Denomination (currency)        Email Print    Bookmark   Link     Denomination (currency)   Home Discussion     Topics Denomination (currency) Topic Home Denomination is a proper description of a currency Currency A currency is a Medium of exchange, facilitating the trade of goods and/or Service s. It is coins and paper bills used as money. It is one form of money, where money is anything that serves as a medium of exchange, a store of value, and a standard of value....  amount, usually for coin Coin A coin is a piece of hard material, usually metal or a metallic material, usually in the shape of a Disk , and most often issued by a government.... s or banknote Banknote A banknote is a kind of negotiable instrument, a promissory note made by a bank payable to the bearer on demand, used as money, and in many jurisdictions is legal tender.... s. Denominations may also be used with other means of payment like gift card Scrip Scrip is any substitute for currency which is not legal tender and is often a form of credit . Scrips were created as company payment of employees and also as a means of payment in times where regular money is unavailable, such as remote coal towns or occupied countries in war time.... s. currency system, there is usually a main unit (base), and a subunit that is a fraction Fraction (mathematics) A fraction is a number that can represent part of a whole.The earliest fractions were reciprocals of integers, symbols representing one half, one third, one quarter, and so on....  amount of the main unit. In some countries, there are multiple levels of subunits. In the Ottoman Empire Ottoman Empire The Ottoman Empire , also known by its contemporaries as the Turkish Empire or Turkey , was an empire that lasted from 1299?1923. It was Treaty of Lausanne by the Republic of Turkey, which was officially proclaimed on October 29, 1923.... , 1 lira = 100 kurus Kurus Kurus is a Turkey currency subunit. Since 2005, one new Turkish lira is equal to 100 kurus. The kurus was also the standard unit of currency in the Ottoman Empire until 1844, and from that date until the late 1970s was a subdivision of the former lira....  = 4000 para = 12000 akçe Akçe A silver coin, the ak?e was the chief monetary unit of the Ottoman Empire. Three ak?es were equal to one para . One-hundred and twenty ak?es equaled one kurus.... . Discussion Ask a question about 'Denomination (currency)' Start a new discussion about 'Denomination (currency)' Answer questions from other users Full Discussion Forum Encyclopedia Denomination is a proper description of a currency Currency A currency is a Medium of exchange, facilitating the trade of goods and/or Service s. It is coins and paper bills used as money. It is one form of money, where money is anything that serves as a medium of exchange, a store of value, and a standard of value....  amount, usually for coin Coin A coin is a piece of hard material, usually metal or a metallic material, usually in the shape of a Disk , and most often issued by a government.... s or banknote Banknote A banknote is a kind of negotiable instrument, a promissory note made by a bank payable to the bearer on demand, used as money, and in many jurisdictions is legal tender.... s. Denominations may also be used with other means of payment like gift card Scrip Scrip is any substitute for currency which is not legal tender and is often a form of credit . Scrips were created as company payment of employees and also as a means of payment in times where regular money is unavailable, such as remote coal towns or occupied countries in war time.... s. Subunit and super unit In a currency system, there is usually a main unit (base), and a subunit that is a fraction Fraction (mathematics) A fraction is a number that can represent part of a whole.The earliest fractions were reciprocals of integers, symbols representing one half, one third, one quarter, and so on....  amount of the main unit. In some countries, there are multiple levels of subunits. In the Ottoman Empire Ottoman Empire The Ottoman Empire , also known by its contemporaries as the Turkish Empire or Turkey , was an empire that lasted from 1299?1923. It was Treaty of Lausanne by the Republic of Turkey, which was officially proclaimed on October 29, 1923.... , 1 lira = 100 kurus Kurus Kurus is a Turkey currency subunit. Since 2005, one new Turkish lira is equal to 100 kurus. The kurus was also the standard unit of currency in the Ottoman Empire until 1844, and from that date until the late 1970s was a subdivision of the former lira....  = 4000 para = 12000 akçe Akçe A silver coin, the ak?e was the chief monetary unit of the Ottoman Empire. Three ak?es were equal to one para . One-hundred and twenty ak?es equaled one kurus.... . Today, only a few places use this practice, notably Chinese Chinese language Chinese or the Sinitic language is a language family consisting of language mutually unintelligible to varying degrees. Originally the indigenous languages spoken by the Han Chinese in China, it forms one of the two branches of Sino-Tibetan languages of languages....  speaking regions: mainland China Mainland China Mainland China, Continental China, the Chinese mainland or simply the mainland, is a geopolitical term refers to the area under the jurisdiction of the People's Republic of China , excluding Hong Kong and Macau, which run on One Country, Two Systems....  (renminbi Renminbi The renminbi is the currency of the People's Republic of China, whose principal unit is the Chinese yuan , subdivided into 10 jiao , each of 10 fen .... ), Hong Kong Hong Kong Hong Kong , officially the Hong Kong Special Administrative Region, is a territory located in Southern China in East Asia, bordering the province of Guangdong to the north and facing the South China Sea to the east, west and south....  (Hong Kong dollar Hong Kong dollar The Hong Kong dollar is the currency of Hong Kong. It is the 9th most traded currency in the world. In English language, it is normally abbreviated with the dollar sign $, or alternatively HK$ to distinguish it from other dollar-denominated currencies.... ), and Republic of China Republic of China The Republic of China , also known as Nationalist China is a country in East Asia that has evolved from a single-party state with full global recognition into a multi-party democratic state with Political status of Taiwan....  (New Taiwan dollar New Taiwan dollar The New Taiwan dollar , or simply Taiwan dollar, is the official currency of the Taiwan Area of the Republic of China since 1949. Originally issued by the Bank of Taiwan, it has been issued by the Central Bank of the Republic of China since 2000.... ). In addition, Jordanian dinar Jordanian dinar The dinar is the currency of Jordan. The dinar is divided into 10 dirham, 100 qirsh or 1000 fils .The Jordanian dinar also circulates in West Bank together with the Israeli new sheqel....  is divided into 10 dirham, 100 qirsh/piastres, or 1000 fils. Many countries today where Western Europe Western Europe Western Europe refers to the countries in the western most half of Europe. This concept has had different meanings, political and cultural as well as geographical issues have influenced the area.... an languages are spoken have their main units divided into 100 cents Cent (currency) In many national currency, the cent is a money Units of measurement that equals 1/100 of the basic monetary unit. The word also refers to the coin which is worth one cent....  or derivatives of the word cent. Occasionally, a super unit is used as multiples of the main unit. Examples include Korea Korea Korea is a geographic area composed of two sovereign countries, a civilization, and a former state situated on the Korean Peninsula in East Asia.... n whan = 5 yang Korean yang The yang was the currency of Korea between 1892 and 1902. It was subdivided into 10 jeon , 100 bun and 5 yang = 1 hwan ....  