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. Forex - FX

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

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

    The abbreviation for the British pound sterling, the official ...
  5. Euro

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

    A generally accepted form of money, including coins and paper ...
Related Articles
  1. Fundamental Analysis

    How Influential Economists Changed Our History

    Find out how these five groundbreaking thinkers laid our financial foundations.
  2. Forex Education

    The Impact Of Currency Conversions

    Will a rising or falling dollar hurt you or your company? In this article we explore the impact of currency converisons on consumers, comanies, and countries.
  3. Forex Education

    The New World Of Emerging Market Currencies

    Take advantage of foreign currency markets without stepping out of your house.
  4. Forex

    If a country's currency is determined by the strength of its economy, why isn't the U.S. dollar worth ...

    Generally speaking, when Country A's currency is worth more than that of Country B, it does not necessarily mean that Country A's economy is stronger than B's. For example, Japan's economy is ...
  5. Forex Education

    Forex Tutorial: The Forex Market

    In this online tutorial, beginners and experts alike can learn the ins and outs of the retail forex market.
  6. Investing Basics

    The Most Popular Bitcoin Mining Software

    Success at mining bitcoins depends on the combination of time, knowledge, computer hardware and the complementary software.
  7. Forex Education

    Who are cambrists and how do I become one?

    Discover what a cambrist is, why they are important to exchange markets and what skills you should possess if you are interested in becoming one.
  8. Trading Strategies

    Can forex currency pairs exhibit consolidation patterns?

    Learn how forex currency pairs exhibit recognizable consolidation patterns. These patterns offer traders the opportunity to place low-risk, high-reward trades.
  9. Forex

    Ways To Earn Bitcoins

    There are many ways to earn and own Bitcoins other than just buying them on a Bitcoin exchange.
  10. Investing Basics

    A Look At The Most Popular Bitcoin Exchanges

    The Bitcoin exchanges today claim to have learned from Mt. Gox and present themselves as advanced models with better security mechanisms in place.

You May Also Like

Hot Definitions
  1. Multinational Corporation - MNC

    A corporation that has its facilities and other assets in at least one country other than its home country. Such companies ...
  2. SWOT Analysis

    A tool that identifies the strengths, weaknesses, opportunities and threats of an organization. Specifically, SWOT is a basic, ...
  3. Simple Interest

    A quick method of calculating the interest charge on a loan. Simple interest is determined by multiplying the interest rate ...
  4. Special Administrative Region - SAR

    Unique geographical areas with a high degree of autonomy set up by the People's Republic of China. The Special Administrative ...
  5. Annual Percentage Rate - APR

    The annual rate that is charged for borrowing (or made by investing), expressed as a single percentage number that represents ...
  6. Free Carrier - FCA

    A trade term requiring the seller to deliver goods to a named airport, terminal, or other place where the carrier operates. ...
Trading Center