Thursday, September 25, 2008

How Bad Can It Get?

However bad things may get, at least we're not Zimbabwe.

The last official figure given for annual inflation was 11,000,000%. Last month the central bank struck 10 zeros from the currency, making 10bn Zimbabwe dollars equal to one new dollar.

Banks only allow people to withdraw a maximum of 1,000 new Zimbabwe dollars a day.

Currently teachers earn Z$1,200, which is about $US35 on the local parallel market.

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