Remonetisation

From Wikipedia, the free encyclopedia

Remonetisation is the process whereby a currency suffering from inflation which adds excessive zeros to even the smallest banknote, has several of those zeros lopped off or shed, restoring the currency to a more normal range of values. Inflation renders small coins valueless if not useless, but remonetisation brings them back into circulation.

[edit] Examples

• - France. In January 1960 the French franc was revalued at 100 existing francs. The old franc became one new centime.

• - Ghana - July 3, 2007 - 10,000 old Ghanaian cedi‎ became 1 new cedi. ^[1]

• - Zimbabwe dollar

• - Italy - the lira ought to have been remonetised for many years, but this was too difficult political. The change came with the introduction of the Euro.

• - Russia - 2000 - 1,000 old Rouble = 1 new Rouble.
• - Belarus - 2000 - 1,000 old Rouble = 1 new Rouble

• - Turkey. On 1 January 2005, the Yeni Türk Lirası (YTL), was introduced. The new lira was worth 1,000,000 old lira.

[edit] See also

• Denomination (currency)

[edit] References

This article or section is incomplete and may require expansion and/or cleanup. Please improve the article, or discuss the issue on the talk page.