Hyperinflation is not an unusual phenomenon. 32 countries have experienced hyperinflation over the last 100 years of which no less than 21 have experienced it in the past 25 years and 3 in the past 10 years. The United States is one of the few countries to have experienced two currency collapses during its history (1812-1814 and 1861-1865).
The following article was originally posted on dollardaze.org by Mike Hewitt and has been edited ([ ]), abridged (…) and/or reformatted (some sub-titles and bold/italics emphases) here for the sake of clarity and brevity to ensure a fast and easy read.
1. Angola (1991-1999)
In the 1995 currency reform, 1 kwanza reajustado was exchanged for 1,000 kwanzas… In the 1999 currency reform, 1 new kwanza was exchanged for 1,000,000 kwanzas reajustados. The overall impact of hyperinflation: 1 new kwanza = 1,000,000,000 pre-1991 kwanzas.
2. Argentina (1975-1991)
In the 1983 currency reform, 1 Peso Argentino was exchanged for 10,000 pesos. In the 1985 currency reform, 1 austral was exchanged for 1,000 pesos argentine.
Hyperinflation continued reaching a peak annualized rate of 4,923.3 percent in December 1989. At that time, government expenditure reached 35.6 percent of GDP and the fiscal deficit was 7.6 percent of GDP.
In 1990 the Argentine government created a new monetary system and established a Currency Board in April 1991. Inflation fell from 1,344 percent in 1990 to 84 percent in 1991. In the 1992 currency reform, 1new peso was exchanged for 10,000 australes.
The inflation rate for 1992 was 17.5 percent, 7.4 percent in 1993, 3.9 percent in 1994 and 1.6 percent in 1995. By 1995, government expenditure represented 27 percent of Argentina’s GDP. The overall impact of hyperinflation: 1 new peso = 100,000,000,000 pre-1983 pesos.
3. Belarus (1994-2002)
In the 2000 currency reform, the rublei was replaced by the new ruble at an exchange rate of 1 new ruble = 2,000 old rublei.
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