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Unread Mar 21st, 2007, 06:39 PM   #7 (permalink)
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Join Date: May 2006
Location: Melbourne, Australia
Posts: 396

Originally Posted by .pi.
I went to Serbia, to meet a friend, in 2003. She gave me a bank note that was still valid currency in Serbia in 1994. The nominal value of that bank note is five hundred billion dinars. In reality, it's worth 2 euros (or about $2.5 or so).

When I talked about it with her mother, she said that shops changed their prices twice a day; once in the morning, and once in the evening. The only way to have money that kept its value was to change all your dinars to some other currency, like German marks like she did. Bad thing for those with lots of savings, but an absolute blessing to those in debt. My friend's mother bought an approx. 80m2 apartment for 216 German marks. She also spent insane amounts of money with cheques, since she knew the debt will be nothing in a matter of days.

Here's a photograph of the note:
Awesome story!

I never realised things could get to the point of changing prices twice a day.

The same thing happened in Germany after the second world war; no surprise there.

As for changing your currency into marks, or something else, does this mean that the amount of exchange bureaus around the country would explode? Anyone who owned one would become rich, even?

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