in 1893, Iranian toman Iranian toman The toman , is a superunit of the official currency, rial. Toman derived from a Turkic languages word meaning ten thousand , was the currency of Iran until 1932....  10 rials Iranian rial The rial is the currency of Iran. It is subdivided into 100 dinar but, because of the very low current value of the rial, no fraction of the rial is used in accounting....  (used informally today). In the Ottoman Empire Ottoman Empire The Ottoman Empire , also known by its contemporaries as the Turkish Empire or Turkey , was an empire that lasted from 1299?1923. It was Treaty of Lausanne by the Republic of Turkey, which was officially proclaimed on October 29, 1923.... , lira and kurus were super units at some point before becoming the main unit. Decimal vs. non-decimal A decimal currency is a currency where the ratio between the main unit and the subunit is an integral power Exponentiation Exponentiation is a mathematics operation , written 'an', involving two numbers, the base a and the exponent n....  of 10. Non-decimal currencies Non-decimal currencies A non-decimal currency is one which has sub-units that are a non-decimal fraction of the main unit.Today, only two countries in the world use non-decimal currencies....  have the advantage in daily life transactions. For example, 1 South German Gulden South German gulden The Gulden was the currency of the states of southern Germany between 1754 and 1873. These states included Bavaria, Baden, W?rttemberg, Free City of Frankfurt and Hohenzollern....  = 60 Kreuzer Kreuzer The Kreuzer, in English usually kreutzer, was a silver coin and unit of currency existing in the Southern German states prior to the German Empire, and in Austria.... . 60 Kreuzer can be divided into 2, 3, 4, 5, or 6 parts that are still integer Integer The integers are natural numbers including 0 and their negative and non-negative numberss . They are numbers that can be written without a fractional or decimal component, and fall within the set .... s, making pricing easy. The underlining difference is that 60 has a higher density of divisor Divisor In mathematics, a divisor of an integer n, also called a factor of n, is an integer which evenly divides n without leaving a remainder.... s ( = 20%) than 100 ( = 9%). The main reason why many currencies before modern times were non-decimal is because the main units at that time were often quite large and computer Computer A computer is a machine that manipulates Data according to a list of Code .The first devices that resemble modern computers date to the mid-20th century , although the computer concept and various machines similar to computers existed earlier.... s were not invented yet. Choice of name It is common to name a unit with a unit of weight Units of measurement The definition, agreement and practical use of units of measurement have played a crucial role in human endeavour from early ages up to this day.... , such as pound Pound (currency) The pound, a unit of currency, originated in England, as the value of a pound mass of silver. For a long time, ?1 worth of silver coins were a troy pound in mass.... , lira Lira Lira was the common currency for RomeLira is the name of the Currency of a number of countries, as well as the former currency of Italy, Malta, San Marino and the Vatican City.... , and baht Thai baht The baht is the currency of Thailand. It is subdivided into 100 satang . The issuance of currency is the responsibility of the Bank of Thailand.... . These currencies are usually originally defined as that amount of some precious metal Precious metal A precious metal is a rare metallic chemical element of high economics value. Chemically, the precious metals are less reactivity than most elements, have high lustre , are softer or more ductility, and have higher melting points than other metals.... . Another choice of name is some form of derivative of the political entity. Afghan afghani Afghan afghani The Afghani is the currency of Afghanistan. It is subdivided into 100 pul ....  and euro Euro The euro is the official currency of 16 out of 27 European Union member state of the European Union . The states, known collectively as the Eurozone are: Austria, Belgium, Cyprus, Finland, France, Germany, Greece, Republic of Ireland, Italy, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia, and Spain....  fall into this category. Sometimes the name is simply the name of the metal, of which the coins are made, such as Polish zloty Polish zloty The zloty As a result of inflation in the early 1990s, the currency underwent Denomination #Redenomination. Thus, on 1 January 1995, 10 000 old zlotych became one new zloty ....  and Vietnamese d?ng Vietnamese d?ng The d?ng is the currency of Vietnam since May 3, 1978. It is issued by the State Bank of Vietnam. It has the symbol ?. It is subdivided into 10 h?o.... . Redenomination Inflationary Due to inflation Inflation In economics, inflation is a rise in the general price level of goods and services in an economy over a period of time. The term "inflation" once referred to increases in the money supply ; however, economic debates about the relationship between money supply and price levels have led to its primary use today in describing price inflatio... , the same amount of monetary units have continually decreasing purchasing power Purchasing power Purchasing power is the number of goods/services that can be purchased with a unit of currency. For example, if you had taken one dollar to a store in the 1950s, you would have been able to buy a greater number of items than you would today, indicating that you would have had a greater purchasing power in the 1950s.... . In other words, prices of the same products or services must be expressed in higher numbers. When prices reach a certain point, the high numbers can impede the well being of daily transactions because of the risk and inconvenience of carrying stacks of bills, strain on systems, e.g., automatic teller machines (ATMs), and because human psychology Psychology Psychology is an academic and applied science discipline involving the science study of human mental functions and behavior. Occasionally it also relies on symbolic hermeneutics and critical theory, although these traditions are less pronounced than in other social sciences such as sociology....  