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Matt Bejang
Matt Bejang

Buy One Hundred Trillion Dollars Zimbabwe

Throughout the late 90's and the 2000's, inflation began to spin out of control in Zimbabwe, causing the country to issue larger and larger bank notes, culminating the trillion dollar notes minted in 2008. According to the Cato Journal, inflation reached an estimated peak of 6.5 sextillion percent in mid-November 2008, representing a complete and utter collapse of the Zimbabwe Dollar. Zimbabwe officially abandoned their currency in early 2009 and to date, does not have an official currency. However, in 2008, millions of ten, fifty and one hundred trillion dollars notes were printed. Though these notes have no currency value today, they do remain collectible and have been able to maintain higher prices than when originally minted in 2008. All Zimbabwe notes sold by the Great American Coin Company consist of uncirculated AA Series notes dated 2008.Learn more about the history of Zimbabwe currency.

buy one hundred trillion dollars zimbabwe

The Zimbabwean dollar was introduced in 1980 to directly replace the Rhodesian dollar (which had been introduced in 1970) at par (1:1), at a similar value to the US dollar. In the 20th century the dollar functioned as a normal currency, but in the early 21st century hyperinflation in Zimbabwe reduced the Zimbabwean dollar to one of the lowest valued currency units in the world. It was redenominated three times (in 2006, 2008 and 2009), with denominations up to a $100 trillion banknote issued.[3] The final redenomination produced the "fourth dollar" (ZWL), which was worth 1025 ZWD (first dollars).

In October 2005, the current Governor of the Reserve Bank of Zimbabwe at the time, Dr. Gideon Gono, announced that Zimbabwe would have a new currency the following year, and new banknotes and coins would be produced.[citation needed] However, in June 2006, it was decreed that, for a new currency to be viable, Zimbabwe had to first achieve macro-economic stability. Instead, in August 2006, the first dollar was redenominated to the second dollar at the rate of 1000 first dollars to 1 second dollar (1000:1). At the same time, the currency was devalued against the US dollar, from 101000 first dollars (101 once revalued) to 250 second dollars, a decrease of about 60% (see exchange rate history table below).[citation needed] ISO originally assigned a new currency code of ZWN to this redenominated currency, but the Reserve Bank of Zimbabwe could not deal with a currency change, so the currency code remained 'ZWD'.[14] The revaluation campaign, which Gideon Gono named "Operation Sunrise", was completed on 21 August 2006. It was estimated that some ten trillion old Zimbabwe dollars (22% of the money supply) were not redeemed during this period.[15]

On 30 July 2008, the dollar was redenominated and given a new currency code of ZWR.[22] After 1 August 2008, 10 billion ZWN were worth 1 ZWR.[22] Coins valued at Z$5, Z$10 and Z$25 and banknotes worth Z$5, Z$10, Z$20, Z$100, and Z$500 were issued in ZWR.[23] Due to frequent cash shortages and the apparently worthless Zimbabwean dollar, foreign currency was effectively legalised as a de facto currency on 13 September 2008 via a special program. This program officially allowed a number of retailers to accept foreign money.[24] This reflected the reality of the dollarisation of the economy, with many shop keepers refusing to accept Zimbabwe dollars and requesting US dollars or South African rand instead.[25][26] Despite redenomination, the RBZ was forced to print banknotes of ever higher values to keep up with surging inflation, with ten zeros reappearing by the end of 2008. While worthless at the time,[27] these 100 trillion dollar notes subsequently became popular with collectors.[28]

On 2 February 2009, a third redenomination took place, in which the RBZ removed 12 zeros from the currency, with 1,000,000,000,000 (third, ZWR) Zimbabwe dollars being exchanged for 1 new (fourth, ZWL) dollar.[29] Therefore, the fourth dollar (ZWL) is equivalent to 10,000,000,000,000,000,000,000,000, or 11025 or 10 septillion first dollars (ZWD) (or 1 trillion third dollars). Although the dollar was abandoned on 12 April 2009, exchange rates were maintained at intervals for some months.

What really stands out here on eBay is the Zimbabwean one hundred trillion note. This note has the most zeroes of any legal tender in recorded history. The main design of this banknote is of three balancing rocks which could be symbolic of the teetering economy that has plagued Zimbabwe over the decades.

By the time Trish graduated, the economy of Zimbabwe had officially entered a "hyperinflationary era," a phenomena economists define as a period during which monthly inflation rates exceed 50%. Inflation was so out of control that in 2009 the Zimbabwe government issued a one hundred trillion dollar note, one of the largest denominations of currency in world history. The National Numismatic Collection recently acquired a Zimbabwean one hundred trillion dollar note, which is on display in the New Acquisitions section of The Value of Money. While this modern object from Africa may seem out of place in the National Museum of American History, this banknote helps to tell a global story of hyperinflation that is connected to objects in the National Numismatic Collection from around the world and dating back to the 18th century.

SCOTT SIMON, host: ..TEXT: This is how grave the economic crisis in Zimbabwe has become. Banknotes issued just a few months ago are not enough to buy even a single sheet of toilet tissue. And this week, the Mail & Guardian newspaper of South Africa reported that, in any case, there is no toilet tissue to be found in the stores of Zimbabwe. The Zimbabwean 50-billion-dollar note is worth just 33 U.S. cents. By the time you hear this, possibly even less than that. ..TEXT: The financial throes of Zimbabwe are so severe that officials have had to find new language to express it. This week, the Harare Herald advertised the Lotto bonanza prize being offered was 1.2 quadrillion Zimbabwean dollars. Now, quadrillion is what comes after a trillion, and 1.2 quadrillion Zimbabwean dollars are worth about 4,000 U.S. dollars. [POST-BROADCAST CORRECTION: If 50 billion Zimbabwe dollars are worth 33 U.S. cents, then 1.2 quadrillion Zimbabwean dollars would be worth $8000.]

HARARE, Zimbabwe - Zimbabwe's central bank says banknotes from its old currency, which collapsed and was discarded years ago because of runaway inflation, can be exchanged for American dollars. But 100 trillion Zimbabwean dollars will fetch only 40 U.S. cents.

To deal with hyperinflation that reached the ludicrous level of 231 million % and saw the price for a loaf of bread hit 300 billion Zimbabwean dollars, Zimbabwe's newly formed unity government — including bitter opponents President Robert Mugabe and Prime Minister Morgan Tsvangirai — issued a $100 trillion note in early January. (One hundred trillion, by the way, is a 1 with 14 zeroes — making the note the highest denomination in the world.)Just weeks later, however, the leaders decided to back-burner the hugely devalued Zimbabwean dollar and began allowing people to do business in other currencies. The move managed to curb inflation for several months until a small uptick in July. One hopes some of those $100 trillion notes didn't get spent all in one place.

I am the proud owner of Zimbabwe currency of 100 Trillion Zimbabwe dollars, actually that does make me a trillionaire, but I just wish they were US dollars instead. I love currency collecting and today exchanged a novel 100 trillion dollar currency note and its actually the highest value currency note ever produced for legal tender anywhere in the world. Its not fake and is a true collectible for currency collectors, but its not as valuable as you would expect.

Zimbabwe uses the United States dollar and the South African rand. The local currency the Zimbabwean Dollar was taken out of circulation in 2008 when inflation made even a one hundred trillion dollar note worthless. 041b061a72


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