What are the virtual currencies with the lowest price

5. The lowest currency in the world
in recent years, Guinness world has continuously tracked and compared the currencies of various countries in the world. The Turkish currency lira is the lowest in the world and deserves to be rated as "the least valuable currency"< The low value of the Turkish lira is astonishing. The largest denomination of Turkish banknotes is 20 million lire, and the smallest denomination is 250000 lire. Coins of less than 100000 denominations. The face value of Turkish currency is so large that it is very troublesome to calculate and use. For example, the last time the toilet was charged, it would cost 250000 lire, 1 million lire for a kilogram of tomatoes, 199 million lire for a good suit, and the next time a family would spend hundreds of millions or more lire for a restaurant. Millions and tens of millions of these figures are astronomical figures for ordinary Chinese people. However, tens of billions and hundreds of billions of such astronomical figures have become a part of Turks' daily life

our common calculators are not available in Turkey at all. There was a cartoon entitled "millionaire" in an influential newspaper in Turkey: a topless man in a pair of shorts reclines on a bed covered with a large patched sheet, holding a 1 million lira bill< In fact, the Turkish Lira was not astronomical in the first place. At the beginning of the issuance of lira in 1920, the value of 1 Turkish Lira even exceeded 1 US dollar. Even in the early 1980s, the exchange rate between lira and US dollar was still 100:1. At that time, 5 million lira could buy a luxury house, but now lira of the same denomination can only buy 1 jin of beef and mutton. In Turkey, hundreds of thousands of lira can be exchanged for a dollar in the morning, and more than one million lira can be exchanged for a dollar in the afternoon. Stores prefer to trade in foreign currency rather than lira. Civil servants will immediately exchange for foreign currency after receiving salary every month, and some people will consume it quickly after receiving salary, thus playing the role of "preserving value"

the low value of the Turkish lira is mainly e to the financial turmoil in Turkey in early 2001. It is reported that the fuse leading to the financial crisis in Turkey was the sudden exposure of the discord between the prime minister and the president at the beginning of the year and the conflict between the two political giants

at the beginning of this century, when the Turkish government was investigating the corruption of several domestic banks, then Prime Minister erjevit and President seizer went their own ways and did not communicate with each other. According to local media, President seizer began what he called an "independent investigation" into corruption in the banking system; At the same time, Prime Minister ejevit, who is also concting an investigation, accused that the president's practice seriously affected and interfered with his ongoing investigation. In response to the accusations from the government, seizer immediately retorted. He accused the government of trying to cover up the corruption of the banking system, and the government was responsible for it. The two sides were at each other's throats, and finally they were exposed when the contradiction became too intense to be reconciled. In a joint meeting, because of no speculation, Prime Minister edgevitt left halfway, led the cabinet members back to the government office building angrily, and disclosed all this to the media. Once the incident was exposed, it immediately had a huge shock wave on the financial market, and the inflation rate rose sharply. Turkish currency lira plummeted. Overnight, the value of lira fell by about 21%

another important reason for the devaluation of the lira is the untimely announcement by the Turkish government to allow its currency lira to float freely. On February 22, 2001, on the day of free floating of lira, the exchange rate of lira against US dollar plummeted by more than 36%, reaching 1072000 lira against US dollar. There was a run in Ankara, the capital, and Istanbul, the largest city. People lined up outside banks and foreign exchange offices to exchange US dollars. Turkey's National Central Bank says its foreign exchange reserves alone have fallen by more than $7 billion in a day.

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