does not handle large numbers well. To address this problem, authorities can alleviate it through the process of redenomination. Redenomination is the process where a new unit replaces the old unit with a certain ratio. If inflation is the reason for redenomination, this ratio is some number larger than 1, usually a positive integral power Exponentiation Exponentiation is a mathematics operation , written 'an', involving two numbers, the base a and the exponent n....  of 10 like 100, 1000 or 1 million, and the procedure can be referred to as "cutting zeroes". Recent examples include New unit = x Old unit year Revalued Zimbabwean dollar Zimbabwean dollar The dollar is the currency of Zimbabwe. It is subdivided into 100 Cent . It is normally abbreviated with the dollar sign $, or alternatively Z$ to distinguish it from other dollar-denominated currencies.... = 10,000,000,000 old dollars 2008 New Mozambican metical Mozambican metical The metical is the currency of Mozambique, abbreviated with the symbol MZN or MTn. It is nominally divided into 100 centavos, which have inflated out of use since the currency's introduction.... = 1000 old meticais 2006 This table is not exhaustive. Although the ratio is often a positive integral power of 10, sometimes it can be a where a is a single digit integer and n is a positive integer. Partial examples include New unit = x Old unit year Rentenmark = 1000 billion Papiermark 1923 Chinese "gold" yuan Chinese yuan The yuan is, in the Chinese language, the base unit of a number of modern Chinese currencies. The same character is used to refer to the cognate currency units of Japan and Korea, and is used to translate the currency unit "dollar"; for example, the United States dollar is called Meiyuan , or "American yuan", in Chinese.... = 3 million old yuan 1948 Chinese "silver" yuan = 500 million "gold" yuan 1949 New Taiwan dollar New Taiwan dollar The New Taiwan dollar , or simply Taiwan dollar, is the official currency of the Taiwan Area of the Republic of China since 1949. Originally issued by the Bank of Taiwan, it has been issued by the Central Bank of the Republic of China since 2000.... = 40,000 old dollars Old Taiwan dollar The Old Taiwan dollar , sometimes called Old Taiwan yuan, was the currency of Taiwan, Republic of China from 1946 to 1949. It was issued by the Bank of Taiwan.... 1949 Azerbaijani new manat Azerbaijani manat The manat is the currency of Azerbaijan. It is subdivided into 100 q?pik. The word manat is borrowed from the Russian language word "??????" which is pronounced as "maneta".... = 5000 old manat 2006 This table is not exhaustive. Occasionally, the ratio is defined in a way such that the new unit is equal to a hard currency Hard currency Hard currency or strong currency, in economics, refers to a globally traded currency that can serve as a reliable and stable store of value.... . As a result, the ratio may not be based on an integer. Examples include New unit = x Old unit = Anchor currency year Brazilian real Brazilian real The real is the present-day currency of Brazil and was also the currency during the period 1690 to 1942. When the first real circulated, the plural used was r?is.... = 2750 cruzeiro reais Brazilian cruzeiro real The cruzeiro real was the short-lived currency of Brazil between 1 August 1993 and mid-1994. It was subdivided in 100 centavos, however, this unit was used only for accounting purposes.... = United States dollar United States dollar The United States dollar is the unit of currency of the United States and was defined by the Coinage Act of 1792 to be between 371 and 416 grains of silver .... 1994 Yugoslav novi dinar Yugoslav dinar The dinar was the currency of the three Yugoslavia states: the Kingdom of Yugoslavia , the Socialist Federal Republic of Yugoslavia and the Federal Republic of Yugoslavia.... = 10~13 million 1994 dinara = German mark German mark The Deutsche Mark or German mark was the official currency of West Germany and, from 1990 until the adoption of the euro, all of unified Germany.... 24 January 1994 This table is not exhaustive. In the case of hyperinflation Hyperinflation File:Bundesarchiv Bild 102-00104, Inflation, Tapezieren mit Geldscheinen.jpgIn economics, hyperinflation is inflation that is very high or "out of control", a condition in which prices increase rapidly as a currency loses its value.... , the ratio can go as high as millions or billions 1000000000 (number) 1,000,000,000 is the natural number following 999,999,999 and preceding 1,000,000,001.In scientific notation, it is written as 109.... , to a point where scientific notation Scientific notation Scientific notation, also known as standard form or as exponential notation, is a way of writing numbers that accommodates values too large or small to be conveniently written in standard decimal notation....  is used for clarity or long and short scales Long and short scales The long and short scales are two different numerical systems used throughout the world:Note that the difference between the two scales grows as numbers get larger....  are mentioned to disambiguate what kind of billion/trillion is meant. In the case of chronic inflation Chronic inflation Chronic inflation is characterized by much higher price increases than ordinary inflation, at annual rates of 10% to 30% in some industrialized nations and even 100% or more in a few developing countries....  or regular inflation, the authorities have a choice: a large redenomination ratio or a small redenomination ratio. When using a small ratio, more redenomination processes must be carried out in the long run. And each occurrence incurs costs of productivity in the financial, accounting, and computing industry. As a result, small ratio has the disadvantage of more cost associated to the changeover. However, the period of prices with large number can be shortened with a small ratio. During a redenomination process, the new unit is often the same as the old unit, with the addition of the word "new". The word "new" may or may not be dropped a few years after the change. Sometimes the new unit is a completely new name, or a "recycled" name from previous redenomination or from ancient times. New unit = x Old unit year Nature of the new unit Turkish new lira = 1 million old lira Turkish lira The Turkish lira is the currency of Turkey and the non-recognized nations of the Turkish Republic of Northern Cyprus. The lira is subdivided into 100 kurus.... 2005 "new" is an official designation and will be dropped in 2009 New Taiwan dollar New Taiwan dollar The New Taiwan dollar , or simply Taiwan dollar, is the official currency of the Taiwan Area of the Republic of China since 1949. Originally issued by the Bank of Taiwan, it has been issued by the Central Bank of the Republic of China since 2000.... = 40,000 old dollars Old Taiwan dollar The Old Taiwan dollar , sometimes called Old Taiwan yuan, was the currency of Taiwan, Republic of China from 1946 to 1949. It was issued by the Bank of Taiwan.... 1949 "new" is an official designation and is still used in official documents today Argentine austral Argentine austral The austral was the currency of Economy of Argentina between June 15, 1985 and December 31, 1991. It was subdivided into 100 centavos. The symbol was an uppercase A with an extra horizontal line .... = 1,000 Peso argentino 1985 completely new name Yugoslav 1993 dinar Yugoslav dinar The dinar was the currency of the three Yugoslavia states: the Kingdom of Yugoslavia , the Socialist Federal Republic of Yugoslavia and the Federal Republic of Yugoslavia.... = 1 million 1992 dinara 1993 no official designation Brazilian real Brazilian real The real is the present-day currency of Brazil and was also the currency during the period 1690 to 1942. When the first real circulated, the plural used was r?is.... = 2750 cruzeiro reais Brazilian cruzeiro real The cruzeiro real was the short-lived currency of Brazil between 1 August 1993 and mid-1994. It was subdivided in 100 centavos, however, this unit was used only for accounting purposes.... 