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re: Belarus' new currency debuts today
Posted on 7/1/16 at 8:27 am to CtotheVrzrbck
Posted on 7/1/16 at 8:27 am to CtotheVrzrbck
quote:History has shown, especially in former Soviet Union countries, that the name of the currency has no effect on future inflation. It's just ink on paper spread around differently.
Belarus' new currency debuts today
Any ripples to be expected?
I was working in Moscow when the "new" ruble was introduced in the 1990's. All the government did is knock 3 zeros off the currency. A 10,000 ruble note became a 10 ruble note.
Inflation remained the same afterwards.
1
Posted on 7/1/16 at 11:48 am to LSURussian
that's pretty much what I've read. 4 zeros are coming off today. This is the 3rd revaluation of their Ruble since Lukashenko took power.
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