Zimbabwe issues a $10 million currency bill
by Chris V. Thangham.
The Central Bank of Zimbabwe issued a $10 million currency bill, the highest denomination of currency in the world. Although it seems like a lot on paper, it's actually less than $4 US. The current inflation rate in Zimbabwe is 50,000 per cent a year.
Zimbabwe’s problems continue to mount with a hyper inflation in their economy. To combat this, Zimbabwe’s central bank has
issued a $10 million Zimbabwe bill, which is worth only $4 US.
According to a
blogger, he said the bill is the same color, layout and design as the Z$20 bill he used to carry 15 months ago and it was worth US$0.025. Now it is worth five hundred millionths of a cent.
And also the currency has an expiration date as shown below in the previous Z$20 bill.
And this is how much currency a Zimbabwe resident needs to buy one beer:
In my opinion, without any other countries showing any interest in the economy in Zimbabwe, the situation will get only worse.
Zimbabwe issues a $10 million currency bill
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