2007-09-09 02:14:59 · 3 answers · asked by Anonymous in Business & Finance ➔ Other - Business & Finance
Zimbabwe has been suffering from extremely high rates of inflation for the past few years.
This past week, the Reserve Bank of Zimbabwe revised the official exchange rate, which was 250 Zim Dollars = US $1
down to 30,000 Zim Dollars = US $1. The unofficial exchange rate (the parallel market or black market rate, if you will) is about 240,000 Zim Dollars = US $1.
That would make 1000 Zim dollars worth about 3 cents US at the official rate or not quite half of one cent at the parallel market rate.
The link below is a newspaper article on the subject:
2007-09-09 06:41:47 · answer #1 · answered by F. Frederick Skitty 7 · 0⤊ 0⤋
extremely tough subject. browse on google or bing. that will help!
2014-11-10 04:14:34 · answer #2 · answered by joaquin 3 · 0⤊ 0⤋
Just about nothing.
2007-09-09 09:27:27 · answer #3 · answered by schneider2294@sbcglobal.net 6 · 0⤊ 0⤋