I saw a price for one USA dollar in 1901. I'd like to know how much that would be in today's Japanese yen. Should I convert it to 158 yen (1 dollar = 158 yen) and then apply the inflation rate? (I couldn't find an inflation calculator, so I'm estimating it at around 11,000 yen). Or should I convert it to america 38 dollars (1 dollar = 38 yen) and then to 5,989 yen?
Also, what happens if a country changes its currency? For example, Australia used pennies and shillings in 1901, but switched to dollars and cents in 2026. I don't understand.
I apologize if my explanation is confusing, it is because I am confused.
When converting money across time and currencies, do you convert currency then apply inflation or apply inflation and then convert currency?
byu/gay-sexx inAskEconomics
Posted by gay-sexx
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