Redenomination is the process of adjusting the face value of a currency by changing the nominal value of banknotes and coins without altering their real value. This is often done by removing zeros from the currency, essentially converting the existing currency into a new unit of account. For example, in a redenomination, a currency that previously had a value of 1,000 units might be redenominated to a new unit of 1, effectively removing three zeros from the currency.
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