In May 2008 I wrote an article about how inflation in Zimbabwe hit 100 000 per cent. Since then, almost 2 years have past and this is what has happened in the mean time.
In November 2008 inflation in Zimbabwe hit 89.7 sextillion percent – that is 89 700 000 000 000 000 000 000%.
To get a rough idea how much that is – a sextillion is a billion trillions. 😎
In addition to the staggering hyperinflation, unemployment in Zimbabwe also went up to 85% and over the third of the people left the country. Check out the pictures below to get an idea how was life in Zimbabwe during the hyperinflation
Pictures of Inflation in Zimbabwe
A boy with 200 000 dollar notes…
At the time this picture was taken – 200 000 dollars of Zimbabwe were about 0.10 US cents.
On December 22nd 2007 a new 500 000 Zimbabwean dollar note was introduced
A few days later the 750 000 dollar note hit the market…
January 2008 – a ten million Zimbabwean dollar note
A man holding 60 million Zimbabwean dollars in January 2008 – about 40 US dollars at the time of taking this picture.
In May 2008 10 million Zimbabwean dollars are worth about 6 US dollars
A boy going to buy groceries
A case with 65 billion dollars… Too bad it is only 2000 US dollars. 🙁
A local citizen going to a supermarket. The exchange rate was about 25 million Zimbabwean dollars for $1 US.
See this huge pile of money? Well, it’s only worth about $100
Things keep getting better… well actually worse… A 50 million dollar bill is introduced to the people of Zimbabwe
And a few days later the 250 million dollars from the Reserve Bank of Zimbabwe… Or should we say the local print shop. 😆
Want to but a T-shirt? No problem… 276.5 million dollars please! Compared to the 2.765 billion the trousers are going for, it’s a steal…
May 2008 – a 500 billion Zimbabwean dollar note is introduced. This was also the time where I wrote the blog post about inflation in Zimbabwe. For some reason it was listed under Fun 😎
By this time the hyperinflation was at 100,000%.
I wrote:
With inflation this high it means that when you leave your shopping for the next day you have effectively lost 93,75% of your money.
June 2008 – 25 billion and 50 billion notes are printed. In the background you can see president of Zimbabwe Robert Mugabe – the mastermind behind the hyperinflation. It all started in the beginning of the 2000s when he decided to confiscate all the land from people with white skin – effectively ending all farming in the country.
A quote from president Mugabe:
“The only white man you can trust is a dead white man”.
July 1st 2008 – a 100 billion dollar bank note is issued
What can you buy with it? Well… it’s not enough for 4 eggs but you can get 3…
I have an idea – lets have a fun evening in the restaurant! (better take the truck for all that money)
Restaurant bill for the evening: 1 billion 243 million 255 thousand dollars and 0 cents. 😆
Too much money to stack under the mattress, too much to carry it all to the bank…
August 2008 – the government of Zimbabwe decided to take 10 zeroes away from each dollar bill.. You know – they just didn’t fit…
Not again??? Despite getting rid of the zeroes, the inflation kept going up… This was the amount just 1 month later you needed to buy 4 tomatoes!
Want some bread? No problem…
Late September – 1 month after losing 10 zeroes from each note of money… the new 20 000 Zimbabwean dollar bill is born!
A couple of weeks later… the new 50 000 dollar bill…
The largest bill in the history of money
As time went on the inflation became unbearable. The government of Zimbabwe had to issue the largest bank note ever in the history of mankind – the one hundred trillion dollar bill.
How the inflation in Zimbabwe ended?
In 2009 the government of Zimbabwe was tired of printing new money (and they were probably out of paper as well) and decided to get rid of the Zimbabwean dollar.
Instead they are currently using the South African rand and the US dollar.
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Why they don’t just jump to trade? like in old times?
How this happened? How the prices goes up? who mark the prices anyway?
If I have a shop, I can decide to trade stuff for stuff on my common sense.
They have a legal tender law that prohibits that. Just like the law in the U.S.A.
What need for carrying all that amount for the dining while they have already printed a 100 billion note.That shows that these are craps.
Look at the date on the receipt – they hadn’t issued the note in March.
The international bankers have enslaved humanity.
Learn about the PRIVATE Federal Reserve bank.
“At the time this picture was taken – 200 000 dollars of Zimbabwe were about 0.10 US cents.”
You must mean either 0.10 US Dollars OR 10 US cents. This is like the AT&T decimal debacle all over again.
Man that’s some messed up stuff
wow… thats a totally worst financial nightmare in the world!
Perspective sure enlightens one, doesn’t it. I’m writing from the US, where we believe our financial situation is dire, but one dollar still buys quite a bit!
lets all pray for all the people in zimbabwe……
every country should give their helping hands for their inflation…
by a true indian…
ahh yes, prayer, the easiest way to do NOTHING and still feel like youre a philanthropist.
Ah sarcasm, the easiest way to add nothing to a discussion and still feel like you had some input.
AMEN!!!
the blog is really touching…..
Thinking about their standard of living brings tears.
wish u dint put laughing smileys over their condition
Instead of carrying all this huge pile of money, they could change it in the bank to 100 trillion
Lets pray and help these poor countries.
