And the Winner of the 10 Million Zimbabwe Dollars is…

I just went to random.org to draw the winner.

And the Winner is…………. Comment number 36, LL who said:

xe.com has this worth
0.00053528813 USD

That note is worth more as recycled paper than as currency.

Having said that, I still hope I win. Anything that my god, Cynikitty, has touched is priceless to me.

Congratulations LL. You are a proud owner of the hyperinflated 10,000,000.00 Zimbabwe bank note. There’s been much speculation in the comment thread on how much this note is actually worth and some people have pointed out that the bill has already expired which is true but hardly the reason why it’s worthless as currency. The inflation rate for the Zimbabwean dollar was somewhere around 10,500,000 at the end of June and is much higher now.

At the time of expiration, the exchange rate was
10,000,000 Zimbabwe Dollar = 0.0009579 US Dollar
which made it slightly less than a tenth of a penny.

The exchange rate today is even less than that:
Tuesday, July 15, 2008
10,000,000 Zimbabwe Dollar (ZWD) = 0.0004920 US Dollar (USD)

As currency it is worthless but as a collector’s item it does have some value. I bought the note off eBay for $406,540,000,000.00. And that’s not even including postage which will cost me at the very least another 8 billion. But to me, $406 billion+ is a small amount to pay for my readers.

Wikipedia’s entry for the Zimbabwean dollar.