Have you heard of the Zimbabwe hyperinflation currency? Well, starting around 1999, the currency of Zimbabwe experience ginormous inflation, and people now had to carry boatloads of the older currency just to buy groceries. Here's an example:
Seriously - now they are trying to work out a deal with the US mint to supply them with American coins - they already use US $, and South African rands. Zimbabwe used to be the "Pearl of Africa" but under their current leadership they have descended to an abysmal state.
Well, we have had a few topics about those Zimbabwe hyperinflation notes, such as this recent one: http://www.cointalk.com/threads/love-this-note.233082/ Sure makes sense for them, now that the Zimdollar is basically dead, to use coins again. Don't know why they would import them from US though; wouldn't it be easier (in terms of logistics) to use South African Rand coins? As you wrote, the ZAR is used in Zimbabwe too ... Christian
We always keep several at the shop I work at. It's interesting for people to see such high-denomination currency and the economics that went into play. Also it's cool to think you're a Zimbabwean billionaire, even though it means nothing here haha
Not really. During the worst periods of inflation, prices would go up 4-5 times per day. People got paid in hoards of Z$ and had to immediately spend it. Eventually most people just stopped accepting Z$ altogether. A person would starve on just a billion Zimbabwean dollars. Yeah it is interesting conceptually, but in reality the impacts are real. It was very sad that to see people in such despair.
