1 Million Zimbabwe Dollar to IDR: Understanding the Worth
Are you curious about the value of 1 million Zimbabwe dollars in Indonesian Rupiah (IDR)? In this article, we'll explore the exchange rate and provide insight into the economic context of Zimbabwe and Indonesia.
Zimbabwe's Economic History
Zimbabwe, a country located in Southern Africa, has experienced a tumultuous economic history. Hyperinflation in the late 2000s led to the abandonment of the Zimbabwe dollar (ZWD) in 2009. The government adopted a multi-currency system, with the US dollar (USD) and other foreign currencies becoming the primary mediums of exchange.
The Zimbabwe Dollar's Demise
The Zimbabwe dollar was officially abolished in 2015, and the government adopted the RTGS dollar (Real Time Gross Settlement) as the new local currency in 2019. However, the new currency struggled to gain traction, and the economy continued to rely heavily on foreign currencies.
IDR: A Stable Currency
In contrast, the Indonesian Rupiah (IDR) has maintained relative stability, backed by Indonesia's growing economy and strong monetary policy.
Exchange Rate: 1 Million ZWD to IDR
As of the last available exchange rate in 2019, 1 million Zimbabwe dollars (ZWD) was equivalent to approximately:
- 35,000 IDR (using the RTGS dollar exchange rate)
- 5,000 IDR (using the pre-2009 Zimbabwe dollar exchange rate, for illustration purposes only)
Please note that these exchange rates are approximate and may vary depending on the current market conditions and the source of the exchange rate.
Conclusion
The value of 1 million Zimbabwe dollars in IDR is difficult to determine due to the complexities of Zimbabwe's economic history and the abolition of the Zimbabwe dollar. However, using the available exchange rates, we can estimate the value to be around 35,000 IDR. This article aims to provide a general understanding of the economic context and the exchange rate. For current and accurate exchange rates, please consult a reliable currency exchange service or financial institution.
