From banknotes designed for a concentration camp to Zimbabwe's $100 trillion banknotes, check out the world's strangest banknotes:

1. Banknote for 500,000,000,000,000,000,000 (Yugoslavia)

The former European country of Yugoslavia suffered a startling hyperinflation that began in 1989 and lasted until the start of economic reforms in 1994. In 1988, the largest banknote was a denomination of 50,000 dinars, but everything changed by 1994, when the largest banknote was a denomination of 500,000,000,000,000,000,000 dinars!

2. Banknotes of the concentration camp (Czechoslovakia)


These banknotes were created by the Nazis for the Theresienstadt concentration camp in Czechoslovakia. The camp served as an exhibit for the Nazis, who used it to demonstrate to the Red Cross and other institutions how well they treated Jewish prisoners, providing them with cultural activities and schools for their children. In fact, more than 30,000 people died in Theresienstadt and almost 90,000 were sent from there to the death camps further east. These notes, in denominations of 10 and 20 crowns, were part of a propaganda ploy presented to the Red Cross. They were just papers of no value that were never used.

3. One hundred trillion dollars (Zimbabwe)


The Reserve Bank of Zimbabwe began printing these $100 trillion notes in January 2009. This amount is approximately $300. At that time, this country had the highest inflation rate in the world, and the value of the banknote in the photo above was about 300 US dollars. In July 2008, inflation reached an astonishing 231,000,000 percent! One loaf of bread cost an estimated 300 billion Zimbabwean dollars. By April 2009, the Zimbabwean dollar was out of circulation, but you can still get a copy of the banknote online.

4. 1 quadrillion pengo (Hungary)


The pengő, the currency of Hungary before World War II, suffered from the highest level of hyperinflation ever. In 1946, Hungary issued a 1 quadrillion pengő note. Yes, yes: 1,000,000,000,000,000 pengyō. Its value was about 20 US cents! In the last tax period, prices doubled every fifteen hours, so in July 1946 the country changed its currency to the forint, which is still the official currency. A Hungarian bank even printed notes in denominations of 1 sextillion pengo, but never released them.

5. The oldest banknote in the world: 1380 (China)

The earliest record of the use of paper money in China dates back to 800 AD, although the Chinese abandoned paper money in the mid-fifteenth century. This banknote of the Chinese kuan is the oldest known banknote in the world, dating back to around 1380.

6. Notgeld (Germany)


After the end of World War I, emergency money was printed very frequently in Germany and Austria. Some of them were rather strange, but perhaps the strangest of them was a banknote, which depicted a donkey urinating.

7. The largest banknote in the world (Philippines)


The world's largest banknote is the 100,000 peso note, a 33x40.7 centimeter sheet printed by the Philippine government in 1998 to celebrate the centenary of independence from Spanish rule. The banknote was offered only to collectors who bought one of the limited edition for 180,000 pesos (approximately US$3,700).

8. Banknote with Einstein (Israel)


In 1952, Israel's first prime minister, David Ben-Gurion, offered the physicist Albert Einstein the nominal presidency of Israel. Einstein turned down the offer, but Israel decided to honor the physicist anyway. So when the Bank of Israel issued their first currency, the lira, they printed a portrait of Einstein on their 1968 5-lira note.

9. Banknotes with a punched image of Mobutu (Zaire)


In 1997, the African country of Zaire, now known as the Democratic Republic of the Congo, overthrew the totalitarian regime of Joseph Mobutu. When the new government found themselves short of funds, they decided to use their large stocks of old 20,000 zaire notes by simply punching Mobutu's images into them. Punched banknotes were in use until a new currency was designed and printed.

The Republic of Zimbabwe, formerly known as Southern Rhodesia and once one of the richest countries in Africa, fell into complete political and economic collapse during the tyranny of Robert Mugabe. He clung to power so much that, despite the defeat in the elections in March 2008 and the intensification of the political and economic crisis, he is still the president of the country.

Despite the government's "inflation-restricting" approach (which is almost as effective as outlawed sea tides), prices are out of control. Inflation is estimated to have reached 231 million percent a year in 2008, the highest in world history. Instead of trying to fix the problem, the government just kept printing money. There was an acute shortage of everything in the country, with the exception of freshly printed banknotes.

Finally, there have been three major reassessments in Zimbabwe. Inflation has been halted, however, the government has not yet allowed the use of another currency. At the beginning of 2009, the national currency practically ceased to circulate in Zimbabwe, the citizens of the country no longer trusted it. The money was changed to South African Botswana rand and US dollars. Although the currency used is foreign, it is a stable medium of exchange. Goods on the market became available again and prices stabilized.

