Tuesday, August 16, 2022

The country that had a $100 billion bill of common use!

We’ve all dreamed of becoming a millionaire, but what happens when you have the prospect of 100 billion dollars In a single bill of common use?

This was the case of residents of Zimbabwe, who had a $100 billion bill as of 2015 that expired. lose all your worth As a result of an extensive inflationary process that led to its widespread use.

However, in the 1980s, the Zimbabwean dollar was worth more than the US dollar, which 68 cents Zimbabwe, the roles were reversed.

Over the years, the country’s poverty, corruption, and mismanagement of its rulers forced the Central Bank to issue large bills of 100, 200, 500 million, and later one thousand, 5 thousand and 10 billion, until It didn’t reach. 100 billion dollars.

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This is aimed at combating hyperinflation, which 20 years ago reached 800 percent of monthly inflation, so money was worth 8 times lessmonth by month.

For this reason, in June 2015 a swap process began to convert current accounts up to USD 175 thousand billion into a flat rate of five US dollars; And whose amount will increase till you get one dollar for every 35 thousand billion dollars.

However, due to their currency status, many Zimbabweans have already conducted most of their transactions. US Dollar or South African Rand for years.

Nation World News Desk
Nation World News Deskhttps://nationworldnews.com
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