Zimbabwe Inflation Woes

Just saw this article on the Zimbabwe Hyperinflation dated 15 Feb in STOMP.

In the opening statement of the article:

Imagine having to bring millions of dollars with you when you go to the market. But you are a millionaire and yet NOT a millionaire.

In fact, after doing a search on the internet, there was an article on CNN announcing that the Reserve Bank of Zimbabwe has “slashed 12 zeros from its currency”. Thus,  1,000,000,000,000 of the third revalue of the Zimbabwean dollars will be exchanged for 1 new dollar (fourth revalue) .

It’s really a sad situation. Reminds me of the “Banana Notes” we had in WWII. Imagine having to carry all this money with you just to have a meal:

Barter trading seems to be a attractive option here.

In fact according to Wikipedia, 1 US Dollar was worth 13 Quadrillion Zimbabwe (third) dollar (as of 12 Nov 2008). No wonder the money changers in Zimbabwe weigh the notes instead of counting…

Credits: Pictures above all from STOMP’s Singapore Seen.

Resources:

• Be blessed that S’pore isn’t Zimbabwe with its $500 million note (via STOMP Singapore Seen)
• Zimbabwe removes 12 zeros from currency (via CNN)
• Zimbabwe Dollar (via Wikipedia)