Zimbabwean dollar facts for kids
|ISO 4217 Code||ZWL|
|Inflation||98% per day in mid-Nov 2008
or ~1023 % per year
Money loses half its value every 24 hours and 42 minutes
|Banknotes||$1, $5, $10, $20, $50, $100, $500, (plus many more denominations)
Highest denomination – $1014
|This infobox shows the latest status before this currency was rendered obsolete.|
Because of hyperinflation, or inflation that is out of control, the Reserve Bank of Zimbabwe had to print banknotes with higher values to cope with the rising cost of living. In January 2009, Zimbabwe released a banknote for one hundred trillion dollars, or $100,000,000,000,000.
The Zimbabwe dollar had to be revalued three times due to the rising cost of living: in August 2006, August 2008 and February 2009. In August 2006, the first revaluation dollar was violent and too quick, meaning that many people lost their savings because they were unable to convert it into the new currency without fear of violence and corruption.
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Zimbabwean dollar Facts for Kids. Kiddle Encyclopedia.