Zimbabwe introduces 100 billion note

I pointed Zimbabwe’s currency carries an expiry date. One of the comments told me that it is actually like a bearer’s cheque.

Zimbabwe’s inflation has  been increasing at a crazy rate and it keeps coming out with higher and higher denomination currency notes. In January, Z$10 million note, followed by a Z$50 million. By June the denominations had reached tens of billions.

Now, with official inflation at  2.2 million % per annum,  Zimbabwe has launched a Z$ 100 billion note which carries an expiry date of 31 December 2008. 100 bn Z$ can buy you 2 loaves of bread or 3 eggs or 4 oranges!! The $Z 100 bn note is available at ebay for $80 as a collector’s item.

Further this article says million dollar notes are worthless:

Notes in the millions of dollars are useful only as toilet paper and it’s cheaper to light a fire with low denomination bills than with newspaper.

This is how inflation just gets out of hand and becomes a spiral.

One Response to “Zimbabwe introduces 100 billion note”

  1. markson samson Says:

    how can exchange my100 dollar billion of zimbabweis ma in special agro cheque

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