Tuesday, April 8, 2008

World's Most Worthless Money


Zimbabwe


As Indians worry about the rate of inflation exceeding 7 percent, we should consider Zimbabwe, where the inflation rate broke the shocking 100,000 percent mark and the country released a 10 million-dollar note (now valued below $4 on the black market). But Zimbabwe's currency is hardly the only one inflated beyond reason.


Iran




50,000-rial note. U.S. value: $5.35.
Since the 1979 revolution, Iran's inflation rate has hovered around 15 percent, thanks in part to ever-rising oil prices.

Guinea


10,000-franc note. U.S. value: $2.33
In 2002, the mineral-rich African country refused to implement reforms mandated by the International Monetary Fund; foreign cash dried up, and the central bank printed too much money.