And by a reset on currency I mean a reset on the value of their currency. Take Iranian rial for example, their exchange rate is 371,992 to a single U.S. dollar. Could a rial ever have a 1:1 ratio without ever collapsing? I obv not a finance bro
In: Economics
In 1985, the government of Israel replaced its currency, the shekel, with a new currency called the “New Israeli Shekel”, where 1000 old shekels were worth 1 new shekel. So… yes, it’s been done.
(Israel experienced hyperinflation in the 1980s, and after taking steps to fix that problem, the final step was to change the money so that things were priced in small numbers.)
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