Jun 24, 2008

Update: The Old Mutual implied exchange rate today is Z$78 billion to 1 USD. So you can chop all of the values listed below in half. Wow. As a followup to this morning’s wrap of the Zimbabwean currency market: it’s fascinating to read the business pages of the Zimbabwean papers and translate the numbers into USD. Here’s the stock market wrap from Pravda’s Zimbabwe edition this morning. (If you’d like to read a Zimbabwean newspaper that isn’t run by Mugabe’s propagandists, the Financial Gazette is apparently quite good.

Jun 24, 2008

Update: Hi to everyone arriving from FT Alphaville, Market Movers and the Economist! If you liked this post, click through to the main page and have a browse. It’s been no secret lately that Zimbabweans are stashing their cash in the stock market, because it’s the only store of value left. ZimbabweEquities.com shows just how ridiculous this has become. Interesting: there’s no longer any official inflation data, and there’s no official exchange rate data, but there is a way to find out how much the Zimbabwean dollar (ZWD) is worth and how fast it’s depreciating.