Noun
The process of redenominating.
(economics, finance) The recalibration of the face value of a currency, most frequently by multiplying that value by a power of 10, sometimes followed by the demonetization of any cash issued with the original face value.
After the redenomination, the new peso was worth 100 old pesos.
Also in 1990 there was an attempt to reform the currency at 100 to 1, with new banknotes of 20 and 50 new shilin prepared for the redenomination. Source: Internet
New Kwacha (2012 Series) On January 23, 2012, the Bank of Zambia proposed certain measures in regards of the redenomination of the Zambian Kwacha. Source: Internet
While this does not lessen the actual value of a currency, it is called redenomination or revaluation and also happens over time in countries with standard inflation levels. Source: Internet