May 6, 2016

Zimbabwe 100 trillion dollar bank note that is only $0.40 in US

 
 
Dollar is the currency being used in Zimbabwe as a solution to the country's problems with hyperinflation. But its completely worthless when compare with the US dollar.
 
Z$10,000,000,000,000 (ten trillion) and Z$1,000,000,000,000 (one trillion), could be exchanged for U.S. dollars until the end of April 2016, but it was worth only about $0.40.
 
 
Since 2009, Zimbabwe has used other currencies in lieu of its own, which it abandoned after hyperinflation of more than 5,000 percent made it essentially worthless. This system of using multiple currencies has led to a deflation rate of -2.3%, according to Zimbabwe's bank governor.
 
"We changed to a multiple currency system to stabilize, and inflation went down to 0% and it was magic," said the Zimbabwe Reserve Bank Governor, John Mangudya.
 

No comments: