Thursday, September 17, 2009
Zimbabwe Inflation Finally Dropping
Zimbabwe has held the modern day record for its outrageous inflation rate, which was an unbelievable 231,000,000% last year. Since the government has allowed the citizens to use currencies from other countries, including the US dollar, the rate has dropped to a very low 0.4% for the month of August, down from 1% for the previous month.
Another interesting side effect is that the Zimbabwean dollar, or for that matter, the one hundred trillion dollar bill that used to be so popular in Zimbabwe last year and the regularly used currency, is hardly ever being used in that country, and has become a collector's item in the United States.
Posted by Stockerblog at 9:53 AM