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Rampant inflation increased prices so much that the peso's value fell to a fraction of a U.S. cent. To help stabilize the economy and reduce the number of zeros in prices, Mexico introduced a nuevo peso (new peso) in 1993. Old pesos were exchanged at the rate of 1000 old pesos = 1 new peso, effectively lopping 3 zeros off all prices.
Rampant inflation increased prices so much that the peso's value fell to a fraction of a U.S. cent. To help stabilize the economy and reduce the number of zeros in prices, Mexico introduced a nuevo peso (new peso) in 1993. Old pesos were exchanged at the rate of 1000 old pesos = 1 new peso, effectively lopping 3 zeros off all prices.

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