Hyperinflation in Zimbabwe is an ongoing period of currency instability in Zimbabwe which, using Cagan's definition of hyperinflation, began in February 2007. During the height of inflation from 2008 to 2009, it was difficult to measure Zimbabwe's hyperinflation because the government of Zimbabwe stopped filing official inflation statistics. However, Zimbabwe's peak month of inflation is estimated at 79.6 billion percent month-on-month, 89.7 sextillion () percent year-on-year in mid-November 2008.[1]
In April 2009, Zimbabwe stopped printing its currency, and currencies from other countries were used.[2] In mid-2015, Zimbabwe announced plans to have completely switched to the United States dollar by the end of that year.[3]
In June 2019, the Zimbabwean government announced the reintroduction of the Real Time Gross Settlement dollar (RTGS), to be known simply as the "Zimbabwe dollar", and that all foreign currency was no longer legal tender.[4] By mid-July 2019, inflation had increased to 175%, sparking concerns that the country was entering another period of hyperinflation.[5][6] In March 2020, with inflation above 500% annually, a new task force was created to assess the currency problems.[7][8] By July 2020, annual inflation was estimated to be 737%.[9]
^"Hanke S., & Kwok, A. (2009) "On the Measurement of Zimbabwe's Hyperinflation", Cato Journal, 29 (2)" (PDF). Archived (PDF) from the original on 7 September 2019. Retrieved 11 July 2015.
^"Zimbabwe Abandons Its Currency". BBC. 29 January 2009. Archived from the original on 5 September 2011. Retrieved 22 April 2011.
^McGee, Patrick (12 June 2015). "Zimbabwe ditches its all but worthless currency". Financial Times. Archived from the original on 11 July 2015. Retrieved 2 February 2016.
^Sguazzin, Anthony. "Zim's dollar returns, a decade after it became worthless". Fin24. Archived from the original on 24 June 2019. Retrieved 25 June 2019.
^Samaita, Kevin (15 July 2019). "Zimbabwe's inflation doubles up to 175%". BusinessLIVE. Archived from the original on 16 July 2019. Retrieved 16 July 2019.
^Muronzi, Chris (16 July 2019). "Could new figures forecast hyperinflation for Zimbabwe?". Al Jazeera. Archived from the original on 16 July 2019. Retrieved 16 July 2019.
^Ndlovu, Ray; Goko, Colleen (11 March 2020). "Zimbabwe Turns to 'Task Force' in Bid to End Currency Rout". Bloomberg News. Archived from the original on 19 March 2020. Retrieved 19 March 2020.
^"Government sets up currency stabilisation task force". The Herald. Harare, Zimbabwe. 11 March 2020. Archived from the original on 12 March 2020.
^Ndlovu, Ray (14 July 2020). "Zimbabwe Steps Closer to Hyperinflation With 737.3% Annual Rate". Bloomberg L.P. Archived from the original on 14 July 2020. Retrieved 30 July 2020.
and 27 Related for: Hyperinflation in Zimbabwe information
HyperinflationinZimbabwe is an ongoing period of currency instability inZimbabwe which, using Cagan's definition of hyperinflation, began in February...
In economics, hyperinflation is a very high and typically accelerating inflation. It quickly erodes the real value of the local currency, as the prices...
period of hyperinflation. The Zimbabwean dollar was introduced in 1980 to directly replace the Rhodesian dollar (which had been introduced in 1970) at...
decline (and in the latter years, hyperinflation), though it has since seen rapid growth after the use of currencies other than the Zimbabwean dollar was...
crops including tobacco and coffee. Zimbabwe has also sustained the 30th occurrence of recorded hyperinflationin world history. Government spending is...
Reserve Bank of ZimbabweZimbabwean dollar HyperinflationinZimbabwe Economy of Zimbabwe Mosi-oa-Tunya (coin) The current Zimbabwean dollar reuses the...
Hyperinflationin Venezuela is the currency instability in Venezuela that began in 2016 during the country's ongoing socioeconomic and political crisis...
Hyperinflation affected the German Papiermark, the currency of the Weimar Republic, between 1921 and 1923, primarily in 1923. The German currency had...
usage. During the height of hyperinflationinZimbabwein 2008, people became accustomed to speaking about their daily expenses in terms of trillions. When...
internationally due to his connection to the hyperinflationinZimbabwe. Gideon Gono went to Daramombe High School in Chivhu, an Anglican Mission school. He...
June 2023. "Hanke S., & Kwok, A. (2009) "On the Measurement of Zimbabwe'sHyperinflation", Cato Journal, 29 (2)" (PDF). Archived (PDF) from the original...
Zimbabwe has a multi-currency system, introduced in 2009 after the hyperinflation of the Zimbabwean dollar. In addition to the ZiG, foreign currencies are...
used in the multi-currency system that arose in 2009, when Zimbabwe abandoned the Zimbabwean dollar in response to several cycles of hyperinflation. The...
White Zimbabweans are Zimbabwean people of European descent. In linguistic, cultural, and historical terms, these Zimbabweans of European ethnic origin...
Depression, the 1985–1994 Brazilian economic crisis, or the 2008–2009 hyperinflationinZimbabwe. Other writers have also compared aspects of the crisis, such...
ruble as their de facto currency. Due to hyperinflationinZimbabwein 2006 to 2008, the government of Zimbabwe has allowed circulation of foreign currency...
Land reform inZimbabwe officially began in 1980 with the signing of the Lancaster House Agreement, to reverse the distribution of land that resulted...
to hyperinflationinZimbabwe from 2006 to 2008, the government of Zimbabwe has allowed circulation of foreign currency since 2008. The Zimbabwean dollar...
present. Zimbabwe's path toward hyperinflation began at the beginning of its independence in the 1970s. In 2000, inflation within Zimbabwe hit its peak...
historical cost accounting in the presence of high inflation and hyperinflation. For example, in countries experiencing hyperinflation the International Accounting...
Rhodesian dollar replaced the Rhodesian pound in 1970 and it was used until Zimbabwe came into being in 1980. Republic of Texas: the Texas dollar was...
Hyperinflationin Brazil occurred between the first three months of 1990. The monthly inflation rates between January and March 1990 were 71.9%, 71.7%...
Zimbabwe Economic rank, by nominal GDP (2007): 156th (one hundred and fifty sixth) HyperinflationinZimbabwe Communications inZimbabwe Internet in Zimbabwe...
due to the outbreak of World War I. In particular, the Papiermark was the currency issued during the hyperinflationin Germany of 1922 and 1923. From 1914...
the country's reserve. Since abandoning the Zimbabwean dollar in 2009 after it went into hyperinflation the country began using a number of foreign currencies...
awareness of the newspaper itself, and of the growing problems of hyperinflationinZimbabwe and increasing restrictions on free speech by the government....