1994 recycled unit of Brazil before 1942 This table is not exhaustive. Monetary union When countries form a monetary union, redenomination may be required and the conversion ratio is often not an even number, or even less than 1. New unit = x Old unit year Monetary union Austro-Hungarian krone Austro-Hungarian krone The Krone or korona was the official currency of the Austria-Hungary from 1892 until the dissolution of the empire in 1918. The subunit was one hundredth of the main unit, and it was called Heller in the Austrian and fill?r in the Hungarian part of the Empire.... = 0.5 gulden/forint Austro-Hungarian gulden The Gulden or forint was the currency of the Austria-Hungary between 1754 and 1892 when it was replaced by the Austro-Hungarian krone as part of the introduction of the gold standard.... 1892 Latin Monetary Union Latin Monetary Union The Latin Monetary Union was a 19th century attempt to European integration several European Currency into a currency union that could be used in all the member states, at a time when most national currencies were still made out of gold and silver.... euro Euro The euro is the official currency of 16 out of 27 European Union member state of the European Union . The states, known collectively as the Eurozone are: Austria, Belgium, Cyprus, Finland, France, Germany, Greece, Republic of Ireland, Italy, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia, and Spain.... = 0.787564 Irish pound Irish pound The Irish pound or punt ?ireannach was the currency of Republic of Ireland until 2002. Its ISO 4217 code was IEP, and the usual notation was the prefix ?, or IR? where confusion might have arisen with the pound sterling or other pound .... 1999/2002 Eurozone Eurozone The Eurozone is a currency union of 16 Member State of the European Union which have adopted the euro as their sole legal tender. It currently consists of Austria, Belgium, Cyprus, Finland, France, Germany, Greece, Republic of Ireland, Italy, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia and Spain.... euro Euro The euro is the official currency of 16 out of 27 European Union member state of the European Union . The states, known collectively as the Eurozone are: Austria, Belgium, Cyprus, Finland, France, Germany, Greece, Republic of Ireland, Italy, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia, and Spain.... = 40.3399 Belgian Belgian franc The franc was the currency of Belgium until 2002 when the euro was introduced into circulation. It was subdivided into 100 centiem , centimes or Centime ....  or Luxembourgian francs 1999/2002 Eurozone Eurozone The Eurozone is a currency union of 16 Member State of the European Union which have adopted the euro as their sole legal tender. It currently consists of Austria, Belgium, Cyprus, Finland, France, Germany, Greece, Republic of Ireland, Italy, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia and Spain.... This table is not exhaustive. Decimalisation In many countries where an £sd £sd ?sd was the popular name for the pre-decimal currency used in the United Kingdom and in most of the British Empire. This abbreviation meant ?pound sterlings, shillings, and pence?, having originated from the Latin words ?libra , solidus , denarius?....  system (£1 = 20 shilling Shilling The shilling is a unit of currency used in current and former Commonwealth of Nations countries, and continued to be used in countries that left the commonwealth, such as Republic of Ireland and Tanzania.... s = 240 pence Penny A penny is a coin or a unit of currency used in several English-speaking countries.... ) was used, the process of decimalisation Decimalisation In the management of currency, decimalisation is the process of converting from traditional denominations to a "decimal" system, usually with two units differing by a factor of one hundred....  was carried out. While they were at it, some chose to change the main unit as well. By defining 1 dollar = £0.5 = 100 cents Cent (currency) In many national currency, the cent is a money Units of measurement that equals 1/100 of the basic monetary unit. The word also refers to the coin which is worth one cent.... , 1 shilling would conveniently turn into 10 cents. This is also a prime example where the ratio is less than 1. New unit = x Old unit year German gold mark German gold mark The Goldmark is the name used for the currency of the German Empire from 1873 to 1914.... = 1/3 Vereinsthaler Vereinsthaler The Vereinsthaler was a standard silver coin used in most German states and the Austrian Empire in the years prior to German Empire.... 1873 = 2.4 Penny 1971 South African rand South African rand The rand is the currency of South Africa. It takes its name from the Witwatersrand , the ridge upon which Johannesburg is built and where most of South Africa's gold deposits were found.... = 0.5 South African pound South African pound The pound was the currency of South Africa between 1825 and 1961. It was subdivided into 20 shillings, each of 12 penny.... 1961 Australian dollar Australian dollar The Australian dollar is the currency of the Commonwealth of Australia, including Christmas Island, Cocos Islands, and Norfolk Island, as well as the independent Pacific Islandss of Kiribati, Nauru and Tuvalu.... = 0.5 Australian pound Australian pound The pound was the currency of Australia until 1966. It was subdivided into 20 shillings, each of 12 penny.... 1966 New Zealand dollar New Zealand dollar The New Zealand dollar is the currency of New Zealand. It also circulates in the Cook Islands , Niue, Tokelau, and the Pitcairn Islands. The New Zealand Dollar is divided into 100 cent s.... = 0.5 New Zealand pound New Zealand pound The pound was the currency of New Zealand between 1840 and 1967. Like the British pound, it was subdivided into 20 shillings each of 12 penny. As a result of the great depression in 1930, the New Zealand agricultural export market to the UK was badly affected.... 1967 This table is not exhaustive. Book keeping When redenomination occurs, financial data that spans across the change must be presented with proper annotation. Otherwise, the data could give the illusion of astronomical change. For example, the GDP Gross domestic product File:GDP nominal per capita world map IMF 2008.pngThe gross domestic product or gross domestic income is one of the measures of national income and output for a given country's economy....   is properly documented. List of currency redenominations This table lists various currency redenominations that have occurred, including currency renaming where the exchange rate is 1:1. To view the chronology of redenominations of a particular country: 1) Press sorting button of column Year 2) Press button of Country. New unit = Exchange rate × Old unit Year Country Cause Note Chinese "silver" yuan 500,000,000   "gold" yuan 1949 China inflation   Yugoslav novi dinar Yugoslav dinar The dinar was the currency of the three Yugoslavia states: the Kingdom of Yugoslavia , the Socialist Federal Republic of Yugoslavia and the Federal Republic of Yugoslavia.... 10~13 million   1994 dinara 1994 Yugoslavia inflation Anchor currency: German mark German mark The Deutsche Mark or German mark was the official currency of West Germany and, from 1990 until the adoption of the euro, all of unified Germany.... Chinese "gold" yuan Chinese yuan The yuan is, in the Chinese language, the base unit of a number of modern Chinese currencies. The same character is used to refer to the cognate currency units of Japan and Korea, and is used to translate the currency unit "dollar"; for example, the United States dollar is called Meiyuan , or "American yuan", in Chinese.... 3,000,000	(old) yuan	1948	China	inflation
Yugoslav 1993 dinar Yugoslav dinar The dinar was the currency of the three Yugoslavia states: the Kingdom of Yugoslavia , the Socialist Federal Republic of Yugoslavia and the Federal Republic of Yugoslavia....
1,000,000

