Currency that lost its worth

[Grant]

There is such a thing as currency that is no longer usable. I heard years ago a countries currency was so bad, that they moved to a different currency, so the money they did make before, was rendered useless. I remember seeing people selling some of the currency on places like Etsy and Ebay. Have you ever had currency that was worth something one day and then they changed it up, where they went to a different currency in said country, making the money you have now, essentially paper money.

What countries have had this happen? Where their money loses its value due to various reasons.

 

[Nomad]

The value of currency lies in the economic prowess of the country. USD is highly valued because the United States is an economic super power. A lot of currencies have lost their value after the economic conditions in the country failed. Countries with high inflation rates also lose the value of their currency.

 

[Dice]

This can happen due to economic troubles, inflation, or other issues. For instance, Zimbabwe experienced hyperinflation, and their currency lost so much value that they had to print crazy amounts of money just to buy basic stuff. It's a tough situation for people using that currency because their savings can vanish, and it takes a lot more money to buy the same things.

 

[FXOcrypto]

Citing to FXOpen blog, there are 6 currencies as the weakest currencies in Europe, Moldovan Leu (MDL), 1 MDL = 0.0551 USD, Macedonian Denar (MKD) 1 MKD = 0.0118 USD, Albanian Lek (ALL) 1 ALL = 0.0100 USD, Serbian Dinar (RSD) 1 RSD = 0.0090 USD, Hungarian Forint (HUF) 1 HUF = 0.0027 USD, Armenian Dram (AMD) 1 AMD = 0.0024 USD

 

[deucher]

I can't remember which countries did this, but I can give my opinion about the countries that would need to do it. I don't want to offend Turkey, but things are very bad for them and they need to restart their currency due to inflation, because they may face the same situation that was in Venezuela and may still be there when the value of their currency dropped to a minimum and they printed a lot of parera which cost nothing.