Saturday, September 13, 2008

Hyperinflation

On 19 July 2008, the Reserve Bank of Zimbabwe announced plans to introduce a Z$100 billion bank note.

On July 30, 2008, the Governor of the RBZ, Gideon Gono announced that the Zimbabwe dollar would be redenominated by removing 10 zeroes, with effect from August 1, 2008. ZWD10billion will become 1 dollar after the redenomination.
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2 comments:

Jacky said...

I became a millionaire the first month i earned money here in Indonesia. Nothing extraordinary really, considering how money is also taken away from you tens/hundreds of a thousand each time you have a meal in a street stall/restaurant. It must be a similar situation in Zimbabwe.

4:44 PM
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