₦airaland Forum

Zimbabweans will start exchanging 'quadrillions' of local dollars for a few US dollars next week, as President Robert Mugabe's government discards its virtually worthless national currency, the central bank said on Thursday.
The southern African country started using foreign currencies like the US dollar and South African rand in 2009 after the Zimbabwean dollar was ruined by hyper-inflation, which hit 500 billion percent in 2008.

At the height of Zimbabwe's economic crisis in 2008, Zimbabweans had to carry plastic bags bulging with bank notes to buy basic goods like bread and milk. Prices were rising at least twice a day.
From Monday, customers who held Zimbabwean dollar accounts before March 2009 can approach their banks to convert their Zimbabwean dollar balance into dollars, Reserve Bank of Zimbabwe (RBZ) Governor John Mangudya said in a statement.

The process will legally end the local currency. Zimbabweans have until September to turn in their old bank notes, which some people sell as souvenirs to tourists.
Bank accounts with balances of up to 175 quadrillion Zimbabwean dollars will be paid $5. Those with balances above 175 quadrillion dollars will be paid at an exchange rate of $1 to 35 quadrillion Zimbabwean dollars.

The highest - and last - bank note to be printed by the RBZ in 2008 was 100 trillion Zimbabwean dollars. It was not enough to ride a public bus to work for a week.
The RBZ said customers who still have stashes of old Zimbabwean dollar notes can walk into any bank and get $1 for every 250 trillion they hold.
That means a holder of a 100 trillion bank note will on Monday get 40 cents. The RBZ has set aside $20m to pay Zimbabwean dollar currency holders.

http://www.telegraph.co.uk/finance/11669652/Thatll-be-175-quadrillion-Zimbabwean-dollars-please.html

Ok

Wow!
Zimbabwean magic!

Anyway we are waiting Baba's =N= /$ Magic

I hope it won't turnout the Mugabe way since they both became heads of state at the same period ,hopefully the West German Dutchmark won't happen to the naira!

Tsamina mina, eh eh
Waka waka, eh eh
Tsamina mina zangalewa
This time for Africa

No be this kind "trillionaire" wey person de pray for

Bank accounts with balances of up to 175 quadrillion Zimbabwean dollars will be paid $5. Those with balances above 175 quadrillion dollars will be paid at an exchange rate of $1 to 35 quadrillion Zimbabwean dollars.

so u mean if i take 500 naira to mugabe's land i would be a trillionaire

Chei!!!... Blood of Jesus.. My enemy must not be given such currency as a gift..

I cant shout

Chai Zimbabweans don suffer.

Chisos! Quadrillion ? Tufiakwa, this is a cause in Zimb. I rather stay in Nigeria as millionaire.

ochejoseph:
Wow!
Zimbabwean magic!

Anyway we are waiting Baba's =N= /$ Magic

I hope it won't turnout the Mugabe way since they both became heads of state at the same period ,hopefully the West German Dutchmark won't happen to the naira!

It sounds like a joke...
I pray it doesn't happen here.

Mugabe is even laughing

Wonders shall never end.... I00 trillion? Blood of goat!
Yet the old gagool doesnt want to leave office... When such an amount can't even pay for a bus fare.

Pathetic!

barcanista:
No be this kind "trillionaire" wey person de pray for

I think their economy is better off with a trade by barter system. I give you two yams and you give me two mudu of drinking garri, half kilogram of groundnut and half kilogram of sugar.

Alot of Money

Lalasticlala...can you see what im read..Jisos Kraist.

Robert Mugabe! The man with 9 degrees with 2 masters.

He has to come learn from our Daura master on how to make 1 US Dollar equal to 1 Zimbabwean Dollar

They need spiritual backup.

Mugabe; ruining Zimbabwe economy since 1987!