Zimbabwe Zim revalues...err Devalues

[Benjamin NutnYahoo]

Zim devalues to worthless toilet paper. Now 1 Trillion notes = .40 US cents. Search Wash. Post for complete article.

[RVWITHME]

Yesssss.

 

Gonna Get Me Some Ice Cream!!!

 

[Cynthia AH]

Oh my!

[The Machine]

the "ZIM" ....... you do mean "ZWD" dont you, it has not been recognized as a real currency since 2009.

 

In January 2009, the Reserve Bank of Zimbabwe permitted the use of foreign currency in Zimbabwe in response to an economic decline that caused inflation levels of 5 billion percent.

 

By April 2009, the Zimbabwe dollar was suspended indefinitely.

 

The government has adopted a multiple currency framework which includes the Australian Dollar, Botswana Pula, British Sterling Pound, Chinese Yuan, Euro, Japanese Yen, Indian Rupee, South African Rand, and United States Dollar. For more information, read the BBC's "Zimbabwe's multi-currency confusion".

 

why anybody bought any of that rubbish is beyond me, the odds of the dinar revaluing are high, the odds on the Dong are astronomical .......... the odds on a currency that doesn't even exist anymore, well you get what i'm saying.

[docneedles]

This is what the BBC reported last week.

 

Citizens with high bank balances will be able to exchange as many as $35 quadrillion local dollars for just one U.S. dollar, the BBC reported.

 

As of next week, Zimbabweans will be able to exchange bank accounts of up to 175 quadrillion (175,000,000,000,000,000) Zimbabwean dollars for five U.S. dollars, Governor John Mangudya told Bloomberg News in an e-mailed statement from the capital, Harare. They have until the end of September to exchange their local dollars.

 

 

 

​yes, this is correct 1 u.s. dollar=35 quadrillion Zimbabwean dollar. It has officially been discontinued. September 30 is the last date to redeem them in country. I don't know about currency dealers in the U.S. 

[The Machine]

 

 

​yes, this is correct 1 u.s. dollar=35 quadrillion Zimbabwean dollar. It has officially been discontinued. September 30 is the last date to redeem them in country. I don't know about currency dealers in the U.S. 

 

Dealers in the US or anywhere else will not touch it, the currency is worthless outside Zimbabwe.

 

it's also worthless inside Zimbabwe but at least there giving them a chance to recoup some of their savings, albeit probably only 1% or less of what they had originally .

[wbuse984]

Machine - thanks for the post - I read the article, and since ZCB discontinued the ZWD, the residents are pretty lucky they are getting anything.

[umbertino]

Zim devalues to worthless toilet paper. Now 1 Trillion notes = .40 US cents. Search Wash. Post for complete article.

 

Getting surreal...Orwell stuff

[umbertino]

When I first got there ( 1986) the exchange rate ( if I recall correctly) was $ 10 ZIM = 1USD