Talk:Least valued currency unit

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Italian lira needs an honourable mention, as the least valued currency unit of an industrialised nation (and member of the G8 no less). Morwen - Talk 15:18, 23 Jun 2005 (UTC)

  • It may not be a G8 member, but isn't South Korea sufficiently "industrialised" for you? Anyway, the Italian lira doesn't existing anymore! If we can have previous currencies, then what about the Papiermark or the pengo. -- ALoan (Talk) 15:48, 23 Jun 2005 (UTC)

Contents

[edit] Column for value in USD?

I noticed its ommission here. Is there a particular reason? Should I add it in? --Bash 06:35, 30 July 2005 (UTC)

I think you should, i am an european(Swede, though), but I don't think it would be disturbing if you added it next to the Euro column.

USD column added.

[edit] Added relative comparison to least valued currency

To highlight the differences.

Future possibilities: Add column showing relative differences between previous in the column (ie. #21 showing percent increase from #20).

Would be nice if wikipedia periodically queried a Forex server to reload.

I think you mean ROWS instead of columns.

Adding the "relative differences" item is not practical, in my opinion. The rates of these currencies change daily. Also, from an economics point of view I'm not sure of the use of such a figure.

I could not find a forex server that covered all of the currencies in the table. My data came from three different sources. (see note on table)

As I understand it, wikipedia is TEXT based and there is no programming capability. I had to build an excel spreadsheet from data in the three sources and then manually transcribe the results for the 28 currencies to wikipedia. Blair

just popping in here... What about coinmill.com? Would it be possible to use that site with wikipedia? I'm still pretty new to wikipedia so I don't know if that would work or not, but I thought I would mention it. Gecko G 09:41, 18 July 2007 (UTC)

coinmill.com says 1 USD = 250 Zim dollar. Obviously that's the official rate, not the market rate. --ChoChoPK (球球PK) (talk | contrib) 05:11, 15 August 2007 (UTC)
hmm..., well I don't know of anything that gives the market rate for all countries (or even any that give for more than one!), I doubt any such site/thing exists. Guess that means it's time for someone to go out and invent it, good luck to whoever that is, they'll need it! not an easy undertaking. Gecko G 06:40, 15 August 2007 (UTC)

[edit] Euro?

This is the english version of Wikipedia. No english-speaking nation except Ireland uses the Euro, and no offense to the Irish, but they're not one of the dominant english-speaking nations. The equivalents should be in USD, AUSD, CAD, and GBP as well.

  • I've got no wish to defend the Euro, but it is an important world currency (see Reserve currency). --JimmyTheWig 12:54, 17 May 2006 (UTC)

In Zimbabwe , USD is the foreign currency quoted in major forex transactions. I might even suggest removing Euros from the table. It is easy enough for any reader to convert their currency to USD.

[edit] Update needed (Zimbabwe)

This page needs some updating, especially the Zimbabwean currency. The inflation rate which helped them get a Guinness World Record is showing no signs of stopping. Scott Gall 12:15, 9 December 2005 (UTC)

This has been updated as of 27 July 2006. Blair

[edit] Changes (Azerbaijan and Mozambique)

I don't think we should be listing the manat any more, even just as a mention before the table. We'd have to list far too many in due time. Another note – the metical seems to have be revalued, as well, but I haven't seen anything official on it yet, just some hazy Google News reports... Has anyone got details? —Nightstallion (?) 13:12, 2 January 2006 (UTC)

Mozambique postponed the implementation of redenomination until 1 July 2006. This has now been done. The new metical has a currency code of MTN.

The article has been updated to reflect this change. Blair

[edit] Smallest valued banknote / coin

Should this column be added to the table? If this is an article about small currencies then I think this would be interesting. E.g. if the largest banknote in Somalia is worth half a Euro, it would be fascinating to know what the smallest was worth.

