The only poorest country left is Zimbabwe, a landlocked country in southeastern Africa. One hundred million Zimbabwean dollars are worthless, and many people sell them directly on the market.
Do you know how much US dollars is exchanged for 1 RMB?
1 RMB = 0.1427 US dollars, and 1 RMB can be exchanged for more than 8 billion Zimbabwe dollars. We can see how worthless the Zimbabwe dollar is. Zimbabwe is a country so poor that only money is left.
The Republic of Zimbabwe, formerly known as Rhodesia, is a landlocked country in southeastern Africa. It became independent on April 18, 1980. It became a colony of the British South Africa Company in 1890. At that time, Zimbabwe's agricultural development level was relatively high.
Known as the "breadbasket" of southern Africa, in the 1960s, the Zimbabwe African People's Union and the Zimbabwe African National Union were established successively to fight against white racist rule. Then in 1980, Zimbabwe became independent.
In the early days of independence, Zimbabwe's economic development was not lagging behind. Zimbabwean President Robert Gabriel Mugabe implemented the "fast track land reform" in 2000, driving away white farmers, grabbing land, and distributing it to his cronies, 20
In the late 1990s, the Mugabe government made serious monetary policy errors, which led to currency devaluation, economic loss of control, and severe hyperinflation. Hyperinflation is when prices rise rapidly, and the currency quickly loses its value.
In 2008, Zimbabwe printed the world's largest denomination of currency, one hundred trillion Zimbabwe dollars, so 100 million Zimbabwe dollars is nothing at all in Zimbabwe.
In 2009, Zimbabwe replaced its own currency with US dollars and South African rands, which restored the collapsed economic situation and led to economic recovery.
But this still makes it difficult for Zimbabwe’s economic situation to improve. Many people there still cannot afford to eat and need help from other countries to survive. The money printing industry is a very popular industry in Zimbabwe. Many people sell money directly on the roadside.
, so money is not valuable there at all.