Quote:
Originally Posted by Monotony
It's valuation and everything.
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You must be clueless. It means NOTHING.
Few examples:
Turkish lira is about 1.000.000 times more valuable than in 1995. Yet it means nothing.
Latvian lat is one of the most expensive currencies (for 1 lat you get about 2 us dollars). It means nothing.
Another example with Latvian lat - its is 5 times more valuable than Lithuanian litas yet both these Baltic countries have very similar (or same) economy and living. Its just fractions: if liter gasoline in Latvia cost 1 lat, in Lithuania it cost 5 litas. So
value of 1 currency unit means ABSOLUTELY nothing.
Or Norway crowns - for one Latvian lat you get 10 crowns (which is the currency of one of the very top economy countries). It means nothing.
Lets say you have 1.000.000 gfy coins in circulation and 1 unit value is 10$. You can easily re-nominate it and have 10.000.000 gfy coins instead just each coin value would be 1$ now.
So if you spent 1 gfy coin for something now you would spend 10 gfy coins for the same thing. So in theory it lost value big time, but actually it would be the same thing.
I always laugh at idiots on for example travel forums when they base country's prices solely on value of 1 currency unit (meaning that they would think that Latvia is 10 times more expensive than Norway etc)
