What is the biggest note had you see before? hundred thoursand (100,000)? Million (1,000,000)?
The central bank of Republic of Zimbabwe (a landlocked country located in the southern part of the continent of Africa, between the Zambezi and Limpopo rivers) has just announce that they will roll out the lastest note in their country, the value of the biggest note of their currency will be 100 trillion (100,000,000,000,000). Other then that will be 10 trillion (10,000,000,000,000), 20 trillion (20,000,000,000,000), and 50 trillion (50,000,000,000,000).
This is the world biggest value note. This is due to their super high inflation rate which recorded as 231,000,000% (base on the first half year 2008 finacial report)
Below is a brief history of the exchange rate comparing $1 USD to the Zimbabwean Dollar.
1983 – 1 USD = 1 ZWD
1997 – 1 USD = 10 ZWD
2000 – 1 USD = 1000 ZWD
2005 – 1 USD = 10,000 ZWD
2006 (January) 1 USD = 100,000 ZWD
2006 (July) 1 USD = 500,000 ZWD
Time for a new currency! Zimbabwe comes out with the “second dollar”
2006 (August) 1 USD = 650 ZWD
2007 (January) 1 USD = 4,800 ZWD
And here is where it just goes thru the roof…
2008 (January) 1 USD = 6,000,000 ZWD
2008 (March) 1 USD = 70,000,000 ZWD
2007 (May) 1 USD = 777,500,000 ZWD
2008 (June) 1 USD = 40,928,000,000 ZWD (Yes, that is 40.9 Billion)
2008 (July) 1 USD = 724,346,000,000 ZWD (Yes, that is 724 Billion)
Click here to view Zimbabwe on Wikipedia
