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Shell money is a medium of exchange similar to coin money and other forms of commodity money, and was once commonly used in many parts of the world. [1] Shell money usually consisted of whole or partial sea shells, often worked into beads or otherwise shaped. The use of shells in trade began as direct commodity exchange, the shells having use ...
Monetaria moneta, common name the money cowrie, is a species of small sea snail, a marine gastropod mollusk in the family Cypraeidae, the cowries. [ 1 ] This species is called "money cowrie" because the shells were historically widely used in many Pacific and Indian Ocean countries as shell money before coinage was in common usage.
1742 drawing of shells of the money cowrie, Monetaria moneta Cowrie shells The shells of cowries are usually smooth and shiny and more or less egg-shaped. The round side of the shell is called the Dorsal Face, whereas the flat under side is called the Ventral Face, which shows a long, narrow, slit-like opening (), which is often toothed at the edges.
Today, inflation often creates a demand for more stable (but forbidden) foreign currency, while in rural areas the original bartering system is still in widespread usage. As of 1 March 2019, the Libyan dinar (LYD) has the strongest currency in Africa.
Use as shell money. In parts of Asia, Africa and the Middle East, Monetaria annulus, the ring cowry, so-called because of the bright orange-colored ring on the back or upper side of the shell, was commonly used as shell money much like Monetaria moneta. Occasionally the ring part on its back would be hammered away, making it nearly ...
The use of barter-like methods using commodity money may date back to at least 100,000 years ago. [citation needed] Trading in red ochre is attested in Eswatini, shell jewellery in the form of strung beads also dates back to this period, and had the basic attributes needed of commodity money.
The history of shell-money making in the langa langa lagoon is patchy. Stories retold from myths said that the first person to introduce shell money to the Langalanga lagoon was a woman from Buin in Bougainville. She was banish and floated in a coconut shell from Buin to Guadalcanal and finally to Malaita and landed at Tafilo a village at ...
Petroleum industry in Nigeria. Nigeria is the second largest oil and gas producer in Africa (after Angola). [1] Crude oil from the Niger Delta basin comes in two types: light, and comparatively heavy – the lighter has around 36 of API gravity while the heavier has 20–25 of API gravity.