And you thought our economy's weak?

[marty_e]

1.2 billion Zimbabwe dollars was equal to $52 U.S. dollars.

This was March 23, 2008.

Today the same 1.2 billion Zimbabwe dollars is worth about $0.01 (as in one penny).
Why? Thank the most corrupt and inept Government (Robert Mugabe) on the planet that is
running such poor policy that the inflation rate is above 10,000,000%.

To give you an idea of how bad things are in Zimbabwe, the next highest
inflation rate on the planet is in Burma at 39.5%. This means that any
Zimbabwe dollar you hold is practically worthless in about two weeks.

To understand this impossible situation .... In 2000 a Zimbabwe dollar had
an official exchange rate of 38 to 1 (38 Zimbabwe dollars to get $1). Today
it takes 759 billion Zimbabwe dollars to exchange for $1 dollar (using the
2000 standard). Meaning that the entire value of the country in 2000 is now worth
about 40 cents!

This inflation rate even exceeds Weimar Germany in the 1930s.

You cannot make this stuff up!

[zenaudio]

I think they just decided to take out 10 zeroes from their currency. And contemplating dropping more (zeroes, ie). What a way to solve a problem!

[Mamimili]

Someone should send the people of Zimbabwe an old Philippine newspaper, one with a report on People Power

[raypin]

The hyperinflation regime there reminds me of the stories my grandmother used to tell us about using sacks of worthless money to purchase pandesal during WW II. I feel bad for them but its their country. Unless they reclaim it for themselves, nothing will ever change there. The cowardice of the majority makes it possible for the tyranny of the minority to prevail.

[KD]

Maybe people there should start accepting payment in goods instead of money.

[Oldfogey]

What's the largest denomination bill? And where can I get some?