Ministry of Commerce devalues the Kupfermark

Moderate government policy aims to attract foreign investors and move the domestic market.

On 19 June 2022 the government approved the Kupfermark devaluation policy put forward by the Minister of Commerce, The Most Dignified Mr. Bernardo Barcelos. Devaluation consists of reducing the value of the currency in relation to its backing, copper, thus decreasing the value of the Kupfermark in relation to other currencies, but increasing the amount of Kupfermarks that can be acquired with the same value. Where once a gram of copper was worth 10 Kupfermarks, it is now worth 1000, because the value of the currency was reduced from the equivalent value of a dekagram of copper, a metal that gives its ballast through the national reserve of 4.1 kg, to the value of the milligram. According to the Ministry of Commerce, the devaluation of the Kupfermark actually values it because, although it is worth less compared to the value of copper and other currencies, it increases the amount of Kupfermark that can be acquired externally, attracting investors. The measure also aims to bring Ebenthali numerical values that they are more used to dealing with, more similar to the Real, Dollar, Pound and Euro, than the diminutive values that were paid due to the high value of the Kupfermark in copper. With this, the ministry also wants to give real usability to the Kupfermark banknotes and its centimal subdivision, the Pfennigs, which until then had been ignored because the salary values paid were contained in few banknotes and there was no space or usability for cents. As it is a structural economic policy, the devaluation of the Kupfermark was introduced directly to the House of Aristocrats, without going through the scrutiny of the elected chamber, the House of Councillors, having been approved by 10 votes in favor (with 4 abstentions) and received the Royal Assent on the same day. With the passage of the policy, Ebenthal's nominal GDP from 𝒦ℳ 410,000 rose to 𝒦ℳ 4.1 million. The House of Aristocrats set up a commission to look at the portability of wages to the new numerical value model. Below is a table of updated rates for conversion between the value of Kupfermark, Cobre and Brazilian Real for comparison: As of 2022 a kilogram of copper costs 54.3 BRL, 9.75 USD, 7.20 GBP or 8.57 EUR.

• 1 Kupfermark = 0.001g (1 mg) = 0,00005 BRL

• 2 Kupfermarks = 0.002g = 0,0001 BRL

• 5 Kupfermarks = 0.005g = 0,0003 BRL

• 10 Kupfermarks = 0.01g (1 cg) = 0,0005 BRL

• 20 Kupfermarks = 0.02g = 0,001 BRL

• 50 Kupfermarks = 0.05g = 0,003 BRL

• 100 Kupfermarks = 0.1g (1 dg) = 0,005 BRL

• 200 Kupfermarks = 0.2g = 0,01 BRL

• 500 Kupfermarks = 0.5g = 0,03 BRL

• 1000 Kupfermarks = 1.0g = 0,05 BRL