4 ms·
Sounds similar to how Romanians will often denominate rent payment and larger settlements in Euros rather than in Leis (RON). In essence, they're doing it for t
by kebman 6y ago
Sounds similar to how Romanians will often denominate rent payment and larger settlements in Euros rather than in Leis (RON). In essence, they're doing it for the same reason; because of the volatility of their own currency. The exception seems to be that this is legal in Romania. I'm not sure the same is true for Venezuela, but please correct me if I'm wrong.
- rjsw 6y agoThere is an expectation that the Euro will become the official currency of Romania at some point.
- cstejerean 6y agoThis happened even before the Euro though, I remember when prices for apartments or cars used to be listed in DEM for example.
- wesammikhail 6y agobut but... I thought we banished volatility?
- mmsimanga 6y agoSame thing is happening in Zimbabwe, different currency. Prices pegged at USD prices. The local currency Zimbabwean Dollar (ZD) is in serious trouble. Inflation sits at 800%[0] on local currency. [0] https://businesstech.co.za/news/trending/408053/zimbabwes-inflation-rate-hits-785-55/ https://businesstech.co.za/news/trending/408053/zimbabwes-in...
- rafaelm 6y agoWith a monthly inflation rate of about 80% [1], yes that's the reason. The local currency is worthless. [1]https://en.wikipedia.org/wiki/Hyperinflation_in_Venezuela#National_Assembly_estimates https://en.wikipedia.org/wiki/Hyperinflation_in_Venezuela#Na...