The Continuing Plight of the Dollar...

[Sam]

The $Z Dollar that is :yell: :yell:

You may have remembered my $Z antics in the chatroom couple months ago. Decided to check up on the fabled currency of Mr. Mugabe:

On year ago, the currency was at 40,000 $Z to the dollar.

Not too shabby, compared to the Lira eh?

In January, the official rate was $1,900,000 Z to the USD , ultimating in many nps being given away.

On the first of may, the rate was 190,000,000 $Z to the dollar.
On Tuesday, May 28th, the official rate was 580,000,000 $Z to the DOLLAR!

A 500% increase increase in 30 days :yell: :yell: :yell:

http://en.wikipedia.org/wiki/Zimbabwean_dollar
http://www.siyabonga-tatenda.com/zimmoney.html

***Important news ***

The rates are flying somewhat at the moment. Banks seem to have settled a bit and RTGS times have improved. Encouraging news!!
Our current rate


You pay us on

Deposit shows
GBP £1 = 1,200,000,000 Monday Wed/Thursday
USD £1 = 580,000,000 Tuesday Thurs/Friday
CAN $1 = 588,000,000 Wednesday Fri or Next Monday
AUS $1 = 558,500,000 Thursday Next Mon/Tuesday
EURO €1 = 917,500,000 Friday Next Tues/Wed

I really want to visit and buy a ton (literally a ton) of $100 Zimbabwean bills and make it rain. great place to make some rap videos eh?

Edit:

USD $1 = 51,288,500,000 July 1st

7,263,000,000 (16th) 9,288,500,000 (17th)! A jump of 2 BILLION $Z dollars in one day! Wow! At this rate, everyone can become a $Z trillionare.

 

[nicedomains]

I really want to visit and buy a ton (literally a ton) of $100 Zimbabwean bills and make it rain....

LMAO :D

 

[kev]

Thats insane - over a billion dollars to the pound

I wonder how many billions of zimbabwean dollars it would take to buy a house over here :hehe:

Great post Sam!

 

[Sam]

Kev,

unfortunately it seems like a heater was costing 10 BILLION $Z, which is causing trouble with locals since ATMs can only be used at a limit of 990 million$ withdrawals (supposedly since the ATM technicians would never think someone would need to withdraw a billion dollars :lol: )

http://allafrica.com/stories/200805300863.html

Inflation now at 1,700,000% !

IN TWO DAYS, the exchange rate jumped 200,000 $Z!!:

777,500,000 (30th)

 

[Sam]

It takes a mere 17 days to get you a brand new rate:

USD $1 = 9,288,500,000

7,263,000,000 (16th) 9,288,500,000 (17th)! A jump of 2 BILLION $Z dollars in one day! Wow! At this rate, everyone can become a $Z trillionare.

 

[GILSAN]

Check this bill for 1 dinner with 2 beers + 1 mineral water:

http://www.investmentpostcards.com/2008/06/04/dinner-for-one-in-zimbabwe/

It cost 1 and 1/4 Billion Zimbabwe dollars and that was back in March this year!

At the moment it will probably cost 10 Billion $Z for the same meal. You need a wheelbarrow everytime you go and eat, that's offcourse if you're lucky to find food in the restaurant!

GIL

 

[gmtfan]

In my country, the similar thing may happens, but not that high. However, the central bank is trying to keep exchange rate to change 2% a day. The exchange rate listed in any Bank is totally different form real exchange rate at out side market. About 15% difference now. Only in one moth, the value of local currency is down 15% and continue to down.

I hope the central bank will success in keeping the exchange rate, if non, the horrible situation will be

It is Vietnam

 

[GILSAN]

In my country, the similar thing may happens, but not that high. However, the central bank is trying to keep exchange rate to change 2% a day. The exchange rate listed in any Bank is totally different form real exchange rate at out side market. About 15% difference now. Only in one moth, the value of local currency is down 15% and continue to down.

I hope the central bank will success in keeping the exchange rate, if non, the horrible situation will be

It is Vietnam

What is your inflation rate at the moment? 15, 20, 30%?

2 weeks ago the official government inflation rate in Zimbabwe was about 1 million %. No country will ever break their records! They can be sure that they will stay in the Guiness book forever!

GIL

 

[Sam]

Check this bill for 1 dinner with 2 beers + 1 mineral water:

http://www.investmentpostcards.com/2008/06/04/dinner-for-one-in-zimbabwe/

It cost 1 and 1/4 Billion Zimbabwe dollars and that was back in March this year!

At the moment it will probably cost 10 Billion $Z for the same meal. You need a wheelbarrow everytime you go and eat, that's offcourse if you're lucky to find food in the restaurant!

GIL

At the moment, 10 billion $Z is around 59 cents.

This is quite sad, 2 days later, exchange rate has BALLOONED into 17 BILLION $Z to $1 USD. Seriously, this has to stop somewhere.

 

[GILSAN]

At the moment, 10 billion $Z is around 59 cents.

This is quite sad, 2 days later, exchange rate has BALLOONED into 17 BILLION $Z to $1 USD. Seriously, this has to stop somewhere.

It will only stop when the world wakes up and gets that pathetic dictator called Robert Mugabe arrested and taken to an International Court to respond for crimes against humanity and for totally destroying a once prosperous country.

From what you tell me, that same dinner will now cost about 90 to 100 billion $Z, meaning they will need a small truck to carry the money! By July, August we'll be talking trillions!

GIL

 

[htmlindex]

With the way how things are going, do you think it could be good to do some currency trading :hehe:

 

[Sam]

51 billion dollars to 1 USD

Monday - 01/7/08

The rates have changed - we expect massive increases in the ZWD rates over the next few weeks as it readjusts to inflation. Thus we advise you to send your funds with us via forex and fuel coupons.

 

[GILSAN]

51 billion dollars to 1 USD

Wow, that means that the same dinner that cost 1 billion $Z in March, will now cost about 500 Billion Z$. It should hit the trillion mark by next week. Mind bogling!

Can register machines handle that many ZEROS?
1 Trillion = 1.000.000.000.000

GIL

 

[GILSAN]

Wow, that means that the same dinner that cost 1 billion $Z in March, will now cost about 500 Billion Z$. It should hit the trillion mark by next week. Mind bogling!

Can register machines handle that many ZEROS?
1 Trillion = 1.000.000.000.000

GIL

The new $100,000,000,000 Zimbabwe bill was released today, July 22nd 2008 — according to Reuters, you can get yourself three eggs in exchange for the world's largest bank note in circulation.

In a few weeks time it may only buy you one egg, such is the galloping speed of their inflation rate.

 

[weblord]

we can get eggs here anytime for we're located in a farm :lol:
that's too much.

The new $100,000,000,000 Zimbabwe bill was released today, July 22nd 2008 — according to Reuters, you can get yourself three eggs in exchange for the world's largest bank note in circulation.

In a few weeks time it may only buy you one egg, such is the galloping speed of their inflation rate.

 

[GILSAN]

we can get eggs here anytime for we're located in a farm :lol:
that's too much.

I'd love to have one of those bills for my collection. I'd be willing to pay a dozen eggs for one. :D Anyone heading for Zimbabwe soon?

 

[johname]

get my hands on one of those and i am finally a billionare lol

The Z goverment should sell those bills to coin collectors

 

[GILSAN]

get my hands on one of those and i am finally a billionare lol

The Z goverment should sell those bills to coin collectors

They would probably regard it as a Western plot to bring back colonialism.