1992 dinara 1993 Yugoslavia inflation no official designation Turkish new lira 1,000,000   Turkish lira

Turkish lira

The Turkish lira is the currency of Turkey and the non-recognized nations of the Turkish Republic of Northern Cyprus. The lira is subdivided into 100 kurus....
2005 Turkey inflation "new" is an official designation and will be dropped in 2009 Hryvnia

Ukrainian hryvnia

The hryvnia, sometimes hryvnya or hryvna or hrivna , has been the national currency of Ukraine since September 2, 1996. It replaced the Ukrainian karbovanets at the rate of 1 hryvnia = 100,000 karbovantsiv....
100,000   Karbovanets (third)

Ukrainian karbovanets

The karbovanets has been a distinct unit of currency in Ukraine during three separate periods. The name is also used in the Ukrainian language for the ruble....
1996 Ukraine inflation  New Taiwan dollar

New Taiwan dollar

The New Taiwan dollar , or simply Taiwan dollar, is the official currency of the Taiwan Area of the Republic of China since 1949. Originally issued by the Bank of Taiwan, it has been issued by the Central Bank of the Republic of China since 2000....
40,000   Taiwan dollars

Old Taiwan dollar

The Old Taiwan dollar , sometimes called Old Taiwan yuan, was the currency of Taiwan, Republic of China from 1946 to 1949. It was issued by the Bank of Taiwan....
1949 Taiwan inflation "new" is an official designation and is still used in official documents today Second Renminbi yuan

Renminbi

The renminbi is the currency of the People's Republic of China, whose principal unit is the Chinese yuan , subdivided into 10 jiao , each of 10 fen ....
10,000   First Renminbi yuan 1955 China inflation  Peso argentino 10,000   Peso ley 1983 Argentina inflation  Peso (convertible)

Argentine peso

The peso is the currency of Argentina. Its ISO 4217 code is ARS, and the symbol used locally for it is $ . It is divided into 100 centavos....
10,000   Austral

Argentine austral

The austral was the currency of Economy of Argentina between June 15, 1985 and December 31, 1991. It was subdivided into 100 centavos. The symbol was an uppercase A with an extra horizontal line ....
1992 Argentina inflation  Polish zloty

Polish zloty

The zloty As a result of inflation in the early 1990s, the currency underwent Denomination #Redenomination. Thus, on 1 January 1995, 10 000 old zlotych became one new zloty ....
10,000   Polish zloty

Polish zloty

The zloty As a result of inflation in the early 1990s, the currency underwent Denomination #Redenomination. Thus, on 1 January 1995, 10 000 old zlotych became one new zloty ....
1995 Poland inflation  Leu

Leu

Leu may mean:*Leucine - for which Leu is an acronym commonly used in genetics;*Romanian leu - the standard of currency in Romania;*Moldovan leu - the standard of currency in Republic of Moldova;...
10,000   Romanian Leu

