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Zimbabwe $50,000,000 2008


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Zimbabwe is in a period of hyperinflation. At the time of independence in 1980, one Zimbabwean dollar was worth US$1.50. Since then, rampant inflation and the collapse of the economy have severely devalued the currency.

 

In the August 2006 currency reform, 1 new Dollar was exchanged for 1,000 old Dollars. The highest denomination was then 1000 new Dollars.

 

Due to continued runaway inflation, the Reserve Bank of Zimbabwe released three high denomination bearer checks into circulation in December, 2007: 250,000 Dollars, 500,000 Dollars and 750,000 Dollars. Within a month, the bank released three more even higher denomination bearer checks: 1,000,000 Dollars, 5,000,000 Dollars and 10,000,000 Dollars. On April 4, 2008, the bank issued 25,000,000 Dollar and 50,000,000 Dollar bearer checks.

 

This $50-million bill is worth just $1 US in trading on Zimbabwe's widely used black market. That means it can buy just three loaves of bread.

 

Tom Chao's Paper Money Gallery

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