$20 Million Zimbabwe Dollars now = $1USD, Prices Slashed on The Million Zimbabwe Dollar Homepage!
Yesterday the Zimbabwe dollar had its largest one-day decline against the US dollar since the country’s independence from Britain in 1980. On the black market $1USD will get you Z$20,000,000. The official rate is Z$30,000 per $1USD.
The currency slumped to 20 million per dollar, from 6 million yesterday… Demand for foreign currency “has suddenly gone through the roof,” said Takesure Hove, who buys and sells currencies in an area of Harare traders call Wall Street. “Perhaps the central bank needs U.S. dollars to finance the election next month and they’re buying it through their people.
“With elections looming and budgets depleted two months into the year, it is inevitable that the Zimbabwe dollar will continue to slide and that the slide will become exponentially rapid,” Robertson said. “It’s been a general rule that whenever government has been in urgent need of foreign currency, the black market rate tumbles.”
“Even the very wealthy are surviving to a large extent on what vegetables they can grow in the gardens. This latest crash will destroy many people’s lives.”
Zimbabwe has the world’s highest inflation rate of 100,580 percent.
I’ve been selling pixels on The Million Zimbabwe Dollar Homepage based on the official rate – $0.03USD for 900 pixels. But this recent huge drop in the Zimbabwe currency has forced me to cut prices. I’m now selling 900 pixel blocks for US$0.01.
