A country that has never had its own currency has formed a central bank and put

Question

A country that has never had its own currency has formed a central bank and put you in charge of developing money.  It needs to perform the necessary functions of any good currency efficiently (i.e., being a medium of exchange, a store of value, and a unit of account).   Because your country is interested in trading with other members of the global economy, other nations must have faith in its fitness and the currency exchange markets must be willing to accept it.  Though your answer needs to be correct in terms of economic theory (so be sure to read the assigned chapters), creativity and having fun with it is strongly encouraged.
    
    Construct thoughtful, detailed responses to the answers contributed by at least three of your classmates.     
    

Explanation / Answer

I would first give a name to the currency like The country's name followed by dollar or may be related to the language spoken in the country. i will print the amount equivalent to what i want the currency to be worth.I will make it official in the country that is allow people to buy goods using that currency. Based on the country's assets and gold reserves i will mark it against the US dollar. I would list it on a currency exchange and allow trading on it. I would issue bonds with attractive interest rates to lure investors into investing in the currency. I will encourage both the retail investors as well as institutional ones to buy bonds initially. I'll contact the company's issuing IPOs to accept the newly printed paper money to issue its stocks. Similarly i'll extend it to the FIIs and FDIs to come and invest and will make my currency even more trustable. This way i'll try to replace the entire existing system with the currency that i have made and at the same time be careful with the amount that i am printing so that the currency in itself doesnt lose its worth.

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