Posted on 05/15/2008 11:41:50 AM PDT by NormsRevenge
HARARE (AFP) - Zimbabwe has introduced a new half-a-billion dollar bank note in a bid to tackle cash shortages fed by rampant inflation, the central bank said on Thursday.
"Introducing the new 500,000,000 bearer cheque for your convenience," read a Reserve Bank of Zimbabwe full-page advert in the state daily, The Herald, displaying specimens of the new note.
The note, comes into circulation 10 days after the introduction of a quarter-of-a-billion one early this month.
This is the fourth set of high denomination notes to be issued this year, the first being in January when a 10 million dollar note was put into circulation. The next was on April 2 when a 50 million dollar note came into being before the 100 and 250 million dollar notes were introduced on May 2.
The southern African nation, currently gripped by a post-election crisis, has been ravaged by hyperinflation which reached 165,000 percent in February. No latest inflation figures have been released since then.
The country's chronic economic crisis has condemned millions to grinding poverty with at least 80 percent of the population living below the poverty threshold amid mass shortages of basic goods in shops.
A Zimbabwean woman holding her toddler displays a fifty-million dollar note issued by the Reserve Bank in Harare, April 2008. Zimbabwe has introduced a new half-a-billion dollar bank note in a bid to tackle cash shortages fed by rampant inflation. (AFP/File/Alexander Joe)
“The southern African nation, currently gripped by a post-election crisis, has been ravaged by hyperinflation which reached 165,000 percent in February. No latest inflation figures have been released since then.”
Buy I bet their credit card statements are a shocker.
Where can I buy one?
Obamanomics??
They come free in you monthly bag of Rhesus Monkey Pieces. You can get a quart of gnu’s milk with 2 of them!
One Bullet...apologies to Jimmy Carter!
What are they complaining about? Everyone in the country is a billionaire! They should be taxed on all those windfall profits.
The Democrats want to target anyone earning over a million a year. This will enable them to raise taxes on the whole nation...
Wait long enough and they’ll be giving them away...
I’d hate to be a cashier if you had to make change in 1’s. That could take awhile.
How many does it take to insulate a house?
At the current exchange rate, it will cost you $16,666.20 U.S.
Still want one?
I just checked. As of today, the half billion dollar note is worth about $2 in American dollars.
Of course, with 165,000% inflation, they’ll be printing the billion dollar note shortly.
So, another quote “The 200,000 dollar bill, which Mr Gono said was being widely used on the black market, is worth about $6.66.”
I’m I calculating this right - that means the 500,000,000 Zimbabwe note is worth $1,665 or is it $16,650?
I think your math might be off. I just ran the conversion.
2.4442 US Dollars (USD) is equal to 500,000,000 Zimbabwean Dollars (ZWD)
From XE.com
2.4442 US Dollars (USD) is equal to 500,000,000 Zimbabwean Dollars (ZWD)
From XE.com, via Ask.com...
2.4442 US Dollars (USD) is equal to 500,000,000 Zimbabwean Dollars (ZWD)
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