ZABG $300 Quadrillion Dollars Zimbabwe Hyperinflation Cheque
Extremely Rare Handwritten ZABG Bearer Cheque $300 Quadrillion Dollars
COMPANY: ZABG Bank
TYPE: Bearer Cheque / Inflation Money / Emergency Currency
Purpose: Issued issued due to a shortage of local and foreign currency (USD/ZAR)
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Many emergency cheques were unused and canceled when the currency finally collapsed and the country adopted the US Dollar, GB Pound and South African Rand as day-to-day currencies.
In 2008 and 2009 the state’s central bank printed so much of its currency, the Zimbabwe dollar, that the country experienced mind-boggling hyperinflation that reached 500 billion percent. Immediately before the US dollar was formally adopted in February 2009, $1 could fetch you $35 quadrillion Zimbabwean dollars.
Currency dealers said the plunging value of Zimbabwe dollars made it almost impossible to estimate its value, but some thought it would have been worth no more than a few pounds at that time — and certainly even less today. See Story: The Daily Mail: Is this the biggest cheque EVER?
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