Tuesday, August 27, 2013

Hyperinflation in Zimbabwe

Zimbabwe is an interesting (and tragic) case of hyperinflation.  Between 1980 and 2000, their rate of inflation fluctuated between 7% and 55%.

In 2001, it was 112%.
2003:                                                                  598%
2006:                                                               1,281%
2007:                                                             66,212%
2008 July:                                             231,150,888%
2009 November:  89,700,000,000,000,000,000,000%

They printed 100 trillion Zimbabwean Dollar notes at one point.  For comparison, in October of 2008, $1 USD was equivalent to Z$ 2.6 trillion.

In 2009, they abandoned their state currency.  They use primarily US dollars now.

http://en.wikipedia.org/wiki/Hyperinflation_in_Zimbabwe

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