Όταν η Ελλάδα επιστέψει στην δραχμή πόσες χιλιάδες δραχμές θα χρειάζεσαι για ένα δολάριο?
The world’s most worthless currencies
Devaluation is a reduction in the value of a currency with respect to other monetary units. In common modern usage, it specifically implies an official lowering of the value of a country’s currency within a fixed exchange rate system, by which the monetary authority formally sets a new fixed rate with respect to a foreign reference currency. In contrast, (currency) depreciation is most often used for the unofficial decrease in the exchange rate in a floating exchange rate system.
There could be many motives of the devaluation. It stimulates exports of commodities, it restricts import demand for goods and services, and it helps in creating a favourable balance of payments. Almost all the countries of the world have devalued their currencies at one time or the other with a view to achieving certain economic objectives. During the great depression of 1930 devaluation was carried by most countries of the world for the objecting of correcting over-valuation of currencies. For some weak currencies, devaluation is a process without end that leads to completely worthless currencies, such as the ones below:
Currecy | Country | Exchange rate |
Riel | Cambodia | 4035.55 per dollar |
Guarani | Paraguay | 4659.27 per dollar |
Guinean Franc | Guinea | 6884.50 per dollar |
Kip | Lao | 7948.92 per dollar |
Rupia | Indonesia | 8826.13 per dollar |
Rial | Iran | 10,224.9 per dollar |
Manat | Turkmenistan | 14,250 per dollar |
Dobra | Sao Tome and Principe | 17,783.13 per dollar |
Dong | Vietnam | 19,327.13 per dollar |