEFINITION of 'Punt'

A unit of currency used in the Republic of Ireland until 2002. The punt was introduced in 1928 and was pegged (one for one) to the British pound sterling. In 1979, the peg was removed and the punt, now called the Irish pound, floated against the British pound. The punt was replace by the Euro in 2002.

INVESTOPEDIA EXPLAINS 'Punt'

One punt (represented by the symbol £) equaled 240 pence until 1969, when it was adjusted to equal 100 pence (one British pound). The euro was introduced on January 1, 2002, at which point Ireland adopted a dual currency with a fixed exchange rate. The Irish punt ceased to be legal tender on February 9, 2002.

RELATED TERMS
  1. Exchange Rate

    The price of a nation’s currency in terms of another currency. ...
  2. Currency

    A generally accepted form of money, including coins and paper ...
  3. Hard Money

    1. Funding by a government or organization that is repetitive, ...
  4. Forex - FX

    The market in which currencies are traded. The forex market is ...
  5. Money

    An officially-issued legal tender generally consisting of currency ...
  6. GBP

    The abbreviation for the British pound sterling, the official ...
Related Articles
  1. Fundamental Analysis

    How Influential Economists Changed Our ...

  2. Forex Education

    The Impact Of Currency Conversions

  3. Forex Education

    The New World Of Emerging Market Currencies

  4. Forex

    If a country's currency is determined ...

Hot Definitions
  1. Capitulation

    When investors give up any previous gains in stock price by selling equities in an effort to get out of the market and into ...
  2. Turkey

    Slang for an investment that yields disappointing results or turns out worse than expected. Failed business deals, securities ...
  3. Conduit Issuer

    An organization, usually a government agency, that issues municipal securities to raise capital for revenue-generating projects ...
  4. Financing Entity

    The party in a financing arrangement that provides money, property, or another asset to an intermediate entity or financed ...
  5. Hyperinflation

    Extremely rapid or out of control inflation. There is no precise numerical definition to hyperinflation. Hyperinflation is ...
  6. Gross Rate Of Return

    The total rate of return on an investment before the deduction of any fees or expenses. The gross rate of return is quoted ...
Trading Center