Romanian leu

The leu is the currency of Romania. It is subdivided into 100 bani . On 1 July 2005, Romania underwent a currency reform, switching from the previous leu to a new leu ....
2005 Romania

Romania

Romania is a country located in Southeastern Europe Central Europe, North of the Balkan Peninsula, on the Lower Danube, within and outside the Carpathian Mountains, bordering on the Black Sea....
  inflation   New Ghanaian cedi

Ghanaian cedi

The cedi is the unit of currency of Ghana. One cedi is divided into one hundred pesewas. The present cedi was introduced on July 3, 2007, and was equal to 10,000 old cedi when redenomination saw four zeros lopped off the value....
10,000   Cedi 2007 Ghana inflation    Azerbaijani new manat

Azerbaijani manat

The manat is the currency of Azerbaijan. It is subdivided into 100 q?pik. The word manat is borrowed from the Russian language word "??????" which is pronounced as "maneta"....
5,000   (old) manat 2006 Azerbaijan inflation  Turkmenistani new manat

Turkmenistani manat

The manat is the currency of Turkmenistan. It was introduced on November 1, 1993, replacing the Russian ruble at a rate of 1 manat = 500 ruble. The ISO 4217 code is TMM and the manat is subdivided into 100 tennesi....
5,000   (old) manat 2009 Turkmenistan inflation  Real

Brazilian real

The real is the present-day currency of Brazil and was also the currency during the period 1690 to 1942. When the first real circulated, the plural used was r?is....
2,750   Cruzeiro real

Brazilian cruzeiro real

The cruzeiro real was the short-lived currency of Brazil between 1 August 1993 and mid-1994. It was subdivided in 100 centavos, however, this unit was used only for accounting purposes....
1994 Brazil inflation Anchor currency: United States dollar

United States dollar

The United States dollar is the unit of currency of the United States and was defined by the Coinage Act of 1792 to be between 371 and 416 grains of silver ....
Cruzeiro (antigo)

Brazilian cruzeiro

The cruzeiro was the currency of Brazil from 1942 to 1986 and again between 1990 and 1993.The first cruzeiro circulated between 1942 and 1967 and had the symbol or ? and the ISO 4217 code BRZ....
1,000   Real

Brazilian real

The real is the present-day currency of Brazil and was also the currency during the period 1690 to 1942. When the first real circulated, the plural used was r?is....
 (old) 1942 Brazil inflation  Cruzeiro (novo)

Brazilian cruzeiro

The cruzeiro was the currency of Brazil from 1942 to 1986 and again between 1990 and 1993.The first cruzeiro circulated between 1942 and 1967 and had the symbol or ? and the ISO 4217 code BRZ....
1,000   Cruzeiro (antigo)

Brazilian cruzeiro

The cruzeiro was the currency of Brazil from 1942 to 1986 and again between 1990 and 1993.The first cruzeiro circulated between 1942 and 1967 and had the symbol or ? and the ISO 4217 code BRZ....
1967 Brazil inflation  Austral

Argentine austral

The austral was the currency of Economy of Argentina between June 15, 1985 and December 31, 1991. It was subdivided into 100 centavos. The symbol was an uppercase A with an extra horizontal line ....
1,000   Peso argentino 1985 Argentina inflation  Cruzado

Brazilian cruzado

The cruzado replaced the second Brazilian cruzeiro in 1986, at a rate of 1 cruzado = 1000 cruzeiros and was replaced in 1989 by the Brazilian cruzado novo at a rate of 1000 cruzados = 1 cruzado novo....
1,000   Cruzeiro (novo)

Brazilian cruzeiro

The cruzeiro was the currency of Brazil from 1942 to 1986 and again between 1990 and 1993.The first cruzeiro circulated between 1942 and 1967 and had the symbol or ? and the ISO 4217 code BRZ....
1986 Brazil inflation Cruzado Novo

Brazilian cruzado

The cruzado replaced the second Brazilian cruzeiro in 1986, at a rate of 1 cruzado = 1000 cruzeiros and was replaced in 1989 by the Brazilian cruzado novo at a rate of 1000 cruzados = 1 cruzado novo....
1,000   Cruzado

Brazilian cruzado

The cruzado replaced the second Brazilian cruzeiro in 1986, at a rate of 1 cruzado = 1000 cruzeiros and was replaced in 1989 by the Brazilian cruzado novo at a rate of 1000 cruzados = 1 cruzado novo....
1989 Brazil inflation  Cruzeiro real

Brazilian cruzeiro real

The cruzeiro real was the short-lived currency of Brazil between 1 August 1993 and mid-1994. It was subdivided in 100 centavos, however, this unit was used only for accounting purposes....
1,000   Cruzeiro (third)

Brazilian cruzeiro

The cruzeiro was the currency of Brazil from 1942 to 1986 and again between 1990 and 1993.The first cruzeiro circulated between 1942 and 1967 and had the symbol or ? and the ISO 4217 code BRZ....
1993 Brazil inflation  Russian Rouble 1,000   Rouble 1998 Russia inflation   Belarussian Rouble 1,000   Rouble 2000 Belarus inflation   New Mozambican metical

Mozambican metical

The metical is the currency of Mozambique, abbreviated with the symbol MZN or MTn. It is nominally divided into 100 centavos, which have inflated out of use since the currency's introduction....
1,000   (old) meticais 2006 Mozambique inflation Bolivar Fuerte 1,000   (old) Bolivar 2008 Venezuela inflation  euro

Euro

The euro is the official currency of 16 out of 27 European Union member state of the European Union . The states, known collectively as the Eurozone are: Austria, Belgium, Cyprus, Finland, France, Germany, Greece, Republic of Ireland, Italy, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia, and Spain....
239 .640 Slovenian tolar

