Galactic Credit

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The Galactic Credit, or just Credit in short (coloquially also Republic Dataries) [1], is the universally accepted unit of currency within the Galaxy. It is accepted by nearly everyone in every sector. Its only important competitor is the Krath Dynasty's Nova Crystal, although Nova Crystals are nowhere near as succesful as the Galactic Credit. It is the currency of every large government known to the galaxy, the only exception being the Krath Dynasty, although even members of the Krath Dynasty use Galactic Credits.

The Galactic Credit is sometimes referred to as the Imperial Credit, especially by the Galactic Empire. This is no valid name however, as the Galactic Credit is used as well by the Galactic Alliance and it is unknown who originally started using the Galactic Credit. It is also not known who the people were that designed the system behind this currency.

From its inception, the credit was backed by the immense wealth of the planet Muunilinst and the InterGalactic Banking Clan (IGBC). [1]

Over the course of time, the Galactic Credit has lost a lot of its value because so many Governments use it and it is used by many factions hostile to each other, making it impossible for all users and distributors of the Galactic Credit to work together and discuss the future of the Credit. The devaluation of the Credit has caused the price of nearly everything in the galaxy to rise tremendously. There have been attempts to boost the value of the Galactic Credit again by taking Credits out of circulation, but this has proven to be difficult and the effect on the economy and inflation has been very limited so far.

Physical currency enjoyed an increase in popularity as denizens of the galaxy awaited resolution to the Galactic Civil War. Many were wary that credit chips could become worthless following the war. [1]

Form

The credit was a physical currency with both coins and bills in circulation. Although they were about the same size, credits sometimes came in different patterns or designs, most likely depending on how much they were worth. Sometime during the height of the Galactic Republic, credit chips became popular. In some times, the credit also came in the form of small metallic ingots. [1]

In some places credits could be accessed via a debit code. Credits could be transferred or withdrawn from an account card. These were usually used by sabacc or pazaak players. [1]

References: [1] - http://starwars.wikia.com/wiki/Galactic_Credit