# [Economy] : Zimbabwe's new exchange rate: $1 for 35,000,000,000,000,000 local dollars



## Zangetsu (Jun 12, 2015)

_Zimbabweans will start exchanging 'quadrillions' of local dollars for a few US dollars next week, as President Robert Mugabe's government discards its virtually worthless national currency_

_At the height of Zimbabwe's economic crisis in 2008, Zimbabweans had to carry plastic bags bulging with bank notes to buy basic goods like bread and milk
_
_Bank accounts with balances of up to 175 quadrillion Zimbabwean dollars will be paid $5. Those with balances above 175 quadrillion dollars will be paid at an exchange rate of $1 to 35 quadrillion Zimbabwean dollars.
_

*Source:* Zimbabwe's new exchange rate: $1 for 35,000,000,000,000,000 local dollars - The Times of India


----------



## SaiyanGoku (Jun 12, 2015)

Didn't knew Zimbabwe Dollar had such exchange rate.


----------



## Faun (Jun 12, 2015)

SaiyanGoku said:


> Didn't knew Zimbabwe Dollar had such exchange rate.



It's been long time. You can be a billionaire there.


----------



## Vyom (Jun 12, 2015)

Why can't they come up with some 'another' currency, so that they don't have to carry such humongous cash!

Sorry, not a commerce student here.


----------



## Hrishi (Jun 12, 2015)

Just so you know they abandoned their currency long ago and settled with multiple other currencies. There were times when people used to pay some million dollars to take a ride in bus and paid twice when returning back.
Its humorous but a matter of grave concern at the same time.


----------



## GhorMaanas (Jun 13, 2015)

this economic crunch is the reason why Zimbabwe had to risk the lives of its cricket team-players and accept the deal from bakistan.


----------



## ashs1 (Jun 13, 2015)

Buying a kilo of tomatoes by paying 4-5 kilos of currency.. Like a boss


----------



## Hrishi (Jun 13, 2015)

The Zimbabwians must be damn good at maths. I bet.


----------



## ssdivisiongermany1933 (Jun 13, 2015)

German suffered almost same trauma post world war I when once  1 Trillion deutsch Mark were equivalent to  1 dollar


----------



## Zangetsu (Jun 15, 2015)

Weak Economy..the Zimbabwe government thought that printing infinite currency will strengthen there country but reverse happened


----------



## sling-shot (Jun 15, 2015)

Then the same government could have withdrawn and burnt that currency to reverse the trend, eh?


----------



## dalbir (Jun 16, 2015)

Its really funny to know this.
What about the bus?
They had a special bus with the main bus to carry the cash.


----------

