Zimbabwe: Everyone is a Billionaire: Hyperinflation

http://www.npr.org/sections/thetwo-way/2015/06/12/413885631/big-change-yields-small-change-as-zimbabweans-exchange-trillions?sc=17&f=1001&utm_source=iosnewsapp&utm_medium=Email&utm_campaign=app

In Zimbabwe, even the trillionaires are struggling to make ends meet.

But that is about to change as the government begins a phasing out of the massively hyperinflated Zimbabwean dollar in favor of a multi-currency regime involving mainly a mix of U.S. dollars and South African rand that, in any case, has been the de facto norm since 2009.

In a bid to stabilize an off-the-rails economy, starting on Monday Zimbabwe's central bank will offer $5 U.S. for every 175 quadrillion (175,000 trillion) Zimbabwean dollars, according to an email send by the bank's governor, John Mangudya. The move, he wrote, has been "pending and long outstanding."