Slovenian tolar

The tolar was the currency of Slovenia from 1991 until the introduction of the euro on December 31, 2006. It was subdivided into 100 stotinov....
2006 Slovenia monetary union Eurozone

Eurozone

The Eurozone is a currency union of 16 Member State of the European Union which have adopted the euro as their sole legal tender. It currently consists of Austria, Belgium, Cyprus, Finland, France, Germany, Greece, Republic of Ireland, Italy, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia and Spain....
French Franc

French franc

The franc is a former currency of France. Between 1360 and 1641, it was the name of coins worth 1 livre tournois and it remained in common parlance as a term for this amount of money....
100   Franc 1960 France inflation originally called New Franc  Peso ley 100   Peso moneda nacional 1970 Argentina inflation  euro

Euro

The euro is the official currency of 16 out of 27 European Union member state of the European Union . The states, known collectively as the Eurozone are: Austria, Belgium, Cyprus, Finland, France, Germany, Greece, Republic of Ireland, Italy, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia, and Spain....
40 .3399 Belgian

Belgian franc

The franc was the currency of Belgium until 2002 when the euro was introduced into circulation. It was subdivided into 100 centiem , centimes or Centime ....
 or Luxembourgian francs 2002 Belgium Luxembourg monetary union Eurozone

Eurozone

The Eurozone is a currency union of 16 Member State of the European Union which have adopted the euro as their sole legal tender. It currently consists of Austria, Belgium, Cyprus, Finland, France, Germany, Greece, Republic of Ireland, Italy, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia and Spain....
euro

Euro

The euro is the official currency of 16 out of 27 European Union member state of the European Union . The states, known collectively as the Eurozone are: Austria, Belgium, Cyprus, Finland, France, Germany, Greece, Republic of Ireland, Italy, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia, and Spain....
30 .1260 Slovak koruna

Slovak koruna

The Slovak koruna or Slovak crown was the currency of Slovakia between 8 February 1993 and 31 December 2008. The ISO 4217 code was SKK and the local abbreviation was Sk....
2009 Slovakia

Slovakia

Slovakia . It was amended in September 1998 to allow direct election of the president and again in February 2001 due to EU admission requirements....
  monetary union Eurozone

Eurozone

The Eurozone is a currency union of 16 Member State of the European Union which have adopted the euro as their sole legal tender. It currently consists of Austria, Belgium, Cyprus, Finland, France, Germany, Greece, Republic of Ireland, Italy, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia and Spain....
Peso moneda nacional 25   Peso moneda corriente

Argentine peso moneda corriente

The peso moneda corriente was an inconvertible Argentine currency which circulated between 9 January, 1826, and 4 November, 1881. Its symbol was $m/c....
1881 Argentina inflation  euro

Euro

The euro is the official currency of 16 out of 27 European Union member state of the European Union . The states, known collectively as the Eurozone are: Austria, Belgium, Cyprus, Finland, France, Germany, Greece, Republic of Ireland, Italy, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia, and Spain....
1 .95583 Deutsche Mark

German mark

The Deutsche Mark or German mark was the official currency of West Germany and, from 1990 until the adoption of the euro, all of unified Germany....
2002 Germany

Germany

Germany , officially the Federal Republic of Germany , is a country in Central Europe. It is bordered to the north by the North Sea, Denmark, and the Baltic Sea; to the east by Poland and the Czech Republic; to the south by Austria and Switzerland; and to the west by France, Luxembourg, Belgium, and the Netherlands....
  monetary union Eurozone

Eurozone

The Eurozone is a currency union of 16 Member State of the European Union which have adopted the euro as their sole legal tender. It currently consists of Austria, Belgium, Cyprus, Finland, France, Germany, Greece, Republic of Ireland, Italy, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia and Spain....
Cruzeiro (third)

Brazilian cruzeiro

The cruzeiro was the currency of Brazil from 1942 to 1986 and again between 1990 and 1993.The first cruzeiro circulated between 1942 and 1967 and had the symbol or ? and the ISO 4217 code BRZ....
1   Cruzado Novo

Brazilian cruzado

The cruzado replaced the second Brazilian cruzeiro in 1986, at a rate of 1 cruzado = 1000 cruzeiros and was replaced in 1989 by the Brazilian cruzado novo at a rate of 1000 cruzados = 1 cruzado novo....
1990 Brazil renaming  Karbovanets (third)

Ukrainian karbovanets

The karbovanets has been a distinct unit of currency in Ukraine during three separate periods. The name is also used in the Ukrainian language for the ruble....
1   Soviet ruble

Soviet ruble

The ruble or rouble was the currency of the Soviet Union. One ruble is divided into 100 kopeks, kopecks, or copecks ....
1992 Ukraine    euro

Euro

The euro is the official currency of 16 out of 27 European Union member state of the European Union . The states, known collectively as the Eurozone are: Austria, Belgium, Cyprus, Finland, France, Germany, Greece, Republic of Ireland, Italy, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia, and Spain....
0 .787564 Irish pound

Irish pound

The Irish pound or punt ?ireannach was the currency of Republic of Ireland until 2002. Its ISO 4217 code was IEP, and the usual notation was the prefix ?, or IR? where confusion might have arisen with the pound sterling or other pound ....
2002 Ireland monetary union Eurozone

Eurozone

The Eurozone is a currency union of 16 Member State of the European Union which have adopted the euro as their sole legal tender. It currently consists of Austria, Belgium, Cyprus, Finland, France, Germany, Greece, Republic of Ireland, Italy, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia and Spain....
euro

Euro

The euro is the official currency of 16 out of 27 European Union member state of the European Union . The states, known collectively as the Eurozone are: Austria, Belgium, Cyprus, Finland, France, Germany, Greece, Republic of Ireland, Italy, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia, and Spain....
0 .585274 Cypriot pound

