Meanwhile, the authorities introduced a parallel currency, called the chervonets, which was fully convertible and backed by the gold standard.

This they did at an Intergovernmental Conference in 1837 when Hessen, defensive of its national sovereignty, suggested a parallel currency rather like the hard ecu.

Member countries retain their respective currencies but there exists a parallel currency which circulates side by side with the national currencies.

In a parallel currency union, a member country's currency competes with the parallel currency.

Despite a liquidity crisis aggravated by the sanctions, the country has adapted by using parallel currencies.

A second parallel currency has sprung up using certificates of deposit, which are discounted by up to 30 percent.

The Danish Social Democrats have today voted against the Stevens report on the euro as a parallel currency.

Countries must be able to leave the eurozone to form alternative monetary unions or establish parallel currencies.

Paul supports legalization of parallel currencies, such as gold-backed notes issued from private markets and digital gold currencies.

Ukraine and Byelarus already had parallel currencies [see pp. 38732; 38924].