Hyperinflation in Zimbabwe led to a large denomination and the appearance of a banknote in denominations of 100 trillion dollars (i.e., 100,000,000,000,000 dollars). Such a bill was necessary to pay the army and civil servants. By that time, they were the only people with money.

100 trillion dollars is the largest banknote in the world that has ever existed. The purchasing power of the banknote is about 36 US dollars, although its value has fallen to almost zero. The bonds were only used for a short time. On February 2, 2009, Zimbabwe made a $1 trillion revaluation and the bonds were replaced. At the same time, Zimbabwean citizens were allowed to use foreign currencies, and the Zimbabwean dollar was removed from most transactions.

The banknote features balancing rocks in the foreground, two vignettes on the sides, and the inscription "Reserve Bank of Zimbabwe" at the top framed by the banknote's denomination numerals.

Banknote "Million dollars!"

The banknote looks like 1 million United States dollars, but unfortunately, it is not real. However, the banknote will bring great pleasure to those who receive it as a gift. The person who gives this banknote says: "The first million dollars is the most difficult." And after you get it, you can feel like a millionaire.

The banknote was issued in three different styles: in the traditional style it looks like $1, in the new style it looks like the new $5, $10, $20, $50 and $100. On the reverse side of the banknote, Santa Claus is depicted, which is ideal for New Year's gifts.

Zimbabwe - one of the poorest countries in Africa - is among the poorest countries in the world. Why is this happening? Back in 2000, the crisis began in Zimbabwe, and to this day, inflation continues to grow rapidly. The financial crisis began after President Mugabe took away land from "white" people and gave it to "blacks".

The agricultural sector of the economy was the first to collapse; the former colonialists imposed their sanctions, which played against the country, and from that moment inflation began.
In 2018, unemployment was 80%, one third of the population left their homeland. In addition, the crisis in Zimbabwe has been so devastating that not only the economy but also people are dying. 25%, or one in four Zimbabweans, are infected with the AIDS virus, and the state cannot do anything about it, since medicine is also suffering.

Now about the local currency, which is practically out of order - the Zimbabwean dollar. There are a lot of them in the country and they mean practically nothing. In 2006, 1 plain dollar was worth 1,000 Zimbabwean dollars, what is the Zimbabwean dollar exchange rate today? And today, billions of Zimbabwean dollars are just one US dollar.

And now I beg your attention!

The beggar boy received 200,000 Zimbabwe dollar bills, but in fact, this is a trifle at this exchange rate.

And this is a new bill of 500 thousand Zimbabwe dollars.

And this is what a banknote of 750 thousand Zimbabwe dollars looks like.

And now a bill of 10 million dollars. Impressive, isn't it? You have a millionaire.

That $10 is worth more than Zimbabwe's $10 million.

This is how people walk around with large bundles of Zimbabwean dollars. It doesn’t seem like a lot of money, but I think it’s not very convenient ...

And here we have a local billionaire: there are 65 billion dollars in this suitcase, or 2,000 US dollars.

A man goes to the store with a wad of dollars like this. Inflation is growing every month.

This bundle of local currency here costs only $100.

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New 50 million Zimbabwe dollar banknote.

Just a month later, a new bill of 250 million dollars was issued.

These are store prices. Interested in purchasing a $3 billion Zimbabwe T-shirt?

This bill appeared a couple of weeks later - $ 500 million.

The following month, two large denominations of 25 and 50 billion Zimbabwean dollars were issued at once.

And this banknote shows 100 billion dollars.

What can you buy with $100 billion? For example, 3 eggs.

With such a stack of money, they go to a restaurant.

This is the crisis in Zimbabwe. And now a small pattern: toilet paper there costs 100 thousand dollars, if you change them for the smallest money, for example, 5 dollars, you get 20 thousand bills. There are 72 such bills on an average roll of toilet paper. Thus, it is about 277 times more profitable to use money instead of toilet paper!

An unforeseen fate overtook the Zimbabwean dollar. A banknote with a fantastic face value of 50 trillion did not enrich the owner, but ended up in a souvenir shop. Where, however, is also sold for a penny. The seller of such a bill is lucky, if only because he has a job that brings more income than 30 US cents.

Zimbabwean workers cannot boast of higher earnings. Unemployment, depreciated banknotes and bananas are the main milestones that accompany the Republic of Zimbabwe.

The crisis, according to official data, has worsened since 2000. But African countries have never been among the developed countries, despite attempts at cultural, economic and political reform. According to the IMF forecasts, announced in April 2018, the next five years, the African economy will not see positive changes. But investment cooperation with Russia could stabilize the economic situation in the Republic.

