#0133 · 💰 Money Is Weird
Zimbabwe printed a $100 trillion banknote — and it barely bought groceries
Hyperinflation in Zimbabwe hit a pace in 2008 where prices doubled every couple of days.
At the peak of Zimbabwe's hyperinflation in November 2008, prices were doubling roughly every 24-25 hours — a rate at which money lost real value almost in real time.
The government printed a banknote worth 100 trillion Zimbabwean dollars (100,000,000,000,000) — and at the height of the crisis, that bill covered only a handful of basic groceries.
People carried cash around in plastic shopping bags not for show, but out of necessity — and many chose to spend their entire paycheck the day they got it, because by evening it would already be worth noticeably less.
The stakes: the country eventually abandoned its own currency altogether in favor of the US dollar and other foreign currencies — one of the few documented cases of a sovereign state completely giving up its national currency because its citizens simply stopped trusting it.
Sources
- General knowledge / encyclopedic sources
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Krulicza Nora
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