Refer to the "World View" below:
World View: Zimbabwe's Trillion-Dollar Currency
Imagine the price of coffee doubling every day. Or the price of a textbook soaring from $100 to $12,800 in a single week! Sounds unbelievable. But that was the day-to-day reality in Zimbabwe in 2008-09 when the inflation rate reached an astronomical 231 million percent.
The Zimbabwean currency lost so much value that people needed a sackful to buy a loaf of bread. To facilitate commerce, the Zimbabwe central bank printed the world's first $100 trillion banknotes. Within a week that $100 trillion note was worth about 33 U.S. dollars - enough to buy 6 loaves of bread.
Source: News reports, January 2009.
What was the price of a loaf of bread in Zimbabwe, measured in:
Instructions: Enter your responses rounded to two decimal places.
(a) U.S. dollars? $
(b) Zimbabwe dollars? $ trillion
Refer to the "World View" below:
| World View: Zimbabwe's Trillion-Dollar Currency |
|
Imagine the price of coffee doubling every day. Or the price of a textbook soaring from $100 to $12,800 in a single week! Sounds unbelievable. But that was the day-to-day reality in Zimbabwe in 2008-09 when the inflation rate reached an astronomical 231 million percent.
Source: News reports, January 2009. |
What was the price of a loaf of bread in Zimbabwe, measured in:
Instructions: Enter your responses rounded to two decimal places.
(a) U.S. dollars? $
(b) Zimbabwe dollars? $ trillion
