Concept
Hungarian pengő
Related concepts (7)
Zimbabwean dollar
The Zimbabwean dollar (sign: to distinguish it from other dollar-denominated currencies) was the name of four official currencies of Zimbabwe from 1980 to 12 April 2009. During this time, it was subject to periods of extreme inflation, followed by a period of hyperinflation. The Zimbabwean dollar was introduced in 1980 to directly replace the Rhodesian dollar (which had been introduced in 1970) at par (1:1), at a similar value to the US dollar.
Long and short scales
The long and short scales are two of several naming systems for integer powers of ten which use some of the same terms for different magnitudes. Some languages, particularly in East Asia and South Asia, have large number naming systems that are different from both the long and short scales, such as Chinese, Japanese or Korean numerals, and the Indian numbering system. Much of the remainder of the world adopted either the short scale or the long scale for everyday counting powers of ten.
Redenomination
In monetary economics, redenomination is the process of changing the face value of banknotes and coins in circulation. It may be done because inflation has made the currency unit so small that only large denominations of the currency are in circulation. In such cases the name of the currency may change or the original name may be used with a temporary qualifier such as "new". Redenomination may be done for other reasons such as changing over to a new currency such as the Euro or during decimalisation.
Hungarian forint
The forint (sign Ft; code HUF) is the currency of Hungary. It was formerly divided into 100 fillér, but fillér coins are no longer in circulation. The introduction of the forint on 1 August 1946 was a crucial step in the post-World War II stabilisation of the Hungarian economy, and the currency remained relatively stable until the 1980s. Transition to a market economy in the early 1990s adversely affected the value of the forint; inflation peaked at 35% in 1991.
Names of large numbers
Two naming scales for large numbers have been used in English and other European languages since the early modern era: the long and short scales. Most English variants use the short scale today, but the long scale remains dominant in many non-English-speaking areas, including continental Europe and Spanish-speaking countries in Latin America. These naming procedures are based on taking the number n occurring in 103n+3 (short scale) or 106n (long scale) and concatenating Latin roots for its units, tens, and hundreds place, together with the suffix -illion.
Hyperinflation
In economics, hyperinflation is a very high and typically accelerating inflation. It quickly erodes the real value of the local currency, as the prices of all goods increase. This causes people to minimize their holdings in that currency as they usually switch to more stable foreign currencies. When measured in stable foreign currencies, prices typically remain stable. Unlike low inflation, where the process of rising prices is protracted and not generally noticeable except by studying past market prices, hyperinflation sees a rapid and continuing increase in nominal prices, the nominal cost of goods, and in the supply of currency.
World War I
World War I or the First World War, often abbreviated as WWI or WW1, known contemporaneously as the Great War, was a major global conflict lasting from 1914 to 1918. It was fought between two coalitions, the Allies and the Central Powers. Fighting took place throughout Europe, the Middle East, Africa, the Pacific, and parts of Asia. The first decade of the 20th century saw increasing diplomatic tension between the European great powers.