July 30, 2008

Zimbabwe Hyperinflation Hits A New Low....or High

I have written about Zimbabwe and dictator Robert Mugabe's incompetent economic management here and here. But Zimbabwe has hit a new low, now printing the 100 billion dollar bill, worth about one US dollar. However, this bill has been sold on e-bay in the US for as much as $71 dollars (see here), presumably to be used in a rap video... and I thought my one million Turkish bill was cool.

Above, an article from the economist about the world largest bills. Believe it or not, Zimbabwe has a long way to go to reach the Hungarian Pengo note, which had 19 digits! Anyone know what you would call that bill?

1 comment:

Isaac B said...

What exactly lead to Zimbabwe's hyperinflation? Are sources that scarce, or is the country in incredibly deep debt? Or something completely different?