Zimbabwe unveils 200,000 dollar note

weresteve

New note still sour

The central bank of Zimbabwe unveiled a new 200,000 dollar note Tuesday, double the face value of what had been the highest denomination bill in a country where the inflation rate is 4,500 percent.

The Reserve Bank said the new 200,000 Zimbabwe dollar bill was for “convenience” in business and individual transactions.

The bill is worth $13 at the official exchange rate or $1 at the dominant black market rate. With five bills a Zimbabwean millionaire can buy a handful of scarce food items.

WillieBoyd2

I always wanted to be a millionaire.

pendragon1998

Once the currency gets that out of control, it's only a matter of time until the whole system just up and dies.

satootoko

Well, still a way to go if they are looking for the world record.

If memory serves German pre-WW II denominations crossed the billion mark mark.

CaptainCal

Didn't some country just take off 3 zeros from their dollars, from 200,000 to 200 just so it didn't look as bad? I seem to remember that happening a few years back.

satootoko

Mexico did that in 1992.

In 2005 Turkey took 5 zeros off its currency, and the 10-million lira coins became worth only 100 new lira!

dorancoins

<< <i>Once the currency gets that out of control, it's only a matter of time until the whole system just up and dies. >>



In Zimbabwe's case, it won't be much longer. There is hardly any jobs and everyone there are starving. And the senile leader of that country is in a state of denial. He'll be gone soon.