Re:20M historical artifacts destroyed in Brazil National Mus...
by tlb on Monday September 03, 2018 @12:33PM
(#17903469)
Israel cured its 400%+ hyperinflation in the mid-80s without ditching their currency, by imposing strict price controls. It took about 2 years to bring it down under 20%.
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Re:20M historical artifacts destroyed in Brazil National Mus...
by dsq on Wednesday September 05, 2018 @11:16AM
(#17918721)
They ditched it twice: from lira to shekel and then from shekel to new shekel.
Re:20M historical artifacts destroyed in Brazil National Mus...
by tlb on Wednesday September 05, 2018 @05:57PM
(#17922245)
The change from pound to shekel was motivated by wanting a Hebrew name. This change was decided long before hyperinflation started, and didn't have much economic effect.
The change from shekel to new shekel was a 1000x redenomination, done after inflation was under control, reflecting the way people already talked about prices (in thousands).
This is different from the sense of 'ditch' in the previous conversation, which meant that the old currency became suddenly worthless.