--JimmyTheWig 13:00, 17 May 2006 (UTC)

I concur. —Nightstallion (?) 12:48, 18 May 2006 (UTC)
The problem I see is that a currency of low valued unit could have lived for a long time without redenomination, e.g. Turkish lira before 2005. So do we put kuruş coins issued a long time ago, or the smallest of the latest coin series (what if a "coin series" is not well defined), or the smallest practically in use? etc.... --Chochopk 05:01, 8 June 2006 (UTC)


If you consider coins that are currently legal tender , I might suggest the Zimbabwe 1 cent coin, first issued in 1980. Using the Parallel Market rate of Zim $500,000 per USD, that means that there are 500,000 Zimbabwe cents per 1 US cent. Blair

This was changed however in the currency re-denomination. The coins are no longer legal tender--Economic.mip 04:13, 30 March 2007 (UTC)

However, in the currency redenomination, a one revalued cent denomination (paper bearer cheque) was issued. As far as I know the old coins were not demonitized and only the old bearer cheques were. If so, one old Zimbabwe cent now converts at 120 million to one US cent. -- Stannard 04:34, 20 June 2007 (UTC)


I think it's a good idea to include the idea as forwarded by JimmyTheWig - but just include the Largest Denomination in circulation in the said nation [E.G. Somaliland 1000 shilling; Zimbabwe 750,000 Rev$....] Ruby Cored (talk) 14:12, 19 January 2008 (UTC)

[edit] What is before Turkish lira?

We know that Yugoslav dinar definitely holds the place until 1994 (but the rate would be hard to find). But who holds the first place between 1994 and 2005? I have some South American and CIS member currencies in mind, but I'm not sure. --Chochopk 05:06, 8 June 2006 (UTC)

I only have detailed data from 01-01-1994. Here is what my analysis shows.

1994 01 01 Ukraine karbovanets 25,000 per USD;
1994 01 14 Yugoslavia Dinars 250,000 per USD (was only 1,200 on Jan 1; new currency on Jan 27);
1994 01 27 Ukraine karbovanets 25,000 per USD ;
1997 01 01 (Ukraine new currency - hryvnia) ;
Dem. Rep. of Congo (Zaire) 133,000 to 190,000 to 140,000 new Zaires per USD (Jan - June);

1997 07 01 Turkey 145,000 per USD --> (July 1997 until current chart).

Chart updated back to 1990 on June 14. Includes section on Yugoslav dinar 1990-94.

Blair Stannard

I have some doubts about the data. So I put {{dispute}} on the article.
  1. Have you considered these currencies
currency 1 USD now = last redenom redenom ratio Just before redenom, 1 USD =
Transnistrian ruble 8.3215 rubles 2000 1 million  ?
Angolan kwanza 80.58 kwanza 1999 1 million 5.4 million
  1. Yugoslav dinar was indeed losing its value fast in the early 90s, but was it possible that on one of the very days of redenomination, the dinar lost its position of "least valued currency unit" for days to some other mildly inflated currencies?
  2. When was zaire converted into franc? 1997? 1998? this comprehensive webpage says 1998.
  3. Ukrainian karbovanets was converted into hryvnia on September 2, 1996 :--Chochopk 03:27, 15 June 2006 (UTC)
1. Transnistrian ruble: As this currency is not traded outside Transdnistra it should probably only be in the footnotes.
Angolan kwanza: I am looking into this
  1. Do you have these dates? Can you supply monthly (or more frequent) exchange rates for the dinar to US Dollar, from 01 January 1990 to 31 December 1994? If not, I suggest we leave the entry the way it is. None of my sources have this data. I hope that you do.
  2. I have added note to the table. The Turkish Lira replaced the Zaire as smallest currency on June 30, 1997. However the conversion from new Zaires to Congolese francs only took place one year later on 30 June 1998.
  3. A modification and note were added to the table to cover this.

—The preceding unsigned comment was added by 209.226.121.78 (talk • contribs) 20:33, 15 June 2006 UTC.

