Robloxian robux

For the new currency in the process of denomination, see Robloxian convertible robux. RBXThe Robloxian robux (sign: R$ or RO$, code: RBX; Indonesian: uang Roblox, Mikaelis: Rabuks, Ichbin: Roobax) is a digital and real currency in the Unitary Republic of Roblox, and is the only legal tender, alongside the Robloxian rei in the Kingdom of Robloxia. It replaced both the Roblox mark and ROBLOX points which has been used for almost 2 centuries, and instead formed a single, unified currency that can be used offline and online. It is issued by the Bank of the Unitary Republic of Roblox, whilst Roblox regulated the exchange rates, and since then has become the 7th most traded currency in the world.

The Developer Exchange program in 2013 brought a new series to the banknotes introduced in January 2014, which is only usable for developing and online purposes. This made Robux divided into 2 units: the civilian unit and the DevEx unit.

Talks about redenominations have started since the 2011, when some realized that the numbers were too big, as to pay 200 USD needed around 16000 RBX. Because of these big denominations, a redenomination process have been announced under the governments of John Ling and Mikael Yosie.

History
In 1999, some civilians and parts of regional governments expressed concerns about the value of the currency itself. This situation was worsened with the 2000-2001 economic crisis, civil unrest, and the 2 year riots in the cities of Roblox City, Bloxburg, and Jatake. With the unrest happening, state police suppressed the protests heavily and arrested some of them, until the prime minister David Heller and president David Davre jointly announced they will be in talks with the Governor of the Central Bank to make a new convertible currency.

It wasn't until 2003 that the government announced the new currency called "Robux" in which the redenomination process would start from that year to 2007, before the Roblox mark and points would cease to become legal tender. The rate is 1000 Roblox marks to 1 Robux.

In the midst of the economic crisis of the Great Recession, Robux became an independent currency and the country successfully avoided the economic crisis, and at that time, it reached its peak value of 32 RBX = 1 USD. However, the value decreased after the Great Recession, and 1 USD returned to the rate of 91 RBX.

In 2010, Roblox announced that they would peg the currency with the United States dollar, with the rate of 1 USD = 80 RBX. Roblox effectively became a regulator on the value of the currency. This helped the currency stay afloat and make the economy stronger. And later on, the Miracle of Jatake helped the economy bound to 15 percent, and made the currency into high-profile tradings.

In 2013, Roblox announced the Developer Exchange program, in which they allowed trades between developers to develop their Game. Along with that announced, Roblox also announced a new valuation of the Roblox currency only for DevEx members, in which the currency was pegged 1 RBX = 0.0035 USD, making it 1 USD = 286 RBX. The Central Bank swiftly made banknotes for users who participated in the DevEx program, but its use is only restricted for developing purposes only. The banknotes were released in 2014, and at the same time, coins stopped circulating, but continued to be legal tender until 5 years of the minting of the next series of coins.

There have been talks to redenominate the currency, from 2011, as Roblox became the regulator of the value of the currency. With a sprawling population of almost 200 million, some estimate that the redenomination process would be done in at least 6 years. The majority of the discussions have came up with 80 RBX = 0.8 new RBX, but Roblox focused on 80 RBX = 8 RBX. This has been a heated debate between the Central Bank and Roblox, and it will settle between the end of 2020 to the early 2021.