The Scotan Relua is the official currency of the Republic of Scotannaea since independence in 2013. The value of a Scotan Relua is very strong but since it's last charter period from 2013-14, the value of a Relua was pegged at £1.46, and speaking of pegging, the value of the currency varies each year and not at each day. This fixed exchanged rate means that until 1 January 2015 at 12:01am, 1 Relua will buy you 1 Pound and 43 pence and 1 Pound will buy you 70 Relua cents.
The growing decline of the Relua is taking it's toll on the Scotan economy, since the official currency is the Relua but other currencies are accepted in Scotannaea, the Relua could be abandoned for the Euro or Pound Sterling. One of Scotan Labour election manifesto promises is to change the currency to a more widely used and favourable currency.
The current pegged exchange rate from the Scotan National Bank (SNB will become Micronational Economic Union) for the charter period of 2014-15 is £1.43 (GBP) per 1 Relua.
Currency Act of 2014
On the 9th April 2014, President Booth signed the Currency Act which Article 2 states that: "The Scotan Relua will be rendered obsolete and will be discontinued as national currency from 15 May 2014"; this means that on this date, the Scotan Relua will have no worth, no use or no buying power at all.