Search results
Results from the WOW.Com Content Network
The German currency was relatively stable at about 90 marks per dollar during the first half of 1921. [7] Because the Western Front of the war had been mostly fought in France and Belgium, Germany came out of the war with most of its industrial infrastructure intact, leaving it in a better place economically than neighbouring France and Belgium ...
Brazilian Finance Minister Guido Mantega, who made headlines when he raised the alarm about a currency war in September 2010. Currency war, also known as competitive devaluations, is a condition in international affairs where countries seek to gain a trade advantage over other countries by causing the exchange rate of their currency to fall in relation to other currencies.
A specimen of a 1922 One Chervonets banknote. Hyperinflation in early Soviet Russia was ultimately halted by the adoption of such gold-backed currency.. Hyperinflation in early Soviet Russia connotes a seven-year period of uncontrollable spiraling inflation in the early Soviet Union, running from the earliest days of the Bolshevik Revolution in November 1917 to the reestablishment of the gold ...
During the Second World War, Germany established fixed exchange rates between the Reichsmark and the currencies of the occupied and allied countries, often set so as to give economic benefits to German soldiers and civilian contractors, who were paid their wages in local currency. The rates were as follows:
After the First World War, according to article 206 of the Treaty of Saint-Germain, the Austro-Hungarian Bank had to be liquidated and the Austro-Hungarian krone had to be replaced with a different currency, [3] which in the case of Hungary was the Hungarian korona. This currency suffered a high rate of inflation during the early 1920s.
The price of one gold mark (358 mg of pure gold) in German paper currency at the end of 1918 was 2ℳ︁, but by the end of 1919 a gold mark cost 10ℳ︁. [18] This inflation worsened between 1920 and 1922, and the cost of a gold mark (or conversely the devaluation of the paper mark) rose from 15ℳ︁ to 1,282ℳ︁. [18]
When Benito Mussolini took over as Prime Minister of Italy in 1922 the economy was in a bad state following World War I. Between 1922 and 1925, the financial and economic situation generally improved dramatically and this helped to increase the power of Italy, who strived to be one of the world's leading countries.
The paper money of the Hungarian korona was part of the circulating currency in the post-World War I Kingdom of Hungary until the introduction of the pengő in 1927. The variety of the banknotes and treasury notes and the variety of issuing authorities reflect the chaotic postwar situation in the country.