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The average lifespan of a fiat currency varies widely and depends on a number of factors, such as the stability of the issuing government, economic conditions, war, and global financial trends.

There have been cases of fiat currencies lasting for many years or even decades, such as the US dollar, which has been the dominant global reserve currency for over 70 years. Other currencies, however, have experienced hyperinflation and collapsed in a matter of months or even weeks.

According to a study by the Bank of England, the average lifespan of fiat currencies has been approximately 27 years. However, this figure is heavily influenced by the large number of currencies that have failed due to hyperinflation, political instability, or other extreme factors.

It’s worth noting that the rise of digital currencies, such as Bitcoin and other cryptocurrencies, has introduced a new factor into the discussion of fiat currency lifespans. As these currencies gain wider acceptance and use, they may eventually compete with or replace fiat currencies, further changing the landscape of the global financial system.

Loss in value due to inflation.  It is widely recognized that all fiat currencies experience some level of inflation or depreciation over time, which means that the purchasing power of a unit of currency declines. This is due to factors such as increased money supply, government debt, and economic instability.

1. Increase in money supply: When a central bank prints more money, the money supply in the economy increases, which can lead to inflation if the supply of goods and services does not increase at the same rate. This is often referred to as demand-pull inflation, where too much money chases too few goods.
2. International factors: International events such as changes in exchange rates, oil prices, and global supply chains can affect the prices of goods and services, which can have an impact on inflation.
3. Government policies: Government policies such as taxes, subsidies, and regulations can affect the cost of goods and services, which can impact inflation. Monetary policies, such as interest rates and quantitative easing, can also have an impact on inflation.
4. Increase in production costs: If the cost of production increases, such as the cost of raw materials, labor, or energy, businesses may raise their prices to maintain their profit margins.

In the long run, the rate of inflation or depreciation of a currency can have a significant impact on the wealth and financial well-being of individuals and societies. It is important for individuals to understand and consider the potential effects of inflation on their savings.