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Apocalypse 2012

Quiz: CNBC QUIZ: Financial Doomsday

Question 6 of 10

In January 1994, what was the daily rate of inflation in Yugoslavia?

  1. .65%
  2. 6.5%
  3. 65%
  4. 650%
Correct!

Prior to its economic collapse in the 1990s, Yugoslavia had experienced two decades of military conflict and political misconduct that had already caused major recessions. However, when the state split into separate regions in the 1990s, it put more strain on the nation’s shaky economy than it could bear.

The country experienced widespread hyperinflation from 1993 through 1995, but during January 1994 the situation became the most dire, and the daily rate of inflation rose to 65%. The official currency of Yugoslavia, the dinar, became so devalued that many businesses refused to accept it, preferring the German Deutsche Mark instead.

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