How many Zimbabwe dollars can be exchanged for one RMB?

1 RMB can be exchanged for nearly 40 trillion Zimbabwean dollars. Because China has not established direct currency exchange with the Zimbabwean dollar, there is no accurate quota exchange rate standard. We can use the direct exchange rate between the Zimbabwean currency and the US dollar to indirectly calculate the exchange rate with the RMB. According to the official exchange rate, 10 trillion gold dollars are worth 2 cents, 20 trillion gold dollars are worth 4 cents, 50 trillion gold dollars are worth 2 cents, and 100 trillion gold dollars are worth 40 cents, which is equivalent to two in the supermarket. The price of buns.

1. Zimbabwean dollar:

The Zimbabwean dollar is the currency issued by the central bank and is also the legal currency of Zimbabwe. Each US dollar is divided into 100 cents, and its symbol is abbreviated as "$ ” or “Z$” (different from its patient currency in “yuan”). The ripples on the shield symbolize Zimbabwe's vast waters. Underneath the shield are world-famous cultural sites. On top of the shield stands a five-pointed star and a Zimbawe bird. The bird is a symbol of national and national aspirations, as well as a symbol of the ancient culture of Zimbabwe and African countries.

2. The reasons why the Zimbabwean dollar is worthless:

The black leaders of Babuwe have no experience in governing, and due to years of drought and uneven land distribution (49% of the country’s land area is Occupied by more than 200,000 white immigrants), Zimbabwe's financial and economic difficulties gradually emerged. From 1980 to 1985, Zimbabwe's per capita GDP dropped from nearly US$1,000 to nearly US$600, and even dropped to nearly US$300 during the 2018 financial crisis. It can be said that since Zimbabwe's independence, its economy has been on a downward trend. In response to the economic crisis, Zimbabwe came up with a "smart plan" to continue printing money. The direct consequence of crazy money printing is inflation. According to official statistics in July 2008, Zimbabwe's inflation rate even reached 231 million. Afterwards, instead of stopping the losses in time, Zimbabwe issued new banknotes with a market value of 50 billion yuan and 100 billion yuan.

It is worth mentioning that, according to South African media reports, at the beginning of this year, Zimbabwe officially signed a currency swap agreement with China. The currency swap agreement means that under certain conditions, either party can exchange a certain amount of The local currency is converted into the equivalent currency of the other party for bilateral trade and investment settlement or to provide short-term liquidity support for the financial market. After maturity, both parties exchange their local currencies, and the fund user pays corresponding interest at the same time. By doing so, Zimbabwe can improve its beleaguered bilateral trade.