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They ditched it twice: from lira to shekel and then from shekel to new shekel.
by dsq 8y ago
They ditched it twice: from lira to shekel and then from shekel to new shekel.
- tlb 8y agoThe change from pound to shekel was motivated by wanting a Hebrew name. This change was decided long before hyperinflation started, and didn't have much economic effect. The change from shekel to new shekel was a 1000x redenomination, done after inflation was under control, reflecting the way people already talked about prices (in thousands). This is different from the sense of 'ditch' in the previous conversation, which meant that the old currency became suddenly worthless.