Zimbabwean dollars that is! Three raw eggs and it was a pleasure doing business with you sir!
Zimbabwe suffers from what’s called Hyperinflation. That is inflation spiraling out of control. When the Zimbabwean dollar was introduced in 1980, it was actually worth more than the US dollar. At that time, the inflation rate in Zimbabwe was around an easily manageable 7%.
This spiraled to a ridiculous 231,150,888.87% by 2008 due to a number of missteps by the Zimbabwean government. No computer in Zimbabwean banks can handle this many zeroes, so the banks simply ignore a majority of the zeroes and mentally round off to the nearest manageable zero.
As of today, USD $1 is worth ZWD $12,625,549,717.84.
Inflation gauges the purchasing power of money over a period of time. Interested in knowing how much a dollar in circa 1774 was worth in 2009? I put together a chart that reflects the value of a dollar over the years.
A dollar in 1774 is worth around $0.04 today.
This is a gentle reminder to my awesome readers to protect your nest egg from the ravaging effects of inflation. (No pun intended.)