Zimbabwe abandons currency
Zimbabwe will discard its currency next week, with 35 quadrillion (35,000,000,000,000,000) local dollars equating to just $1.
According to ITV news, The currency became virtually worthless following rampant hyper-inflation, which hit 500 billion percent in 2008.
At the height of the country’s economic crisis that year, prices were rising at least twice day, with Zimbabweans forced to carry cash around in plastic bags just to buy basic items.
People in the country will have until September to hand in their old bank notes – though many are now selling them as souvenirs on eBay.
The last – and highest – bank note issued was for 100 trillion Zimbabwean dollars. It did not provide enough for a week’s bus fare.
This is very sad.
Read also: Banks to release names of serial debtors on August 1
