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Message Subject
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Must Watch! Living Through Hyperinflation - Real World Advice From a Romanian Survivor
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Poster Handle
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RomanianGuy |
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Post Content
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I thought one of the salient points was that once the cycles of inflation begin, you loose your money very quickly. In the first few cycles. And the banks close, also slowing any last minute changes to your monetary situation. In two years money went from being able to buy 3 houses to being able to buy a TV.
Quoting: Eilonwy The ROL/USD exchange rate went like this (ROL was the Romanian currency): - 1990 - ROL 20 for 1 USD - 1991 - ROL 76 - 1992 - ROL 307.9 - 1993 - ROL 760 - 1994 - ROL 1,655 - 1995 - ROL 2,033 - 1996 - ROL 3,082 - 1997 - ROL 7,167 - 1998 - ROL 8,876 - 1999 - ROL 15,333 In 1990 a two-room apartment in Bucharest could be bought for USD 11,000. So ROL 220,000. Let's assume a person kept the ROL 220,000 untouched, hoping to buy the apartment later. In 1993 the ROL 220,000 would only amount to... USD 290. A JVC video-recorder had a cost of USD 2,500 in Romania in 1993.
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