How many zeroes does one country need?
ZimbabweanEquities.com has printed yesterday’s OMIR at somewhere north of 164 trillion to the USD. Now, even for Zimbabwe, that seemed kinda high. But…
Old Mutual’s closing price yesterday in Harare was ZW$300,000,000,000;
Ditto in London was 92.8p. The ratio is 1:1, so 1 GBP is worth 300 billion / 0.928, or about 323 billion ZWD;
Interestingly, this still works out to, very roughly, a doubling every three days - or, as I posted previously, 430 trillion trillion trillion percent per annum.
**Edit: **fixed “trillions” that should’ve been “billions”.