For various reasons — ranging from political mismangement, to civil war, to economic sanctions — some countries are unable to maintain a stable domestic currency. These "troubled currencies" are associated with elevated rates of inflation, and in some extreme cases, hyperinflation. Often, it is difficult to obtain timely, reliable exchange-rate and inflation data for countries with troubled currencies.
To address this, the Troubled Currencies Project collects black-market exchange-rate data for these troubled currencies and estimates the implied inflation rates for each country.
Professor Steven H. Hanke
Senior Fellow, Cato Institute
Director of Troubled Currencies
Leading world expert on measuring and topping hyperinflation
Professor of Applied Economics
The Johns Hopkins University
Phone: (410) 516-7183
Current Featured Works
Without a Currency Board, Venezuela’s Opposition Will Fail
by Steve H. Hanke, Forbes.com, January 31, 2019.
Zimbabwe’s Monetary Death Spiral
by Steve H. Hanke, Forbes.com, January 16, 2019.
Venezuela’s Hyperinflation Hits 80,000% per Year in 2018
by Steve H. Hanke, Forbes.com, January 1, 2019.
Erdogan Can Save the Turkish Lira
by Steve H. Hanke, Wall Street Journal, August 12, 2018.
Relevant Reading on Hyperinflation
by Steve H. Hanke and Nicholas Krus, featured in Routledge Handbook of Major Events in Economic History, February 11, 2013.
On the Measurement of Zimbabwe’s Hyperinflation
by Steve H. Hanke, Cato Journal, Spring/Summer 2009.
Venezuela Enters the Record Books
by Steve H. Hanke and Charles Bushnell, World Economics, July-September 2017.
Zimbabwe Hyperinflates, Again
by Steve H. Hanke and Eric Bostrom, Studies in Applied Economics, No. 90, October 17, 2018.
Relevant Reading on Historical Inflation
Steve H. Hanke, The Troubled Currencies Project, Cato Institute - Johns Hopkins University. Retrieved on 03/22/2019. https://www.cato.org/research/troubled-currencies.