Just within months after Zimbabwe issued $50 billion banknotes, now Zimbabwe government has issued $100 Billion note which is equivalent to just US$1 only. Current official inflation rate has reached to an exponential 2.2 million percent. Zimbabwe started issuing large bank notes in December, starting with denominations of $250,000. In January, the government issued bills in denominations of $1 million, $5 million, and $10 million -- and in May, it issued bills from $25 million and $50 million up to $25 billion and $50 billion. Current interbank exchange rate as on July 19, 2008 is ZWD 27 164 677 690.87 per US$1. 
Discuss
 Bookmark
 Stumble It!
 Save to del.icio.us
105 Views
 Email
 Tweet This
 Bury
|
|
