Steve H. Hanke's blog

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This year, Zimbabwe once again experienced a bout of hyperinflation, not due to dollarization, but because the Zimbabwean government is issuing, in effect, a new currency that is circulating parallel to the U.S. dollar. Currently (11/8/17), the annual inflation rate is at 343%.

Steve H. Hanke's picture

Last December, the Iranian government passed a bill to rename its national currency from the rial to the toman. This would require a redenomination in which a zero was lopped off Iran’s unit of account. But, without monetary and exchange rate regime change, the proposed amounts to a great illusion.

Steve H. Hanke's picture

At present (10/11/17), Zimbabwe’s annual inflation rate has soared to 332.62%. This makes it the second highest inflation rate in the world after Venezuela.