First, it is NOT nice to remove other people's comments, even if they are outdated. It is not up to you to decide what to take down. We may, however, archive old stuff to some archive page like "Talk:Least valued currency unit/archive".
And do NOT reply my comment inline. Who would know what are my words and what are yours. Create another section.
I modified this talk page accordingly to my 2 points above
No, I do not have exchange rate data by day, nor by month. But I knew Yugoslav dinar would be a problem. That's why I didn't do anything to the article in the first place.
Lack of correct data does not justify putting incorrect information there. If Yugoslav dinar was bigger than some currencies for 3 days, that is 3 days too much. During hyperinflation, "a few days" is not a neglectable amount. You might be wondering "Then do we need to be so precise down to the second?". That is a problem of "lack of precision", and it is different from correctness. When Romanian leu took the first place on 1/1/2005, we know the "change point" was at some point around 1/1/2005, and there was one point only. At what second, we don't have a precise answer. But what you did to Yugoslav dinar was to make possibly 2 or more points into 1.
--Chochopk 03:02, 16 June 2006 (UTC)

The table was modified to include the Angolan Kwanza on 17 June. One result of this action was to eliminate the Zaire from the table. Either the kwanza or the Turkish lira was smaller in value than the zaire at any point.

In regard to the Yugoslav Dinar, should we just delete the entry (1990-93) from the table? —The preceding unsigned comment was added by 209.226.116.19 (talk • contribs) 18:06, 17 June 2006 UTC.

In my humble opinion, yes. I'm not sure what other people think. But it seems like we are the only 2 people talking here.
Have you considered getting a log in name?
--Chochopk 20:03, 17 June 2006 (UTC)

The entry for Yugoslav dinar (1990-1993) has been deleted from the table.

But surely there is some data before 1994... 1994 is really recent, I was thinkign that the earliest date should be around 18xx. —Preceding unsigned comment added by 219.77.98.166 (talk • contribs) 13:15, 16 September 2006
Maybe. If you can find reliable data, that'd be great. But it's better to be missing information than having it wrong. --ChoChoPK (球球PK) (talk | contrib) 11:32, 18 September 2006 (UTC)

[edit] NK won rate

The rate for KPW that I cited comes from an actual real world transaction in which I bought KPW. Since this was done in Beijing, which I consider to be the source of all KPW banknotes sold to the global hobby market I consider it to be reflective of free market rates on the KPW. Since I am new here, I am not exactly sure how to treat this kind of info. Silentcity 20:47, 21 September 2006 (UTC)

Thanks for the reply. What is the date of your exchange? --ChoChoPK (球球PK) (talk | contrib) 08:36, 27 September 2006 (UTC)

[edit] Zim Dollar

At the rate the Zimbabwean dollar's black-market value is going, it will be first again in a month or two. Since all cited black-market exchange rates are approximations, how should we handle the "Value in Zimbabwean dollars" column when this happens? Should we just calculate it as if it were an exact value? Nik42 20:14, 13 March 2007 (UTC)

I think a remark should be fine. --ChoChoPK (球球PK) (talk | contrib) 07:31, 14 March 2007 (UTC)

[edit] Bolívar

If we're using the parallel market for the Zim dollar, shouldn't it be the same for the Bolívar? It's parallel market value is hovering around 3800 or 3900 to the dollar —Preceding unsigned comment added by 200.118.40.95 (talk • contribs) 19:30, 9 April 2007

If you have the source, you're welcome to edit. --ChoChoPK (球球PK) (talk | contrib) 17:22, 16 April 2007 (UTC)

[edit] German Papiermark

I miss the germany currency after the first world war...it was less valued than any of the currencies which are showed here. —Preceding unsigned comment added by 85.216.102.30 (talk • contribs) 20:17, 27 April 2007

Have you ever tried the Pengő?? Ruby Cored (talk) 14:23, 19 January 2008 (UTC)

[edit] Current vs Historic

Is there a reason for the Historic table being before the current table? I would have thought the other way round would make more sense... --Tango 19:57, 21 May 2007 (UTC)

Most of the historical articles are written from past to present. See History of France. --ChoChoPK (球球PK) (talk | contrib) 05:42, 22 May 2007 (UTC)
But this isn't an historical article. Most articles which include a history section have the current situation at the beginning and the history as a subsection. --Tango 10:26, 22 May 2007 (UTC)
Good point. I think it's because early versions of this page only listed a few historic least-valued currencies (for example, see this version), and the table for current units was added later, initially just as a list (and, wow, look at how tiny the number for ZWD is ...). I think it probably should be reorganized. Nik42 (talk) 02:15, 15 March 2008 (UTC)

[edit] Revaluation plans?

