A currency few people want to hold as it is continuously depreciating, except in the periods when the inducement of high interest rates encourages foreigners to hold deposits of it. The currencies of Italy, Iceland and Mexico were of this kind for many...

Soft currency indicates a type of currency whose value may depreciate rapidly or that is difficult to convert into other currencies. It is generally less desirable than hard currency to users. Soft currency can be in the form of paper, electronic or...