Zimbabwe: Country's Currency Conundrum

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DURING 2007 and 2008, inflation in Zimbabwe soared. So great was Zimbabwean inflation that it became impossible for the Central Statistical Office to measure it authoritatively.

Prices escalated continuously, as did all other elements of cost of living, stimulating hyperinflation of such magnitude that it was higher than ever before sustained anywhere in the world. The monolithic inflation was so great that in November 2008 Professor Steve Hanke of Johns Hopkins University in the US estimated the annual inflation rate to equate to 65 followed by 105 zeros!

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