Monday, January 14, 2008
The news from Zimbabwe continues to be sad. One point of reference: At the time of its introduction in 1980, the Zimbabwean dollar was still worth more than the US dollar, with ZWD 0.68 = USD 1.00. In 2006 the Zim dollar was revalued at one dollar for every 1,000 dollars. The exchange rate at the time was $1 US for every Z$650. As of 1/8/2008, the exchange rate was $1 US for Z$3,000,000.