Picture of the $10,000,000 Zimbabwe dollar note

The Top 3 Most Worthless Currencies

You definitely don’t want any of these!

When it comes to some of the worlds most useless and worthless currencies there have been quite a few over the years, however in fairly recent times there have been some spectacular devaluation of some currencies followed by some crazy printing of ridiculous notes and coins. We all know that when things go wrong some governments do some daft things but read below about three of the worlds most devalued…

Why devalue foreign coins and notes?

There are many reasons why countries devalue their currency and this can include trying to increase exports as well as trying to reduce the demand to import products. However for some countries devaluation can spiral out of control until their currency is basically worthless. Here are the three worst offenders…

Zimbabwe

The inflation rate in the UK has fluctuated a little bit in the last few years by a few percent and most of us have probably worried about it at some time or other. However spare a thought for the hapless Zimbabwe currency where the inflation rate hit 100,000 percent. (Yes, you read that correct – it was 100 thousand percent!).

This lead to the issue of the £10 million dollar note. As a comparison you can buy 30,000 Zimbabwe Dollars for just 1 USD. If you wanted to buy a roll of toilet paper then this would set you back a trifling $145,000 Zimbabwe Dollars and a beer would be in the region of $200,000 Zimbabwe Dollars.

We have had a few call from customers looking to exchange foreign coin and notes who have found a 10m Zimbabwe note in their collection and have thought they have won the lottery. As you can imagine they are a bit disappointed to find out the real value!

Vietnam

Recently Vietnam have had a bit of a financial kicking with the strangely named ‘Dong’ being devalued by 5% which makes an exchange rate of around 11,885 ‘Dongs’ to the Dollar (USD that is).

Unlike the £10m Zimbabwe note the Vietnamese were a bit more conservative and issued a 500,000 Dong which is worth around $30 USD.

Indonesia

Back on the late 90s Indonesia was stuck in a bit of a pickle and their currency (the Rupiah) lost eighty percent of it’s value over just a few weeks. This caused outrage amongst the Indonesian population and riots ensued. The biggest note is the 100 thousand rupiah note which is worth around ten USD.

If you have any foreign coins or notes that you want to exchange or if you’d like some advice then please contact us. We are always glad to help.  Our team is always on hand to answer any questions you may have about our foreign coin exchange service and we would be delighted to help you get the most from the spare change you have available. Remember, you don’t even need to sort or count your coins.  We have local drop off points that you can use and if your coins weigh over 10kg we will pick them up from you FREE of charge!  What a great service!

 

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