January 29, 2008

The $10 million note

With the state of the financial world as it is, the maybe we should take a look at Zimbabwe, where they have just released a $10 million note, which sounds all very grand and that, but it is not great as we think it is.

The country is suffering what could be termed as hyper inflation currently running at around 50,000 per cent, which is why the central bank has had to issue the new notes. These are said to the largest denomination bank note issued today throughout the whole world.

But should you find yourself with couple of these in the palm of your hand, before you set off to buy your villa and fast sports car, it may be worth considering the fact that the $10 million note is worth around £2! Life just is not fair at all.

Source [Gadling]