Inflation In Zimbabwe

What would you buy with a $ 100 Billion note ?

Planning to buy a Lamborghini Gallardo ?
Then think again, its 100 Billion Dollars, it may not only get you a car, but can even make you a partner in that company :)

But how to get this, and is it really that worthy ?
So first of all its neither American nor Canadian dollar, it is from Zimbabwe. Actually presently everyone in Zimbabwe is a billionaire, even beggars on the streets ask only for millions or billions.
So what do you think are these multi-billionaires doing with all that money. Don't be surprised by the fact that they could hardly buy a single bread loaf or may be 3 eggs for 100 Billion Zimbabwe Dollars.

Why?
Simply speaking, their money has lost its value to such an extreme, that having 400-500 Billion Zimbabwe dollars is like having USD 1 with you.
The reason behind this is of course inflation(which is a measure of the increase in prices of goods on a weekly or monthly basis), but here its an extreme condition of inflation called as hyperinflation. You may find the inflation rates of most of the countries at around 5 to 15 %, but in Zimbabwe, in the early 21st century itself inflation rate rose to 600%+ levels, and presently it has crossed 11,200,000% in August 2008.

The first Zimbabwean dollar was introduced in 1980 and replaced the Rhodesian dollar at par. The initial ISO 4217 code was ZWD. At the time of its introduction, the Zimbabwean dollar was worth more than the U.S. dollar, with ZWD 1 = USD 1.47. However, the currency's value eroded rapidly over the years.
Zimbabwe started issuing large bank notes in December, starting with denominations of $250,000. In January, the government issued bills in denominations of $1 million, $5 million, and $10 million -- and in May, it issued bills from $25 million and $50 million up to $25 billion and $50 billion.

So finaly here are the pics of two people who are hardly above the poverty line !!!

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Anonymous
March 30, 2009 11:54 AM delete

mugabe sucks :((

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