Value Of Zimbabwe Dollar
We have put together a list of costs of goods in Zimbabwe from 1982, going up every four years (1986, 1990…) for comparisons. While this has not been done by professional economics scholars (see Poverty Datum Line (PDL) and more), we hope this will be representative, and real, and allow people to make some simple comparisons between “then” and “now” in an anecdotal manner. Selected August because it was “Show Week” in Harare.
They are taken from newspapers (The Herald, Financial Gazette, etc.), both from paid advertisements and classifieds (e.g. second hand cars). In the case of advertisements, “sales” were avoided as these would not be usual prices.
The wealth of Zimbabweans has, on average, declined since independence. GDP per capita touched $1,540 in 1980, despite being suppressed by 15 years of war. This crept up to $1,690 by 2001, a poor performance given the inflow of aid and the end of sanctions. Then began a precipitous fall to $824 by 2008. By 2013, it had increased to $1,422, after which it fell again to $1,290 by 2021. Now (2023) Zimbabwe is in per capita income terms where it was in 1972. [1]
For a contextual glimpse of what has happening then, see History of Zimbabwe Timeline.
For related profiles see:
- Reserve Bank of Zimbabwe
- Ministry of Finance
- Black Friday 14 November 1997
- Economic Crisis in Zimbabwe
- Blended Inflation and Consumer Price Index (CPI)
- Price Controls in Zimbabwe
- Zimbabwe Inflation Rates
- Zimbabwean Dollar Notes and Denominations
- Zimbabwe Bond Notes
- Zimbabwe 50 dollar note
- Zimbabwe's 2014 Bond Coins
- Bank Rate in Zimbabwe
- Disposable Income
- Bernard Chidzero
- John Mangudya
- Gideon Gono
- Tendai Biti
- Patrick Chinamasa
August 1982
The Herald, 10c
Food
Vegetables
potatoes, 59c, 65c/2kg, $1.59/5kg, $3.50 to $4.30/15kg.
onions, 39c/500g.
tomatoes, 35c/500g, 60c/kg.
lettuce, 9c.
cabbage, 22c , 29c/head.
Meat
Beef, $1.99 per kg.
rump, $2.70 per kg, , rump, $14.90/kg.
steak mince, $1.29/kg.
Boerewors, $1.64/1kg, $1.99/kg.
Pork Chops, $1.99/kg.
boneless pork chops.
Colcom pork sausages, 79c/500g.
whole Chicken (minimum 1.25 kg), $2.59
mixed chicken portions, $10.29/5kg.
legs, $11.39/5kg.
Drinks
Cold drinks, family size, crown top, 23c.
Mazoe 2l, $1.01.
Tanganda tea, 65c/250g, $1.52/500g.
Tins
Condensed milk, tin, 67c, 68c.
Corned Beef, 21c, 99c.
Other
roller meal (mealie meal), 45c/5kg, 47c/5kg,
Stork Maragarine, $1.72/2kg,
sunsweet sugar, 25c/kg
Household
Jade Soap, 44c.
Green bar soap, 55c / bar, to 52c / bar.
Three piece large sofa suite, $235, $399, $550.
Four piece, $495, $609.
60W light bulbs (2 pack), 39c.
LPS (vinyl music!), $3.99, singles, 15c.
Electricity, $2.25 / KWh
Clothes
Men’s shirts $7.95 to $18.95, $7.95 to $21.15.
Short Sleeved shirts, $7.95, $8.99
Vehicles (second hand)
1969 Alfa 1300, $1550.
Alfa Sud, $4500, $4600.
Renault R4, $1200.
Forex
Forex telegraphic buy rates per Z$
US$, 1.30
Rand 1.52
GBP 76.54
US$ 1.31
R 1.51
GBP 76.74
Other costs
Cllrs Allowances, $2250 maximum, per year (for the highest ratings). So could be $1000 to $1250 for an average Cllr.
State Lottery First prize, $50 000, Second $15 000, Third $7 500.
Bus fare, South Street to Harare Show, 10c. Runs hourly.
July 1997
Other costs
War veterans payouts:
- Lump payment - Z$50 000, (about US$3 500)
- Monthly Pension - Z$2 000, (about US$142)
Total Cost - Z$4.2 billion, (over US$300 million) - 1:14 Z$:US$ [2]
Zimbabwe Inflation 2006 to 2008
The Reserve Bank of Zimbabwe demonetized old banknotes on 1 August 2006 and introduced a new currency. Each new Zimbabwe dollar was worth 1000 old Zimbabwe dollars. The highest denominations for the new currency were 1, 10, and 100 thousand revalued dollars. A year later on 1 August 2007, Gono authorized a 200 thousand dollar denomination. This marked the start of a series of new denominations issued in rapid succession, including 250, 500, and 750 thousand dollars (20 December 2007); 1, 5, and 10 million dollars (16 January 2008); 25 and 50 million dollars (4 April 2008); 100 and 250 million dollars (5 May 2008); 500 million and 5, 25, and 50 billion dollars (20 May 2008); and 100 billion dollars (21 July 2008). From the time of currency revaluation to the beginning of June 2008 the money supply in the country increased from billion to more than quadrillion, or a 20,000,000 fold increase. [3]
- ↑ Zimbabwe needs a second liberation – from the liberators themselves, Daily Maverick, Published: 26 March 2023, Retrieved: 26 March 2023
- ↑ [David Coltart The Struggle Continues: 50 Years of Tyranny in Zimbabwe], Jacana, Published: 2016, p 246
- ↑ Veritas Slash the Zim.Dollar zeros again, The Zimbabwean, Published: 30 July 2008, Retrieved: 16 December 2014
