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"100 trillion face value currency is a thing of the past", what happened to Zimbabwe's currency?
Zimbabwe, known as the granary of southern Africa, once lived a fairly rich life. Unfortunately, the good times did not last long. Due to the failure of Zimbabwe's political and economic reform, improper remedial measures and countermeasures, and domestic political problems, Zimbabwe's economy eventually declined and fell into collapse. Zimbabwe's economic collapse, the most intuitive is inflation, the rapid depreciation of the currency.
Since 2000, Zimbabwe's economy has been declining rapidly, and Zimbabwe has tried its best to prevent the rapid economic decline. At the worst time, Zimbabwe's prices doubled every day, much worse than the so-called usury. In 2008, Zimbabwe's monthly inflation rate reached 80 billion pounds. Faced with such a grim situation, the only way for the Zimbabwean government to deal with it is to print money and keep printing money. At the beginning of 2009, Zimbabwe officially launched a currency with a face value of 100 trillion.
But printing money alone can't solve the economic problem, and it is likely to fall into a vicious circle, similar to drinking poison to quench thirst. Unable to cope, Zimbabwe finally announced that it would give up its own currency and adopt multi-national currencies such as the US dollar for settlement. Since then, Zimbabwe's currency has officially withdrawn from the market, becoming a thing of the past, history and everyone's collection.
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