Zimbabwe issues digital currency

1. Is one MB C the digital currency of Zimbabwe? If this digital currency is indeed Zimbabwe's digital currency, it is also a kind of currency developed at a later stage.

2.

Zimbabwe carried out monetary reform on February 2 this year, removing 12 zeros from its huge banknotes, that is, the current 100 billion banknotes will be equal to 1 yuan. In August last year, the Central Bank of Zimbabwe announced that it would remove the 10 zeros from the bank notes, but it rose back because of hyperinflation. At present, Zimbabwe's inflation rate has reached 1 billion percent. From January 2008 to one year ago, the devaluation of the currency has reached 100 billion times, which is beyond the speed of the legal currency and gold yuan coupons issued by the Chinese Kuomintang government 60 years ago. On January 16, this year, Zimbabwe issued a set of new banknotes with the largest denomination in the world, including 10 trillion, 20 trillion, 50 trillion and 100 trillion Tianjin yuan. However, because the denomination is too large and inconvenient to use, according to the official exchange rate of Zimbabwe on February 8, the current 1 US dollar and 32.19 new Zimbabwean dollars have depreciated by 50% in five days compared with February 3. It seems that there will be another super large denomination banknote in Zimbabwe in a year. After all, it does not solve the real problem. It does not work to delete zero banknotes alone

the figure below shows the new Zimbabwe dollar

issued on February 2

3. In order to keep the current currency in circulation
if we only rely on the government to issue less money to improve the value of money, we are afraid that it can only issue a few hundred yuan in total (not necessarily so little, for example). In this case, circulation can not meet the needs of the people
the specific reason, of course, depends on his own situation.

4.

There are 79 kinds of Zimbabwean banknotes in total, and the banknotes issued in different years and periods are also different

In 1980-1994 edition, there are four kinds of banknotes, namely,

2 Zimbabwean dollars, 5 Zimbabwean dollars, 10 Zimbabwean dollars and 20 Zimbabwean dollars

There are eight kinds of banknotes issued in 1994-2003 editions, which are respectively

100 Zimbabwean dollars, 500 Zimbabwean dollars, 500 Zimbabwean dollars and 1000 Zimbabwean dollars. There are also five Zimbabwean dollars, 10 Zimbabwean dollars, 20 Zimbabwean dollars and 50 Zimbabwean dollars

There are 28 kinds of banknotes issued in 2006-2008 editions, which are respectively:

Zimbabwean $750000, Zimbabwean $50000000, Zimbabwean $100000000, Zimbabwean $250000000 and Zimbabwean $500000000

There are also 1, 5, 10, 50, 1, 5, 10, 20, 50, 100, 500, 1000, 5000, 10000, 50000, 100000, 200000, 250000, 500000, 1000000, 5000000, 10000000 and 25000000 yuan

4. There are four kinds of banknotes issued in 2008, which are

500000000 yuan, 2500000000 yuan, 500000000 yuan and 100000000000 yuan

There are 26 kinds of banknotes issued in 2007-2008 edition, which are:

50000000000 yuan, 1000000000000 yuan, 20000000000 Yuan, 500000000000 Yuan and 100000000000000 yuan

including 1 yuan, 5 yuan, 10 yuan, 20 yuan, 100 yuan, 500 yuan, 1000 yuan, 10000 yuan, 20000 yuan, 50000 yuan, 100000 yuan, 500000 yuan, 1000000 yuan, 10000000 yuan, 50000000 yuan, 100000000 yuan, 200000000 yuan, 500000000 yuan, 100000000 yuan, 100000000 yuan, 100000000 yuan and 2000000000 yuan

There are seven kinds of notes issued in

6 and 2009 editions, which are respectively

50 Zimbabwean dollars, 100 Zimbabwean dollars and 500 Zimbabwean dollars. And 1 yuan, 5 yuan, 10 yuan, 20 yuan

7. There are two kinds of banknotes issued in 2016, which are respectively

2 Zimbabwe dollars and 5 Zimbabwe dollars

extended information:

in the initial stage of currency issuance, the currency value of 1 Jin Yuan is higher than that of 1 US dollar, and the exchange rate is 0.68 Jin Yuan to 1 US dollar. Then, with the inflation of the country, the currency depreciated sharply; By July 26, 2006, its exchange rate had dropped to 1 million Jin Yuan to 1 pound

