Zimbabwe’s 100-Trillion-Dollar Note Gains in Value (2024)

FAQs

How much is 100 trillion Zimbabwe dollars worth in US money? ›

But 100 trillion Zimbabwean dollars will fetch only 40 U.S. cents. That's a fraction of what collectors have been paying for the notes with numerous zeroes for years. Zimbabwe in 2009 abandoned its currency for a system dominated by the U.S dollar and the South African rand after inflation hit 230 million percent.

It was issued in Zimbabwe in 2008 during a period of hyperinflation, when the prices of goods rose rapidly and the government printed money in increasingly larger denominations to match market prices. The banknote's design has been used in Zimbabwe for decades and was printed on the two dollar note in 1983.

Consequently tax revenues fell dramatically, and with government expenditures increasing (again to appease political allies) the government, via its control of the Reserve Bank of Zimbabwe (and therefore political control of money creation) was forced to turn to the printing of money to fill the gap.

Bond notes refer to the currency which was launched in 2019 after a decade of Zimbabwe using the U.S. dollar and other currencies. The bond note had lost about 80% of its value and was trading at around 40,000 to the dollar before its official demise.

1 ZWL = 0.003106 USD Jun 05, 2024 04:01 UTC

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The note, along with previous hyper-inflated denominations including Z$10,000,000,000,000 (ten trillion) and Z$1,000,000,000,000 (one trillion), could be exchanged for U.S. dollars until the end of April 2016, but it was worth only about $0.40.

As of today, according to xe.com, you would get $2,763,194 USD for your billion Zimbabwe dollars. Go to the nearest bank to discuss this, They should be able to tell you where And how you could change that money.

Traders were increasingly rejecting lower denominations of the now scrapped currency, with many insisting on payment only in U.S. dollars, which are also legal tender in the southern African country.

Hyperinflation is defined as a monthly inflation rate greater than 50%. Zimbabwe experienced a decade-long period of hyperinflation due to poor monetary policy strategies. Hyperinflation increases the price level of goods, reduces incentives the save, and decreases confidence in government.

Why is Zimbabwe money so high? ›

In 2008, the inflation rate accelerated dramatically, from a rate in January of over 100,000% to an estimated rate of over 1,000,000% by May, and nearly 250,000,000% in July. As predicted by the quantity theory of money, this hyperinflation was linked to the Reserve Bank of Zimbabwe increasing the money supply.

Persistent inflation, high dependence on low-productivity agriculture, slow structural transformation, and intermittent shocks like drought, natural disasters, and the COVID-19 pandemic have contributed to the high rate of poverty and vulnerability in Zimbabwe.

$100 Trillion Zimbabwean (ZWL) dollars is worth somewhere between 10 billion and 17 USD as of today (12 Dec 2023) depending on the valuation method ie official bank rate, or unofficial (black market) rate.

Thanks to massive inflation, a trillion Zimbabwe dollars will barely buy you a Hershey's Kiss. It's not even worth a penny. As of Monday, the government is officially phasing out the country's entire currency and Zimbabweans will start exchanging “quadrillions” of local dollars for US dollars.

Zimbabweans have 21 days to exchange old, inflation-hit notes for the new currency. However, the US dollar, which accounts for 85% of transactions, will remain legal tender and most people are likely to continue to prefer this. The new ZiG banknotes come in denominations of between 1 and 200.

100 trillion is equivalent to 100,000,000,000,000. Therefore, there are 14 zeroes in 100 trillion.