Who needs freedom

History shows examples of the heroic and selfless struggle for the independence of the state. The people of each country seeks to prove their right to exist, achieving the goal by unjustified sacrifices. In contrast to the happy moments of victory, the opposite effect arises - what they fought for, then, according to the saying, it came by itself, and caused harm.

Zimbabwe was not ready for independence. Neither culturally nor economically. The independence of Zimbabwe, proclaimed on April 18, 1980, was followed by anarchy, bloodshed and poverty. Part of the reason for the dramatic events was the government of Robert Mugabe. His chaotic decisions, rigged elections, Operation Gukurahundi (which to this day is regarded as an act of genocide) finally cut off Zimbabwe from civilized countries.

The economic catastrophe that came as a result of Mugabe's unsuccessful reforms was aggravated by EU and US sanctions - the president is forbidden to enter Europe. The situation in the Republic became for the countries of Europe nothing more than a spectacle in which no one wanted to interfere.

If "Gukurahundi" exterminated civilians in Zimbabwe in 1982-1987, then 2000-2005. were marked by no less bloody land reforms. The agricultural sector, which lost control, collapsed during the "black redistribution". It is followed by related industries.

And when Mugabe introduced a law requiring foreign enterprises to be under the control of Zimbabwean citizens, investors forever forgot the way there, despite the potential deposits of precious metals and minerals.

Inflation raged. There is no country on the globe that has experienced such an economic collapse and inflation of this magnitude.

The money of Zimbabwe has a special history, since until recently the national currency was used here, but due to the phenomenally high depreciation, it had to be abandoned. Today, the US dollar is the official currency in the country.

Short story

The emergence of the national currency in the country is associated with its independence from the UK. It happened in 1980, it became one of the last countries in Africa to gain sovereignty.

It was then that the history of the national money of Zimbabwe began. Initially, the first coins were minted, issued back in 1980. Then, the following year, the first banknotes appeared.

However, the Zimbabwean dollar did not last long. Already in 2009, the state had to abandon the use of national money. The government abandoned them in favor of the American dollar.

Description

The money of Zimbabwe had an international designation consisting of the letter code ZWL. The currency symbol was a sign identical to the American dollar, but the letter Z (Z $) was added in front of it.

One Zimbabwe dollar was made up of 100 cents. The history of this currency is quite interesting because it is unprecedented. By the time it was withdrawn from circulation, it was the cheapest monetary unit in the world.

denominations

It is worth noting that during the existence of this currency there were several versions of the dollar of this country.

The "first dollar" (ZWD) lasted the longest: from the moment the country was liberated until 2006, when it was replaced by the "second dollar" (ZWN). The second option did not last long and in 2008 was replaced by the "third" (ZWR) at the rate of 1 to 10,000,000,000.

The "third" option was used even less. Already in February 2009 in Zimbabwe, money at the rate of 1 to a trillion was re-denominated. However, regular denominations did not save the situation, and in April 2009 a ban was issued on the use of national money as a means of payment.

From that moment on, the US dollar, the British pound and the currencies of neighboring states began to be used in the country. Subsequently, the US dollar took the lead and continues to be used in the country as the main currency.

coins

Initially, metal coins were in circulation in denominations of one, five, ten, twenty and fifty cents, as well as one dollar each. In the early 2000s, two-dollar and five-dollar coins were added.

During the period of the second denomination, coins were in circulation in denominations of 10 and 25 dollars. The plans of the state included the introduction of coins worth 5 and 10 thousand dollars, but they were never minted.

Banknotes

From the moment the country was liberated, paper money of Zimbabwe began to be issued. Initially, denominations of one, five and ten dollars were put into circulation. After 2 years, another twenty-dollar bill was added to them.

In the nineties, 50 and 50 were also issued. In 2001, a denomination of 500 dollars was introduced, and in 2003 - 1000 Z$.

Due to the incredibly high rate of inflation in the country, there was a shortage of money supply, so the issuance of emergency checks began. Their face value was from 5 to 100 thousand Zimbabwe dollars. However, these and other measures aimed at saving the national currency did not have the desired effect, therefore, as a result, the currency ceased to exist.

Crisis in Zimbabwe

Such an unprecedentedly high inflation (hyperinflation) of money in Zimbabwe is primarily due to economic problems in the country. Despite the fact that it is considered a more economically developed region of this mainland, Zimbabwe lags far behind its territorial neighbors.

The country has few natural resources, no access to the sea. In addition, the country gained independence late. The inept management of the state by the leadership also played not in her favor. Together, all these factors led to the fact that the country began a long and rather severe economic crisis, which continues to this day.

