Saturday, December 20, 2008

How much will $100,000,000 buy today ???

It's confusing.

The pale blue bank note that says 1,000,000 Zimbabwean dollars really means 10,000,000,000,000,000,000. Yes, that's 10 quintillion, taking into account the 13 zeros Zimbabwe's central bank has lopped off in the last couple of years to make the country's currency somewhat more manageable.

Every time they get out of hand, Zimbabwe's Reserve Bank scythes away 00000s. The largest note, Z$100,000,000,000, released in July and useless within weeks, looked so bizarre with all the zeros squeezed in that it became an instant collector's item.

Regardless, inflation is soaring so fast in Zimbabwe that it's hard to figure out what a Z$1-million note is actually worth on a given day.

Somewhere between July's Z$100-billion note and the more recent zero-reduced Z$1-million note, it's easy to get mixed up.

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