| Submit your comments on this article |
| Africa Subsaharan |
| Zimbabwe: 10-Million-Dollar Bill |
| 2008-01-18 |
| Zimbabweans will be soon lining their pockets with 10-million-dollar bills. The central bank annouced Thursday it would increase the denomination of the nation's highest bank note more than tenfold to keep pace with the world's highest inflation rate, officially estimated at 25,000 percent annually. Independent financial institutions say real inflation is closer to 150,000 percent. The new 10-million note is the equivalent of about $4 at the dominant black market exchange rate. In an effort to end chronic cash shortages and long, chaotic lines at banks and automated teller machines, the bank will issue the new notes on Friday along with 1-million and 5-million dollar bills, said Reserve Bank Governor Gideon Gono. The highest existing note, introduced last month, is 750,000 Zimbabwe dollars. A hamburger at an ordinary cafe costs about 15 million Zimbabwe dollars ($6). But that price has trebled this month amid shortages of bread, meat and most other basic goods. Acknowledging the inflation crisis, Gono said individuals from Friday would be allowed to withdraw an increased limit of 500 million Zimbabwe dollars ($200) in a single day, up from 50 million. |
| Posted by:Fred |
| #11 Do you suppose there actually are any Zim ATM machines operating as mentioned in the article. Inquiring minds want to know. |
| Posted by: Sid 6.7 2008-01-18 23:44 |
| #10 Wonder who is on the picture, maybe some famous mathematician, like Fibbonaci, or Pythagorus? Or Ponzi? |
| Posted by: Frank G 2008-01-18 22:11 |
| #9 10 Megabuck ZimBob Bill. Wow! Wonder who is on the picture, maybe some famous mathematician, like Fibbonaci, or Pythagorus? I also wonder if the NORKS are going to cash in on counterfitting this one. The sky is the limit, ya know. They could make good money selling them as collector's items, claiming that they were the real ZimBob thing. |
| Posted by: Alaska Paul 2008-01-18 21:14 |
| #8 Deal Barbara, now let's see if I get any offers. |
| Posted by: Redneck Jim 2008-01-18 18:22 |
| #7 RJ - send 'em $20 for 2 and I'll buy one from you. (Also no joke.) I'll even pay you more than $10 so you make a profit. Talk about an unusual souvenir! (The best part is we don't have to go there to get the souvenir.) |
| Posted by: Barbara Skolaut 2008-01-18 18:16 |
| #6 This forum is read worldwide, I offer ten dollars american for a ten million zimbabwe bill, a straight swap, you send me the Zimbob bill and I send you an american ten, (Or 2 fives, or ten ones, however you want it) Jim David jdavid1258@peoplepc.com No JOKE |
| Posted by: Redneck Jim 2008-01-18 18:03 |
| #5 See! Just print more money! It's so friggin simple! |
| Posted by: tu3031 2008-01-18 14:22 |
| #4 RJ: I remember reading a loaf of bread was a million, so that works out to about ten bucks, I can afford that. Yeah, but that was yesterday. |
| Posted by: gorb 2008-01-18 14:20 |
| #3 Socialism works! |
| Posted by: anonymous5089 2008-01-18 14:06 |
| #2 I'd like to get one and hang it on the wall in a picture frame. I remember reading a loaf of bread was a million, so that works out to about ten bucks, I can afford that. |
| Posted by: Redneck Jim 2008-01-18 13:53 |
| #1 "Who does not want to be a millionaire?" I do! |
| Posted by: Spike Uniter 2008-01-18 02:23 |