Inflation @ 355000%

\\ HYPERINFLATION //

 

 

The Government of India and its People were both nervously shaking with fear when Inflation was hanging at 8%, a few months back.

 

But Can you imagine an inflation rate of 355000% ?

Zimbabwe had an Inflation rate of 355000% ! Yups 355000 Percent just a year back in March 2008.

 

The Zimbabwean central bank had introduced $500 million bearer cheques (or currency notes) for the public, and $5 billion, $25 billion, $50 billion agro-cheques for farmers with validity up to December 31, 2008.

 

 

 

Rates in Zimbabwe:

 

A Sandwich : $50 million

A 1-kg bag of potatoes : $19 million

Zimbabwean $50 million: US$ 1         

 

Result:

 

Zimbabwe Stock Exchange: Stopped Trading

Zimbabwean Dollar: DEAD

 

On November 14, 2008, Zimbabwe broke all but one World Records and became the 2nd most Hyper inflated country ever in the history of World Economics.

 

 

 

 

:\: RAAR