Foreign currency rate changes in Zimbabwe (official and parallel markets)


The table below, courtesy of well-known economist John Robertson, shows Zimbabwe’s foreign exchange rate changes for the last five years, with figures forecast for this year. It’s hard to believe that US$ 1 cost a mere Z$ 70 at the the start of 2001. In December last year US$ 1 was equal to Z$ 110,000 and John Robertson has forecast that it will reach Z$ 483,682 by December 2006.

Zimbabwe Foreign Exchange Rate Changes

Technorati Tags: , , , , , , , ,

Share This

This entry was written by Hope on Saturday, January 28th, 2006 at 6:12 pm. You can follow any comments on this entry through the RSS 2.0 feed. You can leave a comment, or trackback from your own site.

4 Responses to “Foreign currency rate changes in Zimbabwe (official and parallel markets)”

  1. Nick Smith
    January 28th, 2006 20:34
    1

    Real Value Table Zimbabwe Dollar as at Jan 2006

    Month Inflation ZD Official Rates Paralles Market (approx.)
    per month US Dollar Rand Pound US Dollar Rand Pound
    2001
    1 4,3 94.758 13.346 168.668 118.447 17.166 206.098
    2 5 94.758 13.346 168.668 118.447 17.166 206.098
    3 7,9 94.758 13.346 168.668 118.447 17.166 206.098
    4 4,9 94.758 13.346 168.668 118.447 17.166 206.098
    5 3,8 94.758 13.346 168.668 118.447 17.166 206.098
    6 8,2 94.758 13.346 168.668 118.447 17.166 206.098
    7 4,4 94.758 13.346 168.668 118.447 17.166 206.098
    8 6 94.758 13.346 168.668 118.447 17.166 206.098
    9 15,9 94.758 13.346 168.668 118.447 17.166 206.098
    10 9,2 94.758 13.346 168.668 118.447 17.166 206.098
    11 3 94.758 13.346 168.668 118.447 17.166 206.098
    12 5,6 94.758 13.346 168.668 118.447 17.166 206.098
    2002
    1 6,6 94.758 13.346 168.668 118.447 17.166 206.098
    2 4,7 94.758 13.346 168.668 118.447 17.166 206.098
    3 6,4 94.758 13.346 168.668 118.447 17.166 206.098
    4 5,3 94.758 13.346 168.668 118.447 17.166 206.098
    5 7,9 94.758 13.346 168.668 118.447 17.166 206.098
    6 4,3 94.758 13.346 168.668 118.447 17.166 206.098
    7 8,8 94.758 13.346 168.668 118.447 17.166 206.098
    8 11,5 94.758 13.346 168.668 118.447 17.166 206.098
    9 18,3 94.758 13.346 168.668 118.447 17.166 206.098
    10 11,2 94.758 13.346 168.668 118.447 17.166 206.098
    11 16,2 94.758 13.346 168.668 118.447 17.166 206.098
    12 14,5 94.758 13.346 168.668 118.447 17.166 206.098
    2003
    1 9,9 94.758 13.346 168.668 118.447 17.166 206.098
    2 9,1 94.758 13.346 168.668 118.447 17.166 206.098
    3 8,8 94.758 13.346 168.668 118.447 17.166 206.098
    4 18,5 94.758 13.346 168.668 118.447 17.166 206.098
    5 16,9 94.758 13.346 168.668 118.447 17.166 206.098
    6 21,1 94.758 13.346 168.668 118.447 17.166 206.098
    7 17 94.758 13.346 168.668 118.447 17.166 206.098
    8 17,6 94.758 13.346 168.668 118.447 17.166 206.098
    9 24,8 94.758 13.346 168.668 118.447 17.166 206.098
    10 25,3 94.758 13.346 168.668 118.447 17.166 206.098
    11 33,6 94.758 13.346 168.668 118.447 17.166 206.098
    12 11,2 94.758 13.346 168.668 118.447 17.166 206.098
    2004
    1 13,7 94.758 13.346 168.668 118.447 17.166 206.098
    2 6 94.758 13.346 168.668 118.447 17.166 206.098
    3 5,9 94.758 13.346 168.668 118.447 17.166 206.098
    4 4,8 94.758 13.346 168.668 118.447 17.166 206.098
    5 6 94.758 13.346 168.668 118.447 17.166 206.098
    6 9,2 94.758 13.346 168.668 118.447 17.166 206.098
    7 9,5 94.758 13.346 168.668 118.447 17.166 206.098
    8 5,3 94.758 13.346 168.668 118.447 17.166 206.098
    9 5,9 94.758 13.346 168.668 118.447 17.166 206.098
    10 10,1 94.758 13.346 168.668 118.447 17.166 206.098
    11 7,8 94.758 13.346 168.668 118.447 17.166 206.098
    12 3,9 94.758 13.346 168.668 118.447 17.166 206.098
    2005
    1 14,1 94.758 13.346 168.668 118.447 17.166 206.098
    2 3,1 94.758 13.346 168.668 118.447 17.166 206.098
    3 4,2 94.758 13.346 168.668 118.447 17.166 206.098
    4 7,4 94.758 13.346 168.668 118.447 17.166 206.098
    5 13,1 94.758 13.346 168.668 118.447 17.166 206.098
    6 18,1 94.758 13.346 168.668 118.447 17.166 206.098
    7 47 94.758 13.346 168.668 118.447 17.166 206.098
    8 8,3 94.758 13.346 168.668 118.447 17.166 206.098
    9 33,3 94.758 13.346 168.668 118.447 17.166 206.098
    10 22,4 94.758 13.346 168.668 118.447 17.166 206.098
    11 26 94.758 13.346 168.668 118.447 17.166 206.098
    12 22 94.758 13.346 168.668 118.447 17.166 206.098
    2006
    1 21 94.758 13.346 168.668 118.447 17.166 206.098
    2 20 94.758 13.346 168.668 118.447 17.166 206.098
    3 19 94.758 13.346 168.668 118.447 17.166 206.098
    4 20 94.758 13.346 168.668 118.447 17.166 206.098
    5 20 94.758 13.346 168.668 118.447 17.166 206.098
    6 17 94.758 13.346 168.668 118.447 17.166 206.098
    7 14 94.758 13.346 168.668 118.447 17.166 206.098
    8 16 94.758 13.346 168.668 118.447 17.166 206.098
    9 12 94.758 13.346 168.668 118.447 17.166 206.098
    10 15 94.758 13.346 168.668 118.447 17.166 206.098
    11 14 94.758 13.346 168.668 118.447 17.166 206.098
    12 10 94.758 13.346 168.668 118.447 17.166 206.098

