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Zimbabwe's 'funny money': old and new currency | by Sokwanele - Zimbabwe
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Zimbabwe's 'funny money': old and new currency

These are 'Bearer Cheques', so-called 'money' that has an expiry date. They have no watermark or little piece of silver ... but this is our 'funny money'.

 

The Reserve Bank of Zimbabwe (RBZ) resorted to using these in an effort to cope with Zimbabwe's hyper-inflation (constantly printing real money is expensive). Notes of an ever increasing denomination have been churned out over the last few years.

 

Inflation is now at over 1000%, meaning that people have to carry huge bundles of notes to do the most basic shopping.

 

The latest measure the RBZ has taken is to literally drop three zero's, and print bearer cheques with a lower denomination. People were given three weeks to swap their money to the new cheques and no one was allowed to carry more than 100million in cash in the course of doing so. Police set up roadblocks and literally seized anything over that amount - no receipts given out.

 

This image shows some of the old bearer cheques along with the the new.

 

It accompanies a story on the Sokwanele website entitled "Welcome to a new sunrise in Zimbabwe": or Murambatsvina Part 2". We also have a blog (This is Zimbabwe), which features smaller day to day pieces about life in Zimbabwe.

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Taken on August 29, 2006