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Financial Advice

Travel Forums Off Topic Financial Advice

1. Posted by james (Travel Guru 4136 posts) 8y

I read in the paper that the inflation rate in Zimbabwe is running at 2.2 million percent per annum.

If inflation is running evenly throughout the year, then the average daily rate of inflation is 6,027 per cent.

At today's exchange rate, if you convert 1,000,000,000,000 Zimbabwe Dollars, you will receive $54.83 Australian Dollars.

If you convert 1,000,000,000,000 Zimbabwe Dollars tomorrow, you will receive just under 1 cent.

If you are visiting Zimbabwee, be sure to only convert as much local currency as you will need

2. Posted by mikeyBoab (Travel Guru 5077 posts) 8y

Yeah but you'd be a trillionaire!!!

3. Posted by Hien (Moderator 3906 posts) 8y

Zimbabwe introduces Z$100bn note
Zimbabwe is to introduce a bank-note worth Z$100bn in response to rampant inflation - but the note will barely cover the cost of a loaf of bread.
Read more...

4. Posted by james (Travel Guru 4136 posts) 8y

Quoting Hien

Zimbabwe introduces Z$100bn note
Zimbabwe is to introduce a bank-note worth Z$100bn in response to rampant inflation - but the note will barely cover the cost of a loaf of bread.
Read more...

And tomorrow you'll need a whole wad of Z$100bn notes for the same loaf of bread.

5. Posted by bex76 (Moderator 3711 posts) 8y

my colleague has just returned from Zimbabwe and he says everyone has to go shopping with briefcases to carry their money! :)

6. Posted by james (Travel Guru 4136 posts) 8y

Quoting bex76

my colleague has just returned from Zimbabwe and he says everyone has to go shopping with briefcases to carry their money! :)

Apparently the cost of a briefcase is so high that you need a briefcase to carry the money to buy a briefcase!

7. Posted by bex76 (Moderator 3711 posts) 8y

Quoting james

Quoting bex76

my colleague has just returned from Zimbabwe and he says everyone has to go shopping with briefcases to carry their money! :)

Apparently the cost of a briefcase is so high that you need a briefcase to carry the money to buy a briefcase!