Zimbabwe: Hyperinflation Money Set Of Three Banknotes (Billfold)

Three times in three years, the Central Bank of Zimbabwe de-denominated the Zimbabwean dollar. In 2006, the bank printed new currency, slashing three zeroes from the notes—so one new dollar was the same as one thousand old dollars. This reform was short-lived, as the hyperinflation continued. Two years later, the currency was reset again. This time, 10 zeroes were removed—one new dollar was worth 10 billion 2006 dollars.–But 2008 was the worst year for hyperinflation. In November of that year, the inflation rate stood at a staggering 79,600,000,000%. Prices doubled every 24 hours. The exchange rate in the fall of 2008 was $1 US to $2,621,984,229 Zimbabwe—although few Americans were looking to convert their dollars to Zimbabwe’s unsteady notes. It was like a calculator gone haywire.–In 2009, the government once again intervened, redenominating the currency a third time. The so-called ”fourth Zimbabwean dollar“ slashed 12 zeroes. A 2009 dollar was worth 1 trillion 2008 dollars, 10 sextillion 2006 dollars, and 10 septillion original dollars—10 to the 25th power. With no other recourse, Zimbabwe abandoned its own currency later that year. A combination of U.S. dollars, Euros, and South African rand are used instead.–Certificate of Authenticity–This is a genuine uncirculated banknote issued by the Central Bank of Zimbabwe during the hyperinflation crisis of the 21st century’s first decade: the one, five, and ten billion dollar bills.