Anonymous
Anonymous asked in Social ScienceEconomics · 4 weeks ago

if a country is doing a denomination, what will happen?

Update:

suppose a country is changing the value of its currency of 1000 to become 1..... is that good or bad?  what will happen to the economy?

Update 2:

suppose the value of 1000 currency in this country equals to 7 cents of us dollar.  And then the country redominate the 1000 to become 1 and still equal to 7 cents us dollar. 

Update 3:

google "denomination currency" for people who dont know

5 Answers

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  • Oiy
    Lv 4
    3 weeks ago

    It will follow a dependent theory.

  • Anonymous
    4 weeks ago

    it is called "redominating the money currency"

  • 4 weeks ago

    denomination

    /dɪˌnɒmɪˈneɪʃ(ə)n/

    noun

    1.a recognized autonomous branch of the Christian Church.

    "the Presbyterian community is the second largest denomination in the country"

    2. the face value of a banknote, coin, or postage stamp.

    "high-denomination banknotes"

    I see you have added to your question. All currencies lose their value over time with inflation. In some cases the value decreases so fast that large numbers of banknotes are needed for small transactions. The normal thing to do in those circumstances is to revalue and redesign the currency so if previously the currency was in dollars, the new currency would be in new dollars where one new dollar equalled 100,000 old dollars or whatever.

    That is not "doing a denomination" it is revaluing the currency.

  • 4 weeks ago

    I don't know what "doing a denomination" means.

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  • poldi2
    Lv 7
    4 weeks ago

    No idea, what does "doing a denomination" mean...?

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