currency reform
Replacing national tender
Currency reform is a government's deliberate overhaul of its monetary system, typically replacing an existing currency with a new one or dramatically revaluing it.
Reforms often follow periods of hyperinflation, war, or regime change: Post-war Germany underwent currency reform in 1948.
The process may involve exchanging old notes for new at unfavorable rates, effectively wiping out savings.
- exchange rateCurrency conversion value
- inflationSustained price level increase
- legal tenderOfficially recognized payment medium
- monetary policyCentral bank economic controls
- money supplyTotal currency in circulation
denomination · gold standard · central bank · demonetization · banknotes · coinage · monetary system · lopping · quantitative easing · debt restructuring · savings · treasury · black market · austerity · convertibility · crisis · printing press · wheelbarrow
currency reformcurrency collapse
Rapid devaluation of money
hyperinflation · currency crisis · currency debasement · devaluation · inflationary spiral