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Piastre

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A 100 piastre note from French Indochina, circa 1954.
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A 100 piastre note from French Indochina, circa 1954.

Originally a dollar size silver coin, the piastre served as the major unit of currency of French Indochina (Present-day Vietnam, Cambodia, and Laos), and Ottoman Turkey.

The term is still unofficially used in Quebec French and Acadian slang as a reference to the Canadian dollar. Early private bank currency issues in French speaking regions of Canada were denominated in piastres. The official French term for the modern Canadian dollar is, of course, dollar. Piastre was also the original French word for the U.S. dollar, used for example in the French text of the Louisiana Purchase. Modern French uses dollar for this unit of currency as well.

The piastre still exists as the subdivision of the Egyptian pound and Syrian pound. Theoretically, the piastre also still exists in Lebanon, where it is a subdivision of the Lebanese pound; inflation, however, has rendered it superfluous and it is not currently in use. The new kuruş, the subvision of the Turkish new lira, is commonly known as the piastre.

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