Much ado about three nothings
Russia is set to prove that it now has inflation totally under control by knocking three zeros off the value of the rouble. The currency has crumbled to a pathetic 5,300 against the US greenback, but soon will be a much more palatable 5.30 – twice as valuable as the French franc.
Removing a few zeros is a trick that has been used in the past – not always successfully – to restore confidence in the Polish zloty, the Argentine austral, the French franc and – in the dim and distant past – the German mark.
All of which gives Extraordinary Items the perfect excuse to repeat a favourite joke from the early 1980s: What’s the difference between a dollar and a zloty?
A dollar.
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