Debasement the intrinsic value of the coinage and so more coins can be made with the same quantity of precious metal. If done too frequently, debasement may lead to a new coin being adopted as a standard currency, as when the Ottoman Akçe was replaced by the kuruş (1 kuru = 120 akçe), with the para (1/40 kuruş) as a subunit. The kuruş in turn later became a subdivision of the lira. Debasement Debasement is the practice of lowering the value of currency. It is particularly used in connection with commodity money such as gold or silver coins. A coin is
Korean currency also got devaluated. This was the reason for the reintroduction of won in 1962 as the official currency unit. South Korean currency was still pegged to the US dollar until in 1997 when it was floated into the world market. The Joseon Dynasty issued its first copper coins. In 1888, shortly before the yang was introduced, a small number of coins denominated in hwan (圜) and mun (文) were minted. Even though the yang had been used in past it was reintroduced as the main currency in 1892. One yang was subdivided in 100 fun, making it the first Korean