Give an instance of Demonetisation across the world.

1.	Give an instance of Demonetisation across the world.
Answer» (i) In1873, USA silver coins were demonetised resulting in 5 years of economic depression. As a result, silver was remonetised in 1878. (ii) ln2002, Europe German Marc, French Franc, arid Italian Lira demonetised in favour of Euro issued by European Union to facilitate trade. (iii) In 2015, Zimbabwe Zimbabwean Dollar demonetised in favour of US Dollar, Botswana Pula and South African Rand.

Answer»

(i) In1873, USA silver coins were demonetised resulting in 5 years of economic depression. As a result, silver was remonetised in 1878.

(ii) ln2002, Europe German Marc, French Franc, arid Italian Lira demonetised in favour of Euro issued by European Union to facilitate trade.

(iii) In 2015, Zimbabwe Zimbabwean Dollar demonetised in favour of US Dollar, Botswana Pula and South African Rand.

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