    We know today what the Zim Dollar is worth in terms of the US Dollar, the Rand and the Pound.

    Reply to this comment — Quote from this comment
  2. Robert
    January 29th, 2006 02:56
    2

    It was about Z$17 to the UK£ when I was there back in 1998, when Mugabe had yet to fall out of favour with just about everyone else, and he even met Tony Blair.

    I remember that year Mugabe once said that (then President) Mandela should “shut up”… and it went down-hill from there (or uphill, if you’re looking at the inflation graphs).

    Reply to this comment — Quote from this comment
  3. Nick Smith
    January 29th, 2006 12:45
    3

    It is today´s Real Value that matters.

    Zimbabweans only know what one US Dollar is worth at the latest parallel exchange rate (in this example Jan 2006 - as quoted). That is its real value now and people relate all other values to the current concept of that real value. As the current parallel rate changes all other values change too. All real values are only valid during the period of the current rate. Every time the current parallel rate changes, all real values change too.

    You then destroy the real value of all constant real value non-monetary items (salaries, wages, rent, interest, taxes, retained income, dividends, issued share capital of companies with no well maintained and well located land and/or buildings, etc) when you do not update them every time the current parallel rate changes.

    Real Value Table Zim Dollar as at Jan 2006
    Official Parallel

    USD USD

    2001
    1 94.758 118.447
    2 94.758 118.447
    3 94.758 118.447
    4 94.758 118.447
    5 94.758 118.447
    6 94.758 118.447
    7 94.758 118.447
    8 94.758 118.447
    9 94.758 118.447
    10 94.758 118.447
    11 94.758 118.447
    12 94.758 118.447
    2002
    1 94.758 118.447
    2 94.758 118.447
    3 94.758 118.447
    4 94.758 118.447
    5 94.758 118.447
    6 94.758 118.447
    7 94.758 118.447
    8 94.758 118.447
    9 94.758 118.447
    10 94.758 118.447
    11 94.758 118.447
    12 94.758 118.447
    2003
    1 94.758 118.447
    2 94.758 118.447
    3 94.758 118.447
    4 94.758 118.447
    5 94.758 118.447
    6 94.758 118.447
    7 94.758 118.447
    8 94.758 118.447
    9 94.758 118.447
    10 94.758 118.447
    11 94.758 118.447
    12 94.758 118.447
    2004
    1 94.758 118.447
    2 94.758 118.447
    3 94.758 118.447
    4 94.758 118.447
    5 94.758 118.447
    6 94.758 118.447
    7 94.758 118.447
    8 94.758 118.447
    9 94.758 118.447
    10 94.758 118.447
    11 94.758 118.447
    12 94.758 118.447
    2005
    1 94.758 118.447
    2 94.758 118.447
    3 94.758 118.447
    4 94.758 118.447
    5 94.758 118.447
    6 94.758 118.447
    7 94.758 118.447
    8 94.758 118.447
    9 94.758 118.447
    10 94.758 118.447
    11 94.758 118.447
    12 94.758 118.447
    2006
    1 94.758 118.447
    2 94.758 118.447
    3 94.758 118.447
    4 94.758 118.447
    5 94.758 118.447
    6 94.758 118.447
    7 94.758 118.447
    8 94.758 118.447
    9 94.758 118.447
    10 94.758 118.447
    11 94.758 118.447
    12 94.758 118.447

    Nick Smith
    RealValueAccounting.Com(The Book) - The next step in our fundamental model of accounting.
    http://www.realvalueaccounting.com

    Reply to this comment — Quote from this comment
  4. Kristopher
    January 30th, 2006 21:05
    4

    Too conservative.

    Expect the inflation rate to go completely asymptotic this coming year. Once the money becomes more valuable as blank paper, regardless of how many zeros are on the note.

    Reply to this comment — Quote from this comment

Leave a comment

All comments will be published after moderation. Comments containing hate speech, obscenities, or expressions of violence will not be published on our site. We ask too that you keep comments on topic and that you engage in discussions with respect for everyone. We reserve the right to NOT publish comments which are in conflict with our core principles. (Please note: comments containing more than six links are automatically treated by our system as spam).

Please enter the numbers below before submitting. This is to help us combat spam.

Click here to support Zimbabwe's struggle for democracy

« “A hungry man is an angry man”


Going hungry… »

  • Photos

    More at Flickr.

Close
E-mail It