Although there have been some positive developments in recent years, the impact of the economic crisis in Zimbabwe on the currency and its value has been very large.

Rate

The Central Bank of Russia, even during the period of use in the South African country ZWL, did not set the official exchange rate of the ruble to this monetary unit. There was simply no need for this, since the Russian Federation and Zimbabwe practically do not interact with each other. Trade and economic ties are poorly developed, and tourists from Russia rarely visit this state. In general, Russians know little about Zimbabwe. The money, exchange rate and history of the currency of this state are of little interest to our fellow citizens. Unfortunately it is so.

Various financial institutions set their own exchange rate for Zimbabwe's money against the ruble, but depending on the company, it could change significantly. Often several times a day.

As for the modern currency of this country, its exchange rate is not difficult to determine, since the American dollar is now used there. Therefore, Zimbabwe's money at the exchange rate against the ruble corresponds to the US dollar. According to 2017 data, for one USD you can get approximately 58-60 rubles.

If we compare the modern money of Zimbabwe at the rate of the US dollar, then it will be identical. Because it is the same currency no matter where it is used. In addition, the American dollar is now used as the official currency not only in the United States and Zimbabwe, but also in some other countries of the world, for example, in Ecuador.

Exchange operations

Today you can come to the country without worrying about how to exchange money for local ones, because you can just take US dollars with you. In addition, in the cities of Zimbabwe, you can easily exchange the currencies of neighboring countries, for example, as well as the pound sterling and the euro.

You can change money at the airport and major financial institutions. But it will be much easier to do it in Russia, since the commission will not be so high.

Previously, when the national money of Zimbabwe was used in the country, the situation with currency exchange was much worse. Especially when the situation with the depreciation of money worsened. The exchange rate could change several times a day.

In such a situation, not every financial institution was ready to work with currency exchange.

Cashless payments

The country is quite far behind in development from the advanced countries of the West, therefore the situation with cashless payments in Zimbabwe is far from the best. You can pay for a purchase or service using a bank plastic card only in large stores, hotels and restaurants.

Even in large cities, not everywhere there are cashless payment terminals, and in rural areas it is almost impossible to pay by bank transfer anywhere.

Using credit cards from foreign banks will be even more difficult, since they are almost not accepted anywhere. Therefore, going to this country, it is better to get enough cash in advance. There are not many bank branches in Zimbabwe where you can cash out your funds, and there are even fewer ATMs.

Fortunately, the American dollar is now used in the state. This has greatly reduced the financial hardship experienced by foreigners coming to this country.

In recent years, there have been some positive trends in this matter. More and more banks and ATMs, as well as exchange offices appear in the capital city of Harare. The authorities of the country and big business are now focused on the development of the tourism sector, where you can earn pretty good money.

The depreciation of money in Zimbabwe was so rapid that literally within one day the exchange rate could change several times. Prices for goods and services also rose several times a day. For example, in 2008, a can of beer was charged 100 billion Zimbabwean dollars, and after just one hour it could cost 150 billion.

It is also interesting that Gideon Gono, who then served as director of the country's Reserve Bank, received the Ig Nobel Prize (the opposite of the Nobel Prize), which is given for the most stupid, unnecessary and strange discoveries and achievements. It was awarded to him for the fact that, by means of rapid hyperinflation, he taught the entire population of the country mathematics, forcing them to learn how to count in the range from one to 100 trillion.

Situation today

Now it is difficult to understand what kind of money is in Zimbabwe, since several currencies are payment in the country at the same time. In 2016, the Reserve Bank limited the ability to withdraw cash in dollars, euros and South African rand, which are actively used in the country as means of payment.

The export of these currencies outside the country is also limited. The Bank seeks to expand the use of currencies other than the US dollar. The authorities obliged the population to hand over part of the proceeds not only in dollars, but also in euros and rands.

Also, the owners of trade organizations were obliged to indicate the cost of goods not only in dollars, but also in South African rands. Probably, the government of the country is striving to carry out financial reform. Perhaps the state will be adopted as the official currency of South Africa, which is already used in almost all South African states.

This would be the most optimal solution for Zimbabwe, since the country's most important trade and economic partner is South Africa, not the United States. Accordingly, the use of the currency of this country is more profitable and convenient than the American one.

It is not yet known how the country's authorities will act in the near future to solve the existing problems, but they will definitely not remain inactive, since this is fraught not only with a severe crisis, but with a real collapse of the country's economy. In no case should this be allowed, so it is urgent to look for a way out of this situation.

