Free Updates

Let us tell you when new posts are added!

Email:

Navigation

Categories

Search

Archives

<July 2008>
SunMonTueWedThuFriSat
293012345
6789101112
13141516171819
20212223242526
272829303112
3456789

More Links


 Wednesday, January 23, 2008
Zimbabwe issues world's highest denomination note
Posted by David

newzim.jpgSay, got a spare $10,000,000 on you? That's right, $10 million.

Due to an economic crisis and what reporters are now calling "superinflation," Zimbabwe recently issued a note denominated 10 million Zimbabwe dollars

Sadly, the exchange value for a Zimbabwe $10 million note is about U.S. $4 on the black market.

Or, as this only slightly older story says, "A regular loaf of bread would cost US$25 (€18) at the official exchange rate of 30,000-1 or between 40 and 15 U.S. cents at the sharply veering unofficial rate of between 2 million-1 and 5 million-1."

The cost of a hamburger, which each story attempts to use as an example, apparently varies. Maybe these reporters should switch to pizza.

The previous highest denomination note, $750,000, was also a Zimbabwe issue introduced a month or so ago. 

An upcoming issue of Bank Note Reporter will show images of some of these notes.


Added 03/17/2008: I've now posted here the images of the front and back of the new $10,000,000 note that appeared in the March issue of Bank Note Reporter. The images were provided courtesy of Frank van Tiel.



1/23/2008 3:07:53 PM (Central Standard Time, UTC-06:00)  #  Comments [0]