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Podcast: My FX Buddies
Episode: Removing zeros and revaluing the Iraqi dinar
Description: Removing zeros and revaluing the Iraqi dinar
link to My FX Buddies Blogpost
The concepts and scientific names in economics differ according to the specialization and the branches derived from it. When talking about the exact specialization, economic variables must be named by their scientific names. One of these names is the term redenomination, or as it is called (removing zeros from the currency). Countries usually resort to it to address rampant inflation and the decline in the value of the local currency, as the old currency is replaced with a new...