To continue on with my previous post:
The exchange rate in Zimbabwe is now 5 million Zim to one US dollar.
That’s. Fucking. Insane.
There are no words…
January 2nd, 2008
6 Comments
To continue on with my previous post:
The exchange rate in Zimbabwe is now 5 million Zim to one US dollar.
That’s. Fucking. Insane.
God Bless Zimbabwe
Gah. What happens when something like this spirals out of control? Hrm.
By that I mean, totally out of control, not the screaming decent into madness that is happening now.
Yeah, I’m pretty sure that’s already happening… :)
True. I’m just wondering what happens when/if a government gives up on trying to keep it’s currency valid.
They already have. Technically, Zimbabwe doesn’t have a currency. They have bearer cheques, with an expiration date on them. I brought home a 10,000 zim note — that expired two months before I got there. They were still in use, because there was no replacement currency yet.
In 2006, they dropped the last three numbers off of their currency. So, by that standard, the 5,000,000 that you’d use to buy one US $ NOW is actually 5,000,000,000.
Unfortunately, they keep printing more, which is a really great way to make the inflation Even Worse. :)