in January 2008, banknotes with denominations of 10 million, 5 million and 1 million Jin Yuan were launched; On April 4, banknotes with denominations of 25 million Jin Yuan and 50 million Jin Yuan were launched; On May 6, banknotes with denominations of 100 million and 250 million TSU were launched. On August 1, 2008, Zimbabwe issued the third generation of Tianjin dollar. The new currency of 1 yuan is equivalent to the previous generation of 10 billion Tianjin dollar

on December 4, three new banknotes with denominations of 10 million, 50 million and 100 million Jin Yuan were launched; On December 12, 500 million banknotes were launched; On December 19, 10 billion banknotes were launched

source of reference materials: Network Zimbabwean currency

5. The Central Bank of Zimbabwe has issued a new set of currency with a maximum denomination of 10 million Tsun dollars and a minimum denomination of 1 million Tsun dollars, making it the largest currency in the world today

according to the report, there are three kinds of new coins in this set. In addition to the two kinds mentioned above, there are also five million Jin Yuan denominations. This is the second time that the Reserve Bank of Zimbabwe has issued banknotes with huge denominations since it launched currency with denominations of 750000, 500000 and 250000 in December last year

Reserve Bank President Gono said that the new currency was mainly issued to solve the problem of cash shortage in Zimbabwe. At the same time of issuing the new currency, the central bank stipulated that indivials and companies should withdraw 500 million Jin Yuan from the bank every day

according to the current official exchange rate of Zimbabwe, one dollar can be converted into 30000 Jin Yuan<

since October last year, Zimbabwe has experienced a cash shortage, with people queuing up at bank gates and in front of ATMs, waiting to withdraw money, but often unable to do so for a day. According to official statistics, Zimbabwe's inflation rate was close to 8000% in October last year.

6. Circulation of 100 trillion Zimbabwean currency: it is the basic currency of Zimbabwe, equivalent to about RMB 1 yuan, because the circulation is too much to be counted.

7. Currency devaluation
or
the improvement of living conditions requires high consumption
it is not convenient to carry things with the previous face value
!! For example,
in the past,
10 yuan was the largest denomination in China,
when the living conditions were good,
1000 yuan was needed to buy a color TV set,
100 banknotes were needed,
and the largest denomination was needed,
if 100 yuan was needed,
10 pieces were convenient,
I won't say another reason

8. The latest exchange rate: 1 yuan = 36.573 nzbw yuan. Nowadays, inflation is very severe, so it is not worth money to exchange RMB.
< 100 million and 250 million nzbw yuan are equivalent to 500 and 1000 yuan respectively

9. It's out of circulation. It can't be changed. According to news reports, the Central Bank of Zimbabwe announced the "currency exchange" action. From June 15 to September 30, the 17.5 billion Zimbabwe dollars can be exchanged for 5 US dollars, and each Zimbabwe dollar account can get at least 5 US dollars. In addition, 250 trillion Jin Yuan can be converted into US $1 for Jin Yuan issued before 2009. This move once again brought the country that suffered from inflation before 2009 and the infamous Zimbabwean dollar back to our attention. In fact, the Zimbabwean dollar has been "dead" since it was no longer used as the legal tender of Zimbabwe in 2009. The Central Bank of Zimbabwe just let this junk currency completely withdraw from the historical stage this time, which will not have much impact on the economy and people's life of Zimbabwe.

10. Chinese full name: Zimbabwean dollar
currency conversion: one yuan = 100 points
currency value: 1, 5, 10, 20, 50 points and 1 yuan
Introction: Zimbabwean dollar is issued by the Central Bank of Zimbabwe and is the legal tender of Zimbabwe. Each yuan is divided into 100 cents, Its symbol is abbreviated as "$" or "Z $" (distinguished from other currencies with "Yuan" as the unit). The ripples on the shield symbolize the vast waters of Zimbabwe. At the bottom of the shield is the world-famous cultural site "stone city". Five pointed stars and Zimbabweans stand at the top of the shield. The bird is a symbol of the wishes of a country and a nation, as well as the ancient culture of Zimbabwe and African countries. There are corn and cotton patterns on the hillside at the bottom of the shield, symbolizing Zimbabwe's rich agricultural procts and mineral resources. On both sides are Zimbabwean antelopes. "Unity, freedom, labor" is written on the ribbon in English.