Galactic Credit Standard



"Republic credits? Republic credits are no good out here. I need something more real."

- Watto to Qui-Gon Jinn on Tatooine

The Galactic Credit Standard, simply called credit, colloquially referred to as Republic Dataries, and later known as the Imperial Credit, was the main currency in use in the galaxy since the time of the Galactic Republic.

From its inception, the credit was backed by the immense wealth of the planet Muunilinst and the InterGalactic Banking Clan. During the Clone Wars, the IGBC backed the currencies of both sides, as it would do again decades later for the New Republic and Imperial Remnant.

One tenth of a credit was called a decicred.

Form


The credit was a physical currency with both coins and bills in circulation. Sometime during the height of the Galactic Republic, credit chips became popular. Near the end of the Galactic Empire's reign, physical currency enjoyed an increase in popularity as denizens of the galaxy awaited resolution to the Galactic Civil War. Many were wary that credit chips could become worthless following the war.

In some places, such as the first Death Star, credits could be accessed via a debit code.

Decline
During the Clone Wars, many of the galaxy's inhabitants were worried about the war's outcome and what effect it would have on the galactic economy. Because of this, an overwhelming majority of planets outside the Core and Inner Rim would not accept credits. These planets and regions began minting their own currencies.

The Empire continued to use the credit, now called the Imperial Credit, as its main currency, and during the reign of Emperor Palpatine, there were few who would not accept it. Even the Alliance to Restore the Republic used it, along with their own Alliance Credit, as it was the most used and easiest to use currency in the galaxy.



After the fracturing of the Empire at the Battle of Endor, many different currencies came into existence. Though the New Republic had reclaimed the credit, it was by no means the most accepted monetary unit in the galaxy. Many regions, including the Imperial Remnant, again began printing their own currencies. During this time exchange rates fluctuated wildly, and indeed it was hard at times to find anyone that would exchange one for another. Traders, smugglers, and legitimate freighters dealt in precious metals and commodities as neither the New Republic nor the Imperial Remnant would accept the others currency.

Behind the scenes
In supplemental material written by George Lucas in 1977 for the use of licensees, he described the "Coin of the Galactic Realm" as having two forms: a "credit unit," which is left undescribed, and a flat square coin made out of crystal. The crystal coin was unreproducible by anyone other than the Empire.

The credit symbol greatly resembles that of the American dollar ($), the Japanese Yen (¥) and the European Euro (€), all of which also resemble a letter from the alphabet crossed by two parallel lines. The symbol for the Galactic Credit Standard looks like the letter Resh (R) with two parallel lines running vertically through it, possibly denoting "Republic." One credit would be equal to $1 American dollar.