Redenomination

Redenomination

A reduction in the face value of a currency that a government or central bank makes because of hyperinflation or chronic weakness as a currency. For example, a country may declare that a "new" dollar is worth 1,000 "old" dollars and print new denominations reflecting this change. This may or may not stem the tide of inflation, depending on how the redenomination is approached and what other steps are taken.
References in periodicals archive ?
The BOK governor remains cautious on redenomination because a currency redenomination may have a negative impact on the real-estate market and prices for consumer goods.
The redenomination of Depa's listing currency from US Dollars to UAE Dirhams is expected to increase the attractiveness of its shares to regional institutional and retail investor bases, which in turn should lead to increased investor interest, improved liquidity and more efficient pricing.
Independence on its own would neither lead to a sovereign default nor to an exit of an existing eurozone member, which caused consternation earlier in the decade given fears of sovereign redenomination risk, related banking stress and legal precedents that seeped across the bloc.
It brought on the development of redenomination risk and thereby threatened the integrity of our currency.
Those arguing for a return of redenomination risk in Europe may again be underestimating the commitment of its major players to keep it together.
Christopher Green investigates the possibility (or existent reality) for expansion of the Sino-North Korean border economy to the rest of North Korea, focusing on the medium currency for asset storage, which became a critical issue for ordinary people in North Korea following redenomination in 2009.
The simplest option is redenomination of purchases from vendors abroad, or of revenues," Koester says.
In Moody's view, EAA CBB's local-currency deposit rating remains constrained by certain elements of the Aa1 country ceiling for Ireland, in particular the risk of currency redenomination.
Not at last, there were mentioned certain crimes which within the context of the reform related to the criminal law either were not subject to any redenomination (which is the case of the embezzlement crime), or continued to be governed by special legislative deed not targeted or partially targeted by the amendments in the analysed legislative deed (which is the case of the crimes provided by Law no.
We note that the redenomination of contracts would have been much easier if this reform had been implemented during the convertibility period, as Hanke and Schuler suggest.
This suggests that our index is measuring the systemic risk which was behind the redenomination risk discussed by the European Central Bank President Mario Draghi.
Since his election President Berdimuhamedow unified the country's dual currency exchange rate ordered the redenomination of the manat reduced state subsidies for gasoline and initiated development of a special tourism zone on the Caspian Sea.