The world's cheapest currency: the Zimbabwe dollar

The Zimbabwe dollar is the monetary unit of the African country Zimbabwe, which existed from 1981 to 2009. It was introduced to replace the previously used Rhodesian dollar, which was exchanged at a rate of one to one. Technically, one Zimbabwean dollar is equal to 100 cents, but you'll see later why that information doesn't really matter.
In 2008, the first denomination of the new currency happened - 1 "new" dollar was equal to 10 billion of the previous "second" dollars. It is important to note here that the "second" dollar appeared in 2006 and had a rate of 1 to 1000 against the new currency. However, in 2009 it was also denominated, this time at the rate of one trillion. All of this did irreparable damage to the local economy. People were literally shopping around with bags and carts of money.
On April 12, 2009, it became known that the Zimbabwean dollar was completely banned from use in the country. This currency was replaced by the U.S. dollar and British pounds and the currencies of neighboring countries, where the economic situation was more stable and did not experience such harsh shocks.
Thus, the Zimbabwean dollar is by right the cheapest currency that has ever existed on our planet. The economic situation in Russia in the midst of the crisis of the 90s, against the backdrop of all this does not seem so terrible. Just think, as of July 2008, inflation in Zimbabwe reached a mark of 231 million % per year, if we believe the official data. Then it's time to look at the unofficial statistics - 6.5 quinquatrigintillion percent a year. The figures are so high that they are difficult to calculate accurately.
A simple example would be the cost of a can of beer. On July 4, 2008 at 5 p.m. local time it was worth $100 billion to Zimbabwe. Just one hour later it was worth $150 billion. A similar situation occurred with other commodities, resulting in a panic in the country.


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