Archive for the ‘African Economies’ Category

Trillion Dollars? Try Zimbabwe Bank

Friday, January 16th, 2009

Just off the press today, is the sadder news of the hyperinflation plaguing Zimbabwe. The Reserve Bank of Zimbabwe (RBZ) has introduced a new family of trillion Zim-dollar banknotes in denominations of 100 trillion, 50 trillion, 20 trillion and 10 trillion that go into circulation on Friday, starting with the 10 trillion notes,  its is reported.

The 20 trillion, 50 trillion and 100 trillion notes will be introduced gradually. In a statement on Thursday, the Reserve Bank of Zimbabwe said the notes will ensure that those in formal employment withdraw their salaries with minimal hassle.

“In a move meant to ensure that the public has access to their money from banks, the Reserve Bank of Zimbabwe has introduced a new family of banknotes which will gradually come into circulation, starting with the 10 trillion,” read the statement from the RBZ.

This is rather sad. But for those who like to keep rarities, a clamour to get a hold of a Trillion Dollars will be interesting, as something show the generations to come.