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I lived in Brazil during hyperinflation, and the transition to the Real. During that time we would go buy groceries at the first moment after a paycheck, fillin
by piva00 2y ago
I lived in Brazil during hyperinflation, and the transition to the Real. During that time we would go buy groceries at the first moment after a paycheck, filling up carts to last as long as possible because prices would be changing not just every day but a few times a day, grocery stores would employ people whose only job was to remark prices on the shelves in the morning, afternoon, and evening.
At the time I don't think many people believed that yet another currency change (we had gone through the Cruzado, to Cruzado novo, to Cruzeiro, to Cruzeiro real in a span of 8 years) would solve it, I was too young to understand the plan and it just felt like another annoying swap of currency I needed to do.
The URV (real unity of value) was this abstract thing we could use as benchmark against the previous currency (Cruzeiro real) and the new one being introduced (Real, the one living to this day), the more sweeping changes were broad fiscal reforms, and removing the stupid indexation between prices and wages.