New High for African Stock Exchange
Just as the S&P 500 Index has done so, the Zimbabwe Stock Exchange Industrial Index has made an
all time high, rising over 53% so far this year. The stock exchange trades in United States dollars.
Runaway Inflation
The economic turnaround for Zimbabwe has been pretty amazing, as just a few years ago, the country had runaway inflation. Several years ago, the
inflation rate of Zimbabwe exceeded 231,000,000% (that was the official rate, some economists believe that it was actually 89,700,000,000,000,000,000,000%). Just to buy three eggs, it had cost 100 billion Zimbabwe dollars.
$100 trillion dollar bill
At that time, the country had been issuing currency as high as $100 trillion dollar bills. Zimbabwe eventually allow several currencies to trade in the country, including the U. S. dollar. Now the
$100 trillion dollar bill is a collector's item and hasn't been printed for several years.
I had written an article back in 2010 in much more detail about Zimbabwe inflation.
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