I've heard of no such plans for Colombia and Iran -- and cites for that? —Nightstallion (?) 12:07, 6 June 2007 (UTC)

Check their respective articles where it has been debated in each country whether to revalue their currencies.Einsteinboricua 11:10, 13 June 2007 (UTC)


[edit] Ukrainian Karbovanets

I always thought it would've gotten a mention here - since I read in the "Top 10 of everything [1996]" that it listed the Karbovanets being the least valued currency at around 610,000 to the then british pounds; which is about 350,000 to back then US$ and preceded the turkish lira.

I remember it clearly because it said in the footnote in the lines of "£1.62 worth of assets in Ukraine is enough to declare you a Millionaire" Ruby Cored (talk) 14:22, 19 January 2008 (UTC)

Angola's currency was worth less at the time Nik42 (talk) 02:46, 15 March 2008 (UTC)

[edit] Cross-rates for ZIM Dollar

I'll remove the cross rates for the Zimbawen Dollar and replace them with rates against the Euro. The rates for the ZIM Dollar are almost invaribly grossly wrong (bases on rates of 2-5 ZIM$ to the US$). As no-one can really keep up with the rates due to Hyperinflation in Zimbabawe, the cross rates are not practical. Passportguy (talk)

No, I think the cross-rates SHOULD be there. They've been in this page for a long time, and give a good idea of the weakness of the Zimdollar. Why do you say they're "invariably grossly wrong"? If you insist, we can have all three, Euro, ZWD and USD, as in the highest valued currency unit page. Besides which, you really shouldn't change the page unilaterally without discussion. Nik42 (talk) 21:40, 29 May 2008 (UTC)
I'm fine with having all three. However I want do to note that with the ZIM$ im hyper-inflation rates will be highly speculative and be outdated even as they are being put on the page, as there is, to my knowledge, no (online) up-to-date resource for ZIM$ rates - offical or black-market - and rates on the page are almost always a based on published rates a couple of days to weeks old. At over a million percent inflation, a few days makes a world of a difference. Passportguy (talk) 23:54, 29 May 2008 (UTC)
True, but the same argument applies for the Zimbabwean dollar entry on the table itself. Nik42 (talk) 00:28, 30 May 2008 (UTC)
Except for the fact that it's a lot easier to enter values for one entry than the entire table and the time it takes to calculate all of the changes. The value in Zimbabwean dollars column needs to go. 72.209.178.174 (talk) 10:10, 7 June 2008 (UTC)
Normally I'd disagree, saying that one shouldn't edit only a single entry. However, given that the value of the ZWD can change radically in a single day, while most of the other entries will change only a very tiny amount in that period, making editing their entries unnecessary, you have a point there. Nik42 (talk) 19:14, 7 June 2008 (UTC)
When (or if) the currency somewhat stabilizes it should be reintroduced, but I agree with deleting it at the present. 39.185.930.27 (talk) 23:56, 8 June 2008 (UTC) —Preceding unsigned comment added by 72.209.178.174 (talk)

I agree that they should be removed for now. $1000000000ten0one1 (talk) 08:34, 9 June 2008 (UTC) 08:34, 9 June 2008 (UTC)

[edit] ZIM$ offical vs black market rates

The table lists rates published on http://www.siyabonga-tatenda.com/zimmoney.html which are atleast semi-black market. Official rates seem to be published by the RBZ at http://www.rbz.co.zw/fca/fca.asp, but those are persistantly only around 40-50 % of the black market rates, e.g. for June 11 2.15 billion to the US$, in lieu of ZIMMoney's 4.91 billion. Which one should we use on the wikipage table ? Passportguy (talk) 15:05, 11 June 2008 (UTC)