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Re: $100 Trillion Zimbabwe Dollar Note

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Posted by Michael Schmidt on May 26, 2009 at 17:56:34:

In Reply to: $100 Trillion Zimbabwe Dollar Note posted by Richard Surratt Jr on May 13, 2009 at 02:24:14:

: I recently purchased a $100 Trillion Zimbabwe Dollar note and i was curious to see what it's worth is USD?

That is a very difficult question to answer without knowing exactly when the note was issue and the revaluation record from Zimbabwe. You see at least five times in the past year they have chopped 10 zeros off their currency and started over again at one. So if this was from the previous series (The current one was revalued in Feb 2009 and the current series hasn't reached 100 trillion yet.) it would be worth 363 dollars US at the "official" exchange rate. (Probably much less at the real exchange rate.) If it was from the series before that it is worth 4 ten millionths of a cent.

The inflation rate in Zimbabwe is running at over
1,000,000,000,000,000,000,000 percent PER MONTH. Prices are doubling every 24 hours. (The Zimbabwe government says the inflation rate is nowhere near that high. They claim only a quarter million percent per month. Even at that rate something that cost one cent on Jan 1st would cost $60,000,000,000,000,000,000,000,000,000,000,000,000 dollars on Dec 31st. Or about 600 trillion trillion of those 100 trillion dollar notes.

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: : I recently purchased a $100 Trillion Zimbabwe Dollar note and i was curious to see what it's worth is USD? 

: That is a very difficult question to answer without knowing exactly when the note was issue and the revaluation record from Zimbabwe.  You see at least five times in the past year they have chopped 10 zeros off their currency and started over again at one.  So if this was from the previous series (The current one was revalued in Feb 2009 and the current series hasn't reached 100 trillion yet.) it would be worth 363 dollars US at the "official" exchange rate.  (Probably much less at the real exchange rate.)  If it was from the series before that it is worth 4 ten millionths of a cent.

: The inflation rate in Zimbabwe is running at over 
: 1,000,000,000,000,000,000,000 percent PER MONTH.  Prices are doubling every 24 hours.  (The Zimbabwe government says the inflation rate is nowhere near that high.  They claim only a quarter million percent per month. Even at that rate something that cost one cent on Jan 1st would cost $60,000,000,000,000,000,000,000,000,000,000,000,000 dollars on Dec 31st.  Or about 600 trillion trillion of those 100 trillion dollar notes.



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