FREAK Shots: When Money Goes Down the Toilet
At around 231 million percent, Zimbabwe’s hyperinflation (which we’ve written about before) is currently the highest in the world.
Blog reader Ben Saltsman sent us this photo of a restroom sign in South Africa, which hints at one use for Zimbabwe’s severely devalued currency:
But is it cost-effective for Zimbabweans to use money instead of T.P.?
A roll of toilet paper costs about $1.50 U.S. dollars and has about 352 sheets per roll. That means each sheet is worth about US $.004, or 3,600 Zimbabwe dollars, according to OANDA.com.
So according to these calculations, using a ZWD 1,000 note in place of a piece of toilet paper is a wise financial decision.
While American currency isn’t yet considered a cheaper substitute for toilet paper, there are other signs that it’s lost some value: