(no subject)

Feb 03, 2009 16:23

Zimbabwe announced a trillion to one redenomination of its currency yesterday. It was trading at 300 trillion to the USD before, and 300 to the USD afterwards. Its last redenomination was in August 2008, when they lopped off 10 zeros, and in August 2006, they did a thousand to one redenomination. It started off at approximately 1.47 USD to the ZWD, yes it was once worth more than a greenback.

Zimbabwe's currency is now at approximately 5 octillionths of the value it had when Robert Mugabe came to power. Nice job with the printing presses, Chairman Bob.

fiat money, hyperinflation, zimbabwe

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