Professor Mark J. Perry's Blog for Economics and Finance
According to Foreign Policy, the world's five worst currencies are the Somali shilling, Iraqi dinar, North Korean won, Venezuelan bolívar and the world's absolutely worst currency, the dollar of Zimbabwe (pictured above), where inflation is currently 3,713% (see chart above) and is expected to rise over 6,000% in 2008 - now that's hyperinflation! At that rate prices would be doubling about every week, and would be rising almost 1% every hour!
Dr. Mark J. Perry is a professor of economics and finance in the School of Management at the Flint campus of the University of Michigan. Perry holds two graduate degrees in economics (M.A. and Ph.D.) from George Mason University near Washington, D.C. In addition, he holds an MBA degree in finance from the Curtis L. Carlson School of Management at the University of Minnesota. In addition to a faculty appointment at the University of Michigan-Flint, Perry is also a visiting scholar at The American Enterprise Institute in Washington, D.C.
2 Comments:
i had absolutely NO idea a country could have such high inflation rate!!! damn!!!!!
a 100000 currency! ha ha ha ha.....
Back in they day when a currency got like this it just disappeared, the people would go on to use barter or foreign currencies.
But welcome to the modern world, where Governments have the right to ban foreign currencies and alternative means of exchange.
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