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Message Subject Iranian central bank announced dropting the zero of Rial today.
Poster Handle Anonymous Coward
Post Content
We did this in Mexico, three zeros, it was just and administrative change because of the huge inflation. thus we now have a 12.80 parity with the USD but in reality is
12800, it does nothing for the economy

this from the bank of mexico's site

Google translate:
In the last quarter of the twentieth century the purchasing power of the coins was reduced due to inflation. This led to issue coins of high denominations, therefore, that the breach of the denomination of fifty dollars and at one point they reached a thousand mint coins and up to five thousand pesos. In this situation and in order to simplify the management of the amounts in national currency, the June 18, 1992 it was established that after 1993 a new unit would be used Monetary System of the United Mexican States, equivalent to 1000 pesos the previous unit. The new unit was named "New Pesos" and identified with the symbol "N $" or putting the word "New". That is, if a person had 5000 pesos before the change of unity, they amount to 5 New Pesos. To comply with the provision of the decree, the Bank of Mexico issued in 1992, a new series of coins in denominations of ten, five, two, and one dollar and fifty, twenty, ten and five cents.

from here [link to www.banxico.org.mx]
 
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