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What is hyperinflation?

Hyperinflation is the rapid decrease in the value of a currency, effectively rendering it useless as a medium of exchange. Hyperinflation typically occurs when a state tries to get out of a crisis by printing more and more money – further devaluing it. Notably examples include Germany’s Weimar Republic, Robert Mugabe’s Zimbabwe and Venezuela today.

Zimbabwe's infamous $100 Trillion note. Was worthless soon after being printed due to hyperinflation

Zimbabwe’s infamous $100 Trillion note, was worthless soon after being printed due to hyperinflation