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  • 1983 1 1997 2000 June, 2002 March, 2005 Jan, 2006 July, 2006 10 100 1000 10 000 100 000 500 000+

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    The first Zimbabwean dollar was introduced in 1980 to replace the Rhodesian dollar at parity. Over the subsequent decades, hyperinflation caused the value of the dollar to plummet dramatically as the government introduced new currency denominations with higher values. By 2008, inflation had skyrocketed to rates as high as 79.6 million percent per month, and the economy increasingly dollarized as people abandoned the Zimbabwe dollar for foreign currencies on the black market.

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    The first Zimbabwean dollar was introduced in 1980 to replace the Rhodesian dollar at parity. Over the subsequent decades, hyperinflation caused the value of the dollar to plummet dramatically as the government introduced new currency denominations with higher values. By 2008, inflation had skyrocketed to rates as high as 79.6 million percent per month, and the economy increasingly dollarized as people abandoned the Zimbabwe dollar for foreign currencies on the black market.

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    47 views10 pages

    1983 1 1997 2000 June, 2002 March, 2005 Jan, 2006 July, 2006 10 100 1000 10 000 100 000 500 000+

    Uploaded by

    patelhirenk101
    The first Zimbabwean dollar was introduced in 1980 to replace the Rhodesian dollar at parity. Over the subsequent decades, hyperinflation caused the value of the dollar to plummet dramatically as the government introduced new currency denominations with higher values. By 2008, inflation had skyrocketed to rates as high as 79.6 million percent per month, and the economy increasingly dollarized as people abandoned the Zimbabwe dollar for foreign currencies on the black market.

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    of 10

    The first Zimbabwean dollar was introduced in 1980 and replaced the Rhodesian dollar at par

    First Dollar (ZWD)

    1983 1
    1997 10

    2000 100

    June, 2002 1000


    10 000
    March, 2005
    100 000
    Jan, 2006
    500 000+
    July, 2006
    The first Zimbabwean dollar was introduced in 1980 and replaced the Rhodesian dollar at par

    Second Dollar (ZWN)

    Aug, 2006 650


    Sep, 2006 1 000

    May, 2007 50 000

    June, 2007 400 000

    Oct, 2007 1 000 000

    Jan, 2008 6 000 000


    16 000 000
    Feb, 2008
    April, 2008 100 000 000
    777 500 000
    May, 2008
    June, 2008 40 928 000 000

    July, 2008 758 530 000 000


    Third Dollar (ZWR)

    Aug, 2008 1780


    Sep, 2008 590 000

    7 Oct, 2008 2 300 000

    14 Oct, 2008 10 700 000


    1 220 000 000
    21 Oct, 2008
    251 000 000 000
    28 Oct, 2008
    669 000 000 000
    8 Nov, 2008
    - Fact of the Zimbabwe dollar is that ZD — A paper money. During Zimbabwe’s
    hyperinflation, foreign currencies replaced the Zimbabwe dollar in a rapid and
    spontaneous manner. This “dollarization” process was legalized in late January 2009.

    - Even though the Zimbabwe paper money remnant circulates alongside foreign
    currencies, its real value is tiny, its use is limited, and its value against the U.S. dollar
    is cut in half every two days.
    Inflation rate journey of Zimbabwe

    1980 7%
    1981 14 %

    1982 15 %

    1983 19 %

    1984 10 %

    1985 10 %
    15 %
    1986
    1987 10 %
    8%
    1988
    1989 14 %

    1990 17 %
    1991 48 %
    1992 40%
    1993 20 %

    1994 25 %

    1995 28 %

    1996 16 %

    1997 20 %
    1998 48 %
    1999 57 %
    2000 55 %

    2001 112 %
    2002 199 %
    2003 599 %

    2004 132 %

    2005 585 %

    2006 1281%

    2007 66 212 %

    2008 (July) 231 000 000%


    2008 (November) 79 600 000 000%
    Highest Monthly Inflation Rates in History

    Month with Highest Equivalent Time required


    Country highest monthly daily inflation for prices to
    inflation rate inflation rate rate double

    Hungary July 1946 1.30 x 1016% 195% 15.6 hours

    Mid-November
    Zimbabwe 2008 (latest 79,600,000,000% 98.0% 24.7 hours
    measurable)

    Yugoslavia January 1994 313,000,000% 64.6% 1.4 days

    Germany October 1923 29,500% 20.9% 3.7 days

    Greece November 1944 11,300% 17.1% 4.5 days

    China May 1949 4,210% 13.4% 5.6 days


    Vendor of chocolates at
    Harare
    Zim. Dollar 5 Mn required for a
    small quantity of tomato
    (2nd March,2008)

    Zim. Dollar 160 Mn required


    for a bag of potato
    (25th March,2008)

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