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. Euro

    The official currency of the European Union's (EU) member states. ...
  3. Currency

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

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

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

    An officially-issued legal tender generally consisting of currency ...
Related Articles
  1. The Impact Of Currency Conversions
    Forex Education

    The Impact Of Currency Conversions

  2. How Influential Economists Changed Our ...
    Fundamental Analysis

    How Influential Economists Changed Our ...

  3. The New World Of Emerging Market Currencies
    Forex Education

    The New World Of Emerging Market Currencies

  4. If a country's currency is determined ...
    Forex

    If a country's currency is determined ...

comments powered by Disqus
Hot Definitions
  1. Debit Spread

    Two options with different market prices that an investor trades on the same underlying security. The higher priced option ...
  2. Odious Debt

    Money borrowed by one country from another country and then misappropriated by national rulers. A nation's debt becomes odious ...
  3. Takeover

    A corporate action where an acquiring company makes a bid for an acquiree. If the target company is publicly traded, the ...
  4. Harvest Strategy

    A strategy in which investment in a particular line of business is reduced or eliminated because the revenue brought in by ...
  5. Stop-Limit Order

    An order placed with a broker that combines the features of stop order with those of a limit order. A stop-limit order will ...
  6. Pareto Principle

    A principle, named after economist Vilfredo Pareto, that specifies an unequal relationship between inputs and outputs. The ...
Trading Center