| In October 1981 the Deutschmark and the Dutch guilder were revalued, while the French franc and the lira were devalued. |
| We explained the puzzle by pointing to the high value of the guilder, then the Dutch currency. |
| That is, prices start at the highest point, usually a guilder per stem, and fall until a buyer finds an agreeable price. |
| Beginning after the Second World War, for every guilder that was spent on highways, a few pfennigs went to building bikeways. |
| The Dutch exchanged their ancient currency, the guilder, for the euro with scarcely a murmur of protest. |
| Most suppliers and wholesalers hiked prices because the guilder was 2.2 to the euro. |
