Dear Readers, BHAVIKK SHAH's BLOG is totally free website. Contents here should be viewed for Knowledge purpose only. Author does not charge for any kinds of the services. Kindly don't entertain to any of the paid services in a name of BHAVIKK SHAH's BLOG !!

Friday, January 30, 2009

ZIMBABWE CURRENCY AND 231 MILLION PERCENT INFLATION.....!!

           Bunch of Banana's for 50 CR (1 Million = 10 Lakhs)

100 Lakh Cr (1 Trillion = 1 Lakh Cr)

10,000 Cr (1 Billion = 100 Cr)
SEVEN LAKHS FIFTY THOUSAND

From 1000 Cr to 10,000 CR (1 Million = 10 Lakhs)

50 CR (1 Million = 10 Lakhs)

10 CR (1 Million = 10 Lakhs)

5000 CR (1 Billion = 100 Cr)

ON 18th April 1980 Zimbabwe was born from British colony of Rhodesia & Rhodesian Dollar was replaced by Zimbabwe Dollar at PAR.

In 2004, Zimbabwe’s inflation was 624 %
In February 2007, the central bank of Zimbabwe declared inflation "illegal", outlawing any raise in prices on certain commodities between March 1 and June 30, 2007. Officials arrested executives of some Zimbabwean companies for increasing prices on their products. Such measures, frequently tried during other episodes of hyperinflation, have always failed.  In March 2007, inflation surged to a new high of 1,730%, and in June the government released a figure of 7,638%. The predictions for the annual inflation ranged from 3,000% (according to the IMF) to 8,000%. In fact, inflation that month rose to 11,000% from an earlier estimate of 9,000%. U.S. ambassador Christopher Dell predicted it would reach 1.5 million percent by December 2007, although in the event the IMF estimated a rate of "only" 115,000% for that month, and 150,000% for January 2008. The government then circulated a Z$200,000 note, and reports of extreme shortages of basic foodstuffs, fuel, and medical supplies abounded. The government instituted a six-month freeze on wages on September 1, 2007. Hyperinflation in Zimbabwe began shortly after destruction of productive capacity in Zimbabwe's civil war and confiscation of white-owned farmland.  Food output capacity fell 45 %, manufacturing output 29 % in 2005, 26 % in 2006 and 28 % in 2007, and unemployment rose to 80 %. During the height of inflation from 2008–09, it was difficult to accurately account and monitor for Zimbabwe's hyperinflation because the government of Zimbabwe stopped filing official inflation statistics. This cessation in filing made it difficult to accurately observe how severe inflation was in the country. However, Zimbabwe's peak month of inflation is estimated at 6.5 sextillion percent in mid-November 2008. In 2009 Zimbabwe abandoned its currency; at present in 2012 a new currency has yet to be introduced, so currencies from other countries are used.

Hanke Hyperinflation Index for Zimbabwe (HHIZ)
DateIndexMonthly Inflation RateAnnual Inflation Rate
5-Jan-071.0013.70%
2-Feb-071.7877.60%
2-Mar-073.1476.70%
5-Apr-076.9056.20%
4-May-076.75-2.15%
1-Jun-0720.70207.00%
6-Jul-0753.0060.40%
3-Aug-0749.10-7.29%
7-Sep-0782.5070.60%
5-Oct-07219.00165.00%
2-Nov-07642.00193.00%
28-Dec-072,010.0061.50%215,000%
25-Jan-082,250.0011.80%
29-Feb-088,260.00259.00%
28-Mar-0817,700.00115.00%
25-Apr-0857,100.00222.00%
30-May-08442,000.00498.00%
26-Jun-0823,600,000.005,250.00%41,400,000%
4-Jul-0849,200,000.003,740.00%93,000,000%
11-Jul-0881,800,000.002,080.00%167,000,000%
18-Jul-08122,000,000.001,030.00%250,000,000%
25-Jul-08157,000,000.00566.00%317,000,000%
29-Aug-086,330,000,000.003,190.00%9,690,000,000%
26-Sep-08794,000,000,000.0012,400.00%471,000,000,000%
3-Oct-083,570,000,000,000.0015,400.00%1,630,000,000,000%
10-Oct-0832,300,000,000,000.0045,900.00%11,600,000,000,000%
17-Oct-081,070,000,000,000,000.00493,000.00%300,000,000,000,000%
24-Oct-08124,000,000,000,000,000.0015,600,000.00%26,100,000,000,000,000%
31-Oct-0824,600,000,000,000,000,000.00690,000,000.00%3,840,000,000,000,000,000%
7-Nov-084,890,000,000,000,000,000,000.0015,200,000,000.00%593,000,000,000,000,000,000%
14-Nov-08853,000,000,000,000,000,000,000.0079,600,000,000.00%89,700,000,000,000,000,000,000%
Sources: Imara Asset Management Zimbabwe and author’s calculations

No comments :

Post a Comment

Related Posts Plugin for WordPress, Blogger...

Share

Why you should have a Stop Loss of 8 % ? Click to know more. Author is also on Facebook and Click here for SHORT STORIES

X