Zimbabwe’s inflation is the second highest in the world: Prof Steve Hanke

Acclaimed economist and currency expert Steve Hanke who is a professor of Applied Economics and co-director of the Institute for Applied Economics, Global Health, and the Study of Business Enterprise at the Johns Hopkins University in Baltimore in the United States states that Zimbabwe’s inflation at present (09/29/17) has soared to 242.72% which makes it the second highest inflation rate in the world after Venezuela. 

He used what is known as the Old Mutual Implied Rate (OMIR) where he used the ratio of the Old Mutual share price in Harare to that in London which he states equals the Zimbabwe dollar/sterling exchange rate. To convert the resulting Zimbabwe dollar/sterling exchange rate to a Zimbabwe dollar/U.S. dollar rate, he multiplied the Zimbabwe dollar/sterling rate by the sterling/U.S. dollar rate. 

More: Forbes

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