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by perl4ever
2715 days ago
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It's not very recent. The shilling hit a low point in 2008 and appreciated by over 3000% from 2012-2014. According to what I read the "stability" prior to the central bank was a result of an equilibrium between the value of a note and the value of the paper it was printed on. Since there wasn't a central government printing money, it didn't decline further, but tying up $100 in paper to represent $100 seems pretty suboptimal. |
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