Zimbabwe new exchange rate: $1 for 35,000,000,000,000,000

[Duane 3NE 2NR]

Zimbabwe offers new exchange rate: $1 for 35,000,000,000,000,000 old dollars

Central bank discards local currency after years of hyperinflation which at one point reached 500 billion per cent

Zimbabweans will start exchanging “quadrillions” of local dollars for a few US dollars next week as President Robert Mugabe’s government discards its virtually worthless national currency.

The southern African country started using foreign currencies including the US dollar and South African rand in 2009 after the Zimbabwean dollar was ruined by hyperinflation, which hit 500 billion per cent in 2008.

At the height of the country’s economic crisis, Zimbabweans had to carry plastic bags bulging with banknotes to buy basic goods. Prices were rising at least twice a day.

From Monday, customers who held Zimbabwean dollar accounts before March 2009 can approach their banks to convert their balance into US dollars, the governor of the Reserve Bank of Zimbabwe, John Mangudya, said in a statement.

Zimbabweans have until September to turn in their old banknotes, which some people sell as souvenirs to tourists.

Bank accounts with balances of up to 175 quadrillion Zimbabwean dollars will be paid $5. Those with balances above 175 quadrillion dollars will be paid at an exchange rate of $1 for 35 quadrillion Zimbabwean dollars.

The highest – and last – banknote to be printed by the bank in 2008 was 100tn Zimbabwean dollars. It was not enough to ride a public bus to work for a week.

The bank said customers who still had stashes of old Zimbabwean notes could walk into any bank and get $1 for every 250tn they hold. That means a holder of a 100tn banknote will get 40 cents.

The bank has set aside $20m to pay Zimbabwean dollar currency holders.

http://www.theguardian.com/world/2015/j ... ld-dollars

[zoom rader]

The dangers of an African Government

[Lance]

The dangers of an African Government

Dangers of a totalitarian regime.

Early morning so you spewing ignorance?

[nos_specialist]

Damnn

[zoom rader]

The dangers of an African Government

Dangers of a totalitarian regime.

Early morning so you spewing ignorance?

Name me a successful Afro lead government

[Lance]

What is your reference point for success? I assume it's economic development? If so, provide me with your metrics.

Are you comparing it to western economies or to other extensively colonized countries?

If you say western economies then you need a serious history lesson. I suggest you start with books by Walter Rodney or Eric Williams and then juxtapose it with more mainstream free market/capitalist literature.

I would indulge your attempt at trolling but come with a structured economic argument and we will debate.

[crazykid023]

Well everyone have to be real gud in maths......... Dealing with dem big numbers everyday

[carmelo]

What is your reference point for success? I assume it's economic development? If so, provide me with your metrics.

Are you comparing it to western economies or to other extensively colonized countries?

If you say western economies then you need a serious history lesson. I suggest you start with books by Walter Rodney or Eric Williams and then juxtapose it with more mainstream free market/capitalist literature.

I would indulge your attempt at trolling but come with a structured economic argument and we will debate.

teach them lance ...they dont know....

[Advent]

The dangers of an African Government

Dangers of a totalitarian regime.

Early morning so you spewing ignorance?

i did laugh tho :/

[meccalli]

Name me a successful Afro lead government

Really?

[zoom rader]

What is your reference point for success? I assume it's economic development? If so, provide me with your metrics.

Are you comparing it to western economies or to other extensively colonized countries?

If you say western economies then you need a serious history lesson. I suggest you start with books by Walter Rodney or Eric Williams and then juxtapose it with more mainstream free market/capitalist literature.

I would indulge your attempt at trolling but come with a structured economic argument and we will debate.

Walter Rodney book "How Europe Underdeveloped Africa" reminds me of Hitler "Mein Kampf" where the Jew in his mind is responsible for Germany downfall.
In Rodneys book Africa downfall is the White man. Yet still South Africa under a white goverment was doing good, now its a diffirent story under Afro rule.

As for Williams according to Dr Job hes a fraud and another failed Afro leader.

[halfbreed_1]

The dangers of an African Government

because india is in a better shape right?

where 90% of the population lives in slums and live off of the rich's trash?

yep sounds about right

[Lance]

I'm going to take my exit from this thread. I originally thought it would have been a discussion regarding economic and social policy. Instead, ZR has been actively trying to steer it into a discussion of racial superiority.

[ruffneck_12]

Imagine if for some weird reason that ratio got flipped

And Zimbabwe became the richest country in the world

[humbleservant]

Lets Play... who wants to be a Trillionaire.....

[ruffneck_12]

[- Rovin's car audio -]

better parker brothers start putting this money in their monopoly games instead ....

[humbleservant]

35 quadrillion dollars

[zoom rader]

Lets Play... who wants to be a Trillionaire.....

Actually as a collector of bank notes this note alone is worth about $30US in mint condition.

Exchange rate may be bad for Zimbabwe but collectors rush to buy this note.

[88sins]

Yet still South Africa under a white goverment was doing good, now its a diffirent story under Afro rule.

seems that either you happily forgot about a lil issue in S. Africa known as apartheid, or that info never penetrated that lil bubble you live in

[zoom rader]

Yet still South Africa under a white goverment was doing good, now its a diffirent story under Afro rule.

seems that either you happily forgot about a lil issue in S. Africa known as apartheid, or that info never penetrated that lil bubble you live in

Look up reverse apartheid in present day South Africa under afro rule.

[88sins]

now yuh starting to sound like a true PNMite as you portray them to be.
always blame something or someone else for all that happening, & keep a hand out for some sympathy or a handout ent?

[nos_specialist]

zimbabwelonians ....lol.... shud sell their money to collectors, who knows they might get more value for it

[K74T]

The dangers of an African Government

Dangers of a totalitarian regime.

Early morning so you spewing ignorance?

Name me a successful Afro lead government

The People's National Movement.

Now shut yuh flickin mouth.

[Morpheus]

*in b4 ZR spew some kinda crap....

...oh nevermind........

[zoom rader]

zimbabwelonians ....lol.... shud sell their money to collectors, who knows they might get more value for it

They do, they get about £5 per note in mint condition. Thats where I got mine from.

[Redman]

Lets Play... who wants to be a Trillionaire.....

Actually as a collector of bank notes this note alone is worth about $30US in mint condition.

Exchange rate may be bad for Zimbabwe but collectors rush to buy this note.

I have 2.

You can get 2 for 8USd on amazon

[desifemlove]

Don't feel sorry.

Dey fought and shed blood to get Mugabe out.

And Mugabe accepted to be a figurehead.

And now he back, and he like 95. lol...

[desifemlove]

The dangers of an African Government

I does see why you have the Confederate flag as yuh avatar....kind of dim not to see de connection of up til now.

But then you neglect Angola, Ghana, and Botswana as successful states.

And do Bangladesh or Pakistan's faults rule out India's success? If one country mek Africa bad, one country mek Southern Asia look bad.

[antlind]

The dangers of an African Government

I does see why you have the Confederate flag as yuh avatar....kind of dim not to see de connection of up til now.

But then you neglect Angola, Ghana, and Botswana as successful states.

And do Bangladesh or Pakistan's faults rule out India's success? If one country mek Africa bad, one country mek Southern Asia look bad.

Ignore ZR. The man does only post comments to rile up normal people.