Property News · May 14, 2016

Zimbabwe’s trillion-dollar note: from worthless paper to hot investment


The central bank of Zimbabwe issued $100,000,000,000,000 notes during the last days of hyperinflation in 2009, and they barely paid for a loaf of bread. But their value has shot upWhat’s been one of the best-performing investments of the past seven years? Shares in Facebook? London property? Bitcoin? Up there with the best, believe it or not, are Zimbabwean 100 trillion dollar notes.A trillion, by the way, is a million million. There are 12 zeros in a trillion. Add another two to reach the total on the Zimbabwean 100 trillion dollar bill, the note with the most zeroes of any legal tender in all recorded history. The bills circulated for a few months in 2009 at the zenith – or, more precisely, the nadir – of one of the most terrible instances of hyperinflation in history, before Harare finally abandoned the Zimbabwean dollar in favour of the South African rand, the US dollar and several other foreign currencies. Continue reading…

Source : theguardian.com
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