eHow launches Android app: Get the best of eHow on the go.

About

Zimbabwe Currency Vs. India

Contributor
By Andy Noorlander
eHow Contributing Writer
(0 Ratings)

These two third-world countries' currencies have taken very different paths since each nation attained independence. Although the Indian rupee has come a long way on a bumpy road to reach its current stability, its path looks gentle and easy when compared to the incredible turmoil of the Zimbabwe dollar's history and dire present state.

    The Zimbabwe Dollar

  1. Zimbabwe's national currency since 1980 was the Zimbabwe dollar, written with the symbol Z$. Like the U.S. dollar, one unit divided into 100 cents, although with the currency's high inflation, these smaller units were rarely used for purchasing.
  2. Hyperinflation of the Zimbabwe Dollar

  3. In the early 21st century, hyperinflation caused the Reserve Bank of Zimbabwe to redenominate the value of the dollar three times, shifting it by three to 12 decimal places in an effort to stem the currency's worthlessness. Government regulations attempted to halt the problem by outlawing inflation and punishing business for raising prices, but this did not succeed in fixing the problem. Inflation rates continued to soar into the hundreds of thousands of percentage points until the currency was abandoned shortly after the introduction of the Z$100 trillion note.
  4. Zimbabwe Currency Today

  5. Since the Zimbabwe dollar was suspended indefinitely on April 12, 2009, other currencies have taken its place. Whereas it was outlawed for many years, all Zimbabweans can now use the US dollar, the South African rand, the pound sterling, the euro or the Botswana pula as currency.
  6. The Indian Rupee

  7. India's national currency is the Indian Rupee (INR), written as Rs or IRs. One rupee divides into 100 paise (a singular unit is called a paisa). Although exchange rates shift slightly from day to day, the Indian rupee represents a relatively stable currency where one US dollar has been roughly equal to anywhere from 45 to 50 rupees. Large sums of rupees are called lakhs and crores, the former meaning one hundred thousand and the latter signifying 10 million rupees.
  8. Exchange Rates

  9. Current conversion rates between the redenominated Z$ and the INR can be found at www.xe.com. But since most Zimbabweans opt to use other currencies for convenience's sake, exchange rates from US dollars and South African rand to INR are at least as useful.
Subscribe

Post a Comment

Post a Comment Post this comment to my Facebook Profile

eHow Article: Zimbabwe Currency Vs. India

Related Ads

Get Free Personal Finance Newsletters

Copyright © 1999-2009 eHow, Inc. Use of this web site constitutes acceptance of the eHow Terms of Use and Privacy Policy.   en-US Portions of this page are modifications based on work created and shared by Google and used according to terms described in the Creative Commons 3.0 Attribution License.

eHow Personal Finance
eHow_eHow Business and Finance