Thanks for valuable information.
i will try my level best to help and develop this country.
thanks for valuable information. keep us all updated
We are next then Europe! I purchased a BIG SAFE!
I am saddened to read about this inflation. But I know that the great people of ZIMBABWE have wizened up. We, in Indian industry, are committed to get involved with growth in this country.
We plan to set up agro-industrial plants, creating employment and doing this at a cost in sync with the Zimbabwe purchasing power.
All the very best.
oh really being an indian i dint know that ,but how come v do this v r 52nd on the worlds poor list..is it true
One doesnt need to be Rich to help, you can do whatever best you can do to help.there are many ways to help
I am from Haiti, and I left when I was 14. Haiti is a poor country, but that situation in Zimbabwe is my mind boggling…To quote one of the comments “Billion Trillions” Mind boggling indeed.
Zimbabwe is poor,not because of equivalent the currency.But,they are poor because of poor infrastructure in Zimbabwe,poor education,poor human resources,poor income percapita,poor health.
Because,equivalent of currency not determined country’s wealth/country’s prosperous/country’s important index/country’s happiest index.
Like that,
*1 USD=2 Papua New Guinean Kina.
*1 USD=2000 South Korean Won.
*1 USD=8900 Indonesian Rupiah.
*1 USD=100 Japan Yen.
Are Papua New Guinea better and richer than Indonesia,South Korea,Japan????
Value of money does not show how prosperous a country.
Even,Papua New Guinean is poor.
Infrastructure,Education,Health,Income Percapita,GDP in Papua New Guinea is low or poor.
But in a fact.Zimbabwe is very poor,because the economic is not stability…
After redenomination,inflation again,again,and again…..
*Different with South Korean Won,Indonesian Rupiah,Chinese Yuan,Russian Rubel which have high performances of money.
Example:
In 2009,1 USD=2000 South Korean Won.
In 2011,1 USD=1500 South Korean Won.
*In 2009,1USD=11000 Indonesian Rupiah.
*In 2010,1 USD=8900 Rupiah.
South Korean Composite Index in 2009 is 1500 poin.
But,in 2010 is 2000 poin.
*Indonesian Composite Index in 2009 is 2500 poin.
But,in 2010 rise until 3700 poin……
It is the good performances…
i’m breathless while mentally counting so enormous figures! i felt exhausted how hard to live in those times. i pity them, it’s a hearth breaking facts and few deep sighs can’t appease my thoughts. i just wondering how some people wastes their left over foods. ordering too many dishes and leaving the restaurants with sometimes half of what they have ordered. may God save them.
Well i disagree with what Morgan said about poor education in Zimbabwe. I actually am from Zimbabwe and will have you know that Zimbabwe has one of the best education systems in Africa. It is very unfortunate that our country is in such a state. I put the blame on poor management. But for all those of you who are in well developed countries be thankful for what you have and appreciate life as you know it……For you never know what tomorrow brings.
It could bring you a one trillion note…
Hey..Ramsey..I know your literacy(CAN READ AND WRITE ONLY) rate is the highest in Africa 80%.But it is not determined Zimbabwe is the best education system in Africa,because we must see in EDUCATION HUMAN RESOURCE.
CAN READ AND WRITE ONLY not decide to have a smart brain.We can see in International Contest like Biology,Physic,Mathematic,and Chemical Olympiad,Robotic Contest,Car Contest and many again..
I see the ranking from it contest ; Russia,USA,Indonesia,Singapore,UK,Netherlands,China has always been a champion/winner every year.
***Zimbabwe is Developing Country,but Indonesia and China is Developing Country too,but why Indonesia and China is good????
Because,Zimbabwe is LEAST DEVELOPING COUNTRY(BACKWARD COUNTRY).
tsk! tsk! tsk! what a nightmare! wish rich countries will give a hand to these people. humanity, where are you???
During the Rhodesian years and even for a few years after Mugabe took power the country was relatively prosperous with one of the strongest currencies in Africa, stronger than the US dollar for a period..
Such a shame that this fantastic country has deteriorated to the degree it has. Corrupt and incompetent government are to blame.
i never thought that porr management wud cost so much..how come the government has not taken any steps y wud they live in such a misery ..isn’t there any way out
How is this possible. Why we can not just control the inflation?If any one have some idea about the inflation please answer.
I am just a common man. I don’t have much idea in economics.
U.S gov printing $45,000 per second .it is very big threat to economy.money overflow is going.
how much can ? some body i will get car like b m w .x1
God will hlpe this country
I think the Zimbabwean Prez must lure farmers from other countries if they wish to survive.
Inflation once also dominated Brazil. In 1992 things were so bad prices had to be adjusted daily and every weekend people gathered around the newscast to get inflation values. Laws forbid placing US currency signs on price tags in stores but many stores did just that risking heavy fines to avoid switching tags every day. Changing to a foreign currency is a good way to avoid inflation rates but long term the only solution to the problem is a complete change in the political landscape
Zimbabwe’s inflation is hardly history’s worst — in Weimar Germany in 1923, prices quadrupled each month, compared with doubling about once every three or four months in Zimbabwe. That said, experts agree that Zimbabwe’s inflation is currently the world’s highest, and has been for some time.
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