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Count the zeroes: Zimbabwe allows old banknote exchange

Zimbabwe allows banknotes from bad old days of hyperinflation to be exchanged for US dollars

Count the zeroes: Zimbabwe allows old banknote exchange

HARARE, Zimbabwe (AP) -- Zimbabwe's central bank says banknotes from its old currency, which collapsed and was discarded years ago because of runaway inflation, can be exchanged for American dollars. But 100 trillion Zimbabwean dollars will fetch only 40 U.S. cents.

That's a fraction of what collectors have been paying for the notes with numerous zeroes for years.

Zimbabwe in 2009 abandoned its currency for a system dominated by the U.S dollar and the South African rand after inflation hit 230 million percent. Back then, even street hawkers refused to accept a $100 trillion dollar note that was issued.

Starting Monday, stacks of Zimbabwean bills that might still be kept by Zimbabweans can be exchanged for U.S dollars.


Updated : 2021-09-26 11:55 GMT+08:00