Thursday, July 3, 2008

Zimbabwe inflation now over 1 million percent

It's a sad day when those that can afford to buy a loaf of bread need to cart 600-million Zimbabwean dollars to the store. But the situation is only set to get worse in the crippled southern African nation. Amid surging inflation and political unrest, the Zimbabwean dollar has depreciated to such an extent that US$1 now buys an average Z$1-billion. The currency traded at equal value to the U. S. dollar in 1983.