Conclusion

Zimbabwe is a country that is quite interesting in cultural, historical and natural terms, but too remote. Therefore, Russians rarely visit it. In addition, the lack of the sea and high service for recreation does not attract people.

Today, there is no growing interest in the development of the tourism industry in the country, so significant financial injections are directed here. Who knows, perhaps in the near future this country will become one of the most attractive for tourism in the South African region. The country has the necessary resources for this. It is great for eco- and ethno-tourism; here you can have a safari on the African savanna no worse than in Kenya or Tanzania.

Be that as it may, now the country is in a transitional period, when changes are taking place and will continue to take place in almost all spheres of the economy and life. The financial sector is one of the most problematic and important, so changes will be made in this area more than once.

Mikhail Karpov

The Zimbabwean dollar in 2009 suffered an unenviable fate - inflation is to blame. On the other hand, for example, in the United States, the printing of banknotes with a giant denomination was not at all due to inflation. How much and over what time period can the currency depreciate, and what was the point of the 100,000 US dollar bill?

Zimbabwe

In 2009, Zimbabwean Planning Minister Elton Mangoma announced that the Zimbabwean dollar would cease to exist. This currency has existed for almost thirty years. In 1980, it replaced the Rhodesian dollar and lasted without incident until October 2005.

Click on the image to open the full version

In 2005, one pound sterling was worth 1,000 Zimbabwean dollars, while the original value of one Zimbabwean dollar when the currency was introduced in 1981 was 1.47 US dollars. The situation does not seem to be fatal, but the Reserve Bank of Zimbabwe announced a redenomination, and in August 2006 a new dollar was issued, which cost 1000 old ones. But the trouble is the beginning.

The virtually unsecured new Zimbabwean dollar collapsed sharply. In September 2007, the official exchange rate of the national currency was 30 thousand to one US dollar, although on the black market for the US dollar they gave as much as 600 thousand. The matter did not end there. By 2008, the Bank of Zimbabwe was issuing one hundred trillion dollar notes.

How to deal with it? Of course, a new denomination. In August 2008, for ten billion dollars of the 2006 model, they gave one new one. It is not difficult to guess that the next denomination was just around the corner.

By the end of October 1945, the pengo depreciated to 8200, and by the end of the year - to 128 thousand per dollar.

Since January 1946, in order to stabilize the situation, the ersatz-currency unit “adopengyo” (that is, tax pengyo) was introduced.

This helped temporarily. Adopengyo initially began to grow against the dollar. After 3 months, at the end of March, the dollar was estimated at 1,750,000 pengyo, but at about 40,000 adopengyo, that is, adopengyo has approximately tripled since the beginning of the year.

However, in April there was a collapse of both currencies. By May 1, the dollar was worth 59 billion pengyō, or 94 million adopengyo.

Then everything was sad: pengyo fell rapidly. Units called “milpengyo” (million pengyo) were introduced, and then “bilpengyo” (trillion pengyo). With inflation around 400 percent a day, this was not surprising. The financial authorities of the country managed to issue a banknote with a face value of 100 million bilpengyo and were preparing to issue a billion bilpengyo (sextillion pengyo).

Then came the time of adopengyo, which, however, also terribly depreciated by that time. Since July 1946, adopengyo was withdrawn from banking circulation. As a result, the largest denomination was a banknote of 10 million adopengyo, that is, if converted at the rate of July 31, 1946, about 20 octillion pengyo. For it they gave 4.35 US cents.

Soon, inflation nevertheless managed to be stopped, and a new monetary unit, the forint, was put into circulation. It was exchanged at the rate of 400 octillion pengyo (or 200 million adopengyo) for one forint.

United States

The hundred dollar denomination was not always the maximum for the American currency. Although there are no million dollar bills, from 1879 to 1934 there were "green" larger denominations.

The $500 note featured President William McKinley. She survived several incarnations - her design changed from 1869 to 1934. In addition to McKinley, President John Quincy Adams and even Chief Justice of the United States John Marshall have appeared on the banknote at different times.

The $1,000 bill was issued in 1918 with a portrait of the first U.S. Secretary of the Treasury, Alex Hamilton, and in 1934, with a portrait of President Grover Cleveland.

The five thousandth bill also existed, and since 1878. All of her incarnations featured President James Madison.

The few owners of ten-thousandth bills, which were in circulation from 1900 to 1934, observed on it a portrait of the Chief Justice of the US Supreme Court Salmon Chase.

Although there has never been a million dollar bill, in 1934 a banknote with a face value of 100 thousand dollars was issued. No, this was not the result of terrible inflation - it was never issued to private individuals and served for monetary transactions between the Federal Reserve Banks.