Deleting the Zeroes
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Deleting the Zeroes
by Dinarhater Tue Jan 25, 2022 9:55 am
I'm sure this has been discussed at length, but could someone please explain deleting the zeroes? Are there any articles that explains this please? I realize this isn't what people think it is, but I need help explaining it to a family member that invested. Thanks in advance.
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Re: Deleting the Zeroes
by Mission1st Tue Jan 25, 2022 11:14 am
During times of hyperinflation, a country will start adding zeros to the currency. In a textbook situation, they take zeros away as the economy improves. However, in most cases, they just print a new series of currency. Ecuador and El Salvador dropped their currencies entirely and started using the US dollar to curb inflation.
Additionally, countries that have low wages , low industry, and need to export, keep their currencies very low for trade, like Vietnam.
Additionally, countries that have low wages , low industry, and need to export, keep their currencies very low for trade, like Vietnam.
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Re: Deleting the Zeroes
by Sam I Am Tue Jan 25, 2022 4:15 pm
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Re: Deleting the Zeroes
by Dinarhater Tue Jan 25, 2022 4:27 pm
Thank you so much! This is extremely helpful!
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Re: Deleting the Zeroes
by Dinarhater Tue Jan 25, 2022 4:28 pm
Mission1st wrote:During times of hyperinflation, a country will start adding zeros to the currency. In a textbook situation, they take zeros away as the economy improves. However, in most cases, they just print a new series of currency. Ecuador and El Salvador dropped their currencies entirely and started using the US dollar to curb inflation.
Additionally, countries that have low wages , low industry, and need to export, keep their currencies very low for trade, like Vietnam.
Thank you!
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