Cypriot pound

The pound, also known as the lira , was the currency of Cyprus, including the Sovereign Base Areas in Akrotiri and Dhekelia, until 31 December 2007, when the Republic of Cyprus adopted the euro....
2008 Cyprus monetary union Eurozone

Eurozone

The Eurozone is a currency union of 16 Member State of the European Union which have adopted the euro as their sole legal tender. It currently consists of Austria, Belgium, Cyprus, Finland, France, Germany, Greece, Republic of Ireland, Italy, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia and Spain....
Austro-Hungarian krone

Austro-Hungarian krone

The Krone or korona was the official currency of the Austria-Hungary from 1892 until the dissolution of the empire in 1918. The subunit was one hundredth of the main unit, and it was called Heller in the Austrian and fill?r in the Hungarian part of the Empire....
0 .5 gulden/forint

Austro-Hungarian gulden

The Gulden or forint was the currency of the Austria-Hungary between 1754 and 1892 when it was replaced by the Austro-Hungarian krone as part of the introduction of the gold standard....
1892 Austria-Hungary monetary union Latin Monetary Union

Latin Monetary Union

The Latin Monetary Union was a 19th century attempt to European integration several European Currency into a currency union that could be used in all the member states, at a time when most national currencies were still made out of gold and silver....
euro

Euro

The euro is the official currency of 16 out of 27 European Union member state of the European Union . The states, known collectively as the Eurozone are: Austria, Belgium, Cyprus, Finland, France, Germany, Greece, Republic of Ireland, Italy, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia, and Spain....
0 .429300 Maltese lira

Maltese lira

The lira was the currency of Malta from 1972 until 31 December 2007. The lira was abbreviated as Lm, although the traditional ? sign was often used locally....
2008 Malta monetary union Eurozone

Eurozone

The Eurozone is a currency union of 16 Member State of the European Union which have adopted the euro as their sole legal tender. It currently consists of Austria, Belgium, Cyprus, Finland, France, Germany, Greece, Republic of Ireland, Italy, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia and Spain....
Peso moneda corriente

Argentine peso moneda corriente

The peso moneda corriente was an inconvertible Argentine currency which circulated between 9 January, 1826, and 4 November, 1881. Its symbol was $m/c....
  Real

Argentine real

The real was the currency of Argentina until 1881. From 1822, it was subdivided into 10 decimos. The Argentine sol was also issued during this period and was equal to the real, whilst the peso was worth 8 reales and the escudo was worth 16 reales....
1826 Argentina   Second Zimbabwean dollar

Zimbabwean dollar

The dollar is the currency of Zimbabwe. It is subdivided into 100 Cent . It is normally abbreviated with the dollar sign $, or alternatively Z$ to distinguish it from other dollar-denominated currencies....
1,000   (first) dollar 2006 Zimbabwe inflation  Zimbabwe Third Dollar

Zimbabwean dollar

The dollar is the currency of Zimbabwe. It is subdivided into 100 Cent . It is normally abbreviated with the dollar sign $, or alternatively Z$ to distinguish it from other dollar-denominated currencies....
10 billion   Zimbabwe Second Dollar 2008 Zimbabwe Hyperinflation Zimbabwe Fourth Dollar

Zimbabwean dollar

The dollar is the currency of Zimbabwe. It is subdivided into 100 Cent . It is normally abbreviated with the dollar sign $, or alternatively Z$ to distinguish it from other dollar-denominated currencies....
1 trillion   Zimbabwe Third Dollar 2009 Zimbabwe Hyperinflation |}

See also

• Least valued currency unit
  Least valued currency unit
  
  The least valued currency unit is the currency in which a single unit buys the least number of any given other currency or the smallest amount of a given good....
  
• Highest valued currency unit
  Highest valued currency unit
  
  The highest valued currency unit is the currency in which a single unit buys the highest number of any given other currency or the largest amount of a given good....
  
• Devaluation
  Devaluation
  
  Devaluation is a reduction in the value of a currency with respect to other monetary units. In common modern usage, it specifically implies an official lowering of the value of a country's currency within a fixed exchange rate system, by which the monetary authority formally sets a new fixed rate with respect to a foreign reference currency....
  
• Inflation
  Inflation
  
  In economics, inflation is a rise in the general price level of goods and services in an economy over a period of time. The term "inflation" once referred to increases in the money supply ; however, economic debates about the relationship between money supply and price levels have led to its primary use today in describing price inflatio...
  
• Chronic inflation
  Chronic inflation
  
  Chronic inflation is characterized by much higher price increases than ordinary inflation, at annual rates of 10% to 30% in some industrialized nations and even 100% or more in a few developing countries....
  
• Hyperinflation
  Hyperinflation
  
  File:Bundesarchiv Bild 102-00104, Inflation, Tapezieren mit Geldscheinen.jpgIn economics, hyperinflation is inflation that is very high or "out of control", a condition in which prices increase rapidly as a currency loses its value....
  
• Decimalisation
  Decimalisation
  
  In the management of currency, decimalisation is the process of converting from traditional denominations to a "decimal" system, usually with two units differing by a factor of one hundred....
  
• Decimal currency
• Non-decimal currencies
  Non-decimal currencies
  
  A non-decimal currency is one which has sub-units that are a non-decimal fraction of the main unit.Today, only two countries in the world use non-decimal currencies....
  
• Denomination (postage stamp)
  Denomination (postage stamp)
  
  A denomination is the price of a postage stamp. The denomination of stamps does not necessarily correspond to local denomination s.Often, as in the case of bi-secting stamps, brand "new" denominations are created that are nothing like ? for instance ? the decimal system the coins or currency are based on....