Economic shocks of Zimbabwe – It’s easy to become a Billionaire

Written by Amit Agarwal on Dec 6, 2008

This South African country is on the verge of collapse with its economy, public health and food facing the worst crisis which one could ever imagine.

Zimbabwe is experiencing a major currency shortage, which has led to hyperinflation and the current inflation rate is a staggering 231 million%. The prices there are doubling on a daily basis and 200,000 Zimbabwe Dollar is used to buy a loaf of bread.

As a result of this crisis, the Reserve Bank of Zimbabwe has launched a 200 million dollar note which is worth just 28 US Dollars. As on 6-Dec-08, value of 1 Indian Rupee = 2196 Zimbabwe Dollar.

As per forecasts, the inflation of Zimbabwe can go as high as 89.7 sextillion. Each sextillion is equal to 10 multiplied 21 times, consider the figure when million is just 10 multiplied six times.

Wonder what will happen, if one goes out to buy a car, infact he may need the whole car full of notes then.

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