Zimbabwean Dollar

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Zimbabwean Dollar

The former currency of Zimbabwe. It replaced the Rhodesian dollar following (official) independence from Britain in 1980 and was used until extreme hyperinflation forced a change to a new currency code in early 2009 and was abandoned in April of that year. Its inflation rate in December 2008 was 6.5 x 10^108%.
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References in periodicals archive ?
(12) Sending such goods to Zimbabwe became a key means for workers to send their earnings home, in a form that would hold more stable value than the hyperinflatory Zimbabwean dollar. Doing so also enabled Grootplaas residents to remain flexible in their investments.
The United Kingdom's Times observed on February 3 that "Gideon Gono, widely regarded as the world's most disastrous central banker, knocked another 12 zeros off the Zimbabwean dollar yesterday in an attempt to bring the national currency back from the realms of the fantastical.
Less than a month ago, the central bank introduced one million, 500,000 and 100,000 Zimbabwean dollar notes.
Her salary of $3,600 Zimbabwean dollars a month [$36 trillion before the government rejiggered the currency in August] does not even pay for four days of bus fare to her job at a Harare hospital.
That announcement and a million Zimbabwean dollars might buy a cup of coffee in Harare, but it doesn't mean diddly in Washington, D.C.
While index returns in Zimbabwean dollars was a strong 292% in 2003 as a result of negative real interest rates and the relative unattractiveness of alternative investment instruments, index returns in US dollar terms were a disappointing -73% as the local currency depreciated sharply and inflation ballooned to over 500% due to the economic problems created by President Mugabe's controversial land reform programme.
Kirsten said: "We got a donation of 16,000 Zimbabwean dollars, which would have been worth pounds 1600 just 10 years ago.
An army whose shock troops consisted mainly of unemployed youth -- misnamed `war veterans' -- paid between 70 and 280 Zimbabwean dollars daily (a newspaper costs Z$10), led by the appropriately named Dr Chenjerai `Hitler' Hunzvi, had invaded approximately one-fifth of Zimbabwe's commercial farms.
35,000,000,000,000,000 Zimbabwean dollars can be exchanged for US$1 since Monday as President Robert Mugabe's government discards its virtually worthless national currency.
In the latest measure to strengthen the already sound business relationship between Beijing and Harare, Zimbabwe announced Monday that China will help inject some 1.6 billion Zimbabwean dollars (US$4.2 million) into a water project.
And you could hedge for deflation by buying a few hundred trillion Zimbabwean dollars.
In mid-July, a loaf of bread cost about 100 billion Zimbabwean dollars, up from about 750,000 Zimbabwean dollars just six months ago.