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 Replies: 19 / Views: 6,961 |
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Rest in Peace
United States
2668 Posts |
Maybe this ends the argument of the highest denomination currency. Quote:Zimbabwe introduces Z$100bn note
Page last updated at 21:54 GMT, Saturday, 19 July 2008 22:54 UK
Zimbabwe is to introduce a bank-note worth Z$100bn in response to rampant inflation - but the note will barely cover the cost of a loaf of bread. In January, the bank introduced a Z$10m noteSome Zimbabweans are already calling for higher denominations in a country where the official annual inflation rate has exceeded 2,200,000%. Independent economists believe the real rate is many times higher. Zimbabwe's meltdown has left at least 80% of the population in poverty, facing mass shortages of basic goods..... Whole article: http://news.bbc.co.uk/2/hi/africa/7515823.stmJust when you think times are tough, here. Moved to international note forum.Edited by Sap
08/27/2008 04:35 am
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Moderator
 Australia
16868 Posts |
They've got a few orders of magnitude to go before they beat the Hungarian hyperinflation of 1946, which saw issued denominations in the quintillions. At that inflation rate, Zimbabwe will take at least a few more months to reach the record.  However, if they keep putting the zeroes on the notes, they'll soon beat the record for the most number of zeroes; the current record holder is "500,000,000,000" (500 billion) on a Yugoslavian note of the mid-1990's. The Hungarians gave up putting all the zeroes on once they hit the billions - it was just too demoralizing. Don't say "infinitely" when you mean "very"; otherwise, you'll have no word left when you want to talk about something really infinite. - C. S. Lewis
Edited by Sap
07/20/2008 04:22 am
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Pillar of the Community
United States
1984 Posts |
Well, I know there's one thing they won't run out of in Zimbabwe--they'll probably have enough paper to stock all of the outhouses in the country for a long time.
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Valued Member
France
285 Posts |
banknotes wich will not often see major part of people of Zimbabwe but more for president Mugabe ! One of the worst dictators of Africa  |
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Rest in Peace
 United States
2668 Posts |
Well, at least he's made everybody in Zimbabwe millionaires. |
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Pillar of the Community
United States
1840 Posts |
100,000,000,000; it reminds me of Doctor Evil from the Austin Powers movies.
The funny thing about these notes is that they have expiration dates of less than a year after they were printed. I guess minimally they'll make money off of collectors who don't return them to circulation.
Edited by snowman
07/21/2008 8:03 pm
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Pillar of the Community
United States
790 Posts |
I just came across a Zimbabwe 1c from 1994. Not that long ago I guess 1c was worth something. So a $100,000,000,000 would buy $10,000,000,000,000 cents (is that 10 trillion!).
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Pillar of the Community
United States
5318 Posts |
If they marketed these right, perhaps they could sell these to currency collectors for $1 each and help support their currency?
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Pillar of the Community
United States
790 Posts |
They could probably sell them for a lot more on hsn.
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Valued Member
United States
77 Posts |
If the U.S were to do that, who do you think would be on the note? Hypothetically speaking of course that the U.S. would make a billion dollar note.
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Valued Member
United States
100 Posts |
How many US dollars is this 100,000,000,000 dollar note worth?
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Pillar of the Community
United States
1840 Posts |
According to https://www.xe.com1.00 USD = 18,681,527,512.36 ZWD -or- 100,000,000,000.00 ZWD = 5.35 USD |
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Pillar of the Community
United States
790 Posts |
Until you blink, then its only worth half that!
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Rest in Peace
United States
2668 Posts |
Which one?  |
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Pillar of the Community
Germany
1238 Posts |
Ah, the time of the many zeros will soon be over ... for a while. As from 1 August, Zimbabwe will have a "New Dollar". Ten billion old dollars will then be one New Zimbabwe Dollar.
Christian
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Pillar of the Community
Poland
3201 Posts |
However, changing the name without any economic measures, will merely "cut the zeroes" and nothing more. Reminds me of Hungary 1945/6. They also did that.
Or are there any reforms planned?
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Replies: 19 / Views: 6,961 |
Posted 07/20/2008 04:28 am
