Wednesday, October 29, 2008

So, you thought inflation in India was a problem?

[As mentioned in my other blog: VNA Unleashed: few questions, here is the mail that I had received regarding the high inflation rate]

1.00 INR = 434,637,557. 63 ZWD
India Rupees Zimbabwe Dollars

1.00 ZWD = 0.00000000230077 INR

The amazing story of Zimbabwe from our colleagues covering the story...

A street vendor holds a recently issued Zimbabwe $250-million note in the capital Harare May 10, 2008. The Zimbabwe's central bank released the new Z$100-million and Z$250-million notes this week in its latest attempt to ease the effects of hyperinflation. REUTERS/Philimon Bulawayo (ZIMBABWE)

Zimbabwe's President Robert Mugabe attends a U.N. crisis summit on rising food prices at the Food and Agriculture Organisation (FAO) in Rome June 3, 2008. World leaders opened a conference on the global food crisis on Tuesday with the World Bank and humanitarian agencies demanding action to curb soaring prices that could push up to 100 million people into hunger. REUTERS/Alessandro Di Meo/Pool (ITALY)

A man shops inside a clothing shop in central Harare May 13, 2008. Traders in Zimbabwe--which has the highest inflation rate in the world above 165,000 percent, are now selling clothes in millions and billions of Zimbabwe dollars. The Zimbabwe dollar, which had been officially pegged at 30,000 to the United States dollar before the rules were changed, traded at an average Z$165 million to the greenback. The interbank exchange rate was significantly lower than black market rates, which hovered around Z$130 million to the United States dollar. REUTERS/Philimon Bulawayo (ZIMBABWE)

Emily Moyo buys tomatoes at a market in the capital Harare March 21, 2008. Her husband Tendai is a school teacher earning 500 million Zimbabwe dollars a month. Tomatoes at this stall are normally sold at 3 million dollars for three. Zimbabwe is suffering an economic meltdown with inflationofficially pegged at over 100,000 per cent per annum. REUTERS/Philimon Bulawayo (ZIMBABWE)

Zimbabwe opposition Movement for Democratic Change (MDC) supporters show old worthless bank notes at an election rally in Chitungwiza, near the capital Harare, March 27, 2008. REUTERS/Howard Burditt (ZIMBABWE)


Splash Press said...

Thanks Vivek and sorry for the late reply...have been real busy off late...
Now its too late to wish you diwali and too soon for the new year... :)

Tonnet said...

Its very difficult to believe but true. Thanks to politics and something called economy.

A.V. - अ.वि. said...

recently i also received it in mail and was wondering if it is true.. while searching on net i found ur blog and indeed it looks interesting... :)
i'll keep checking it once in a while... keep it up.

btw, u r also from Pune? good :)