How did Romania manage to save its currency in the 2000s by just dropping the last couple of zeros? Wouldn’t other countries be able to do the same?

Question

How did Romania manage to save its currency in the 2000s by just dropping the last couple of zeros? Wouldn’t other countries be able to do the same?

In: 138

Answer 1

The process is called redenomination. Lots of countries have done it. I remember being in Poland as a kid and everything costing millions because of hyperinflation after the fall of the USSR. Carrying around a bill with 6 zeros as a little kid felt so big. They downsized 10,000 to 1. So that million became the 100

https://en.wikipedia.org/wiki/Redenomination