100,000,000,000,000 Dollar Zimbabwe

 

Zimbabwe Currency Exchange fell to its lowest level Thursday. Currency of one U.S. dollar worth one billion dollars traded Zimbabwe. Zimbabwe currency slump caused skyrocketing prices sharply. In Thursday trading session, the exchange rate of one U.S. dollar soared about 1.45 billion Zimbabwe dollars (gee). And earlier this week, strengthened ZWD currency exchange reached 700 million Zimbabwe dollars per U.S. dollar. ($ 1 USD = $ 700 million ZWD).

 

Zimbabwe's new banknotes worth $ 10,000,000,000 ZWD or 10 billion dollars on a single sheet.

 

Before January 2011 the $ 500 million is equivalent to U.S. $ 1.6 or Rp.15, 000 in Indonesia, jakarta sgtu money can only buy noodles for chicken and bottled tea but now the exchange rate through $ 700 ZWD million per dollar ( parent Bank of Zimbabwe issued a formal denominations with a value of $ 10,000,000,000, (10 billion Zimbabwe dollars) as well as the latest record of the largest denominations in the country dunia.sehingga This entry in the list of top 10 world's poorest countries. 

 

The country's currency depreciates about 84 percent since the Zimbabwe Central Bank floated the exchange rate after years of exchange rate peg. According to observers, melorotnya the Zimbabwe dollar was triggered by inflation and demand cash great many. â € ~ â € ™ Exchange rate is driven by the demand for foreign exchange, and the desire to secure funds to deal with inflation, â € ™ â € ™ said Mudzingwa Nhiwatiwa, analyst at ZABG Banking Group. craze Inflation â € ~ â € ™ It shows our exchange capacity is very low.

 

 

If we were not able to restore exports and production, the Zimbabwe dollar will continue to depreciate sharply, â € ™ â € ™ he said. Zimbabwe's production capacity is largely dependent on the agricultural sector, fell sharply due agrarian crisis. President Robert Mugabe issued a policy of confiscating land belonging to white people to be given to indigenous people. The price of staple goods skyrocketed since the political turmoil after the presidential election March 29. Nhiwatiwa said the release of foreign exchange system that is not supported by production resulted in price -rocketing prices. 

 

It added political uncertainty due to the election crisis. Roti bargaining cost us 15 million Zimbabwe dollars now jumped to 600 million Zimbabwe dollars. A liter of cooking oil worth 2.5 million dollars. In February, inflation in the country reached 165 000 percent or the highest in the world. Figures inflation