What was the public reaction to the introduction of the 100 trillion dollar note?

The introduction of the 100 trillion dollar note in Zimbabwe in 2008 sparked both surprise and controversy among the public. Amidst hyperinflation, the government issued the note to cope with the rapidly devaluing currency. The immediate public reaction was one of shock, as the value of the currency had plummeted to such an extent that it required a note of such a high denomination to conduct everyday transactions.

Many Zimbabweans struggled to understand the practicality of such a large note, given the economic instability. The value of goods and services had become so inflated that even the 100 trillion dollar note quickly lost its purchasing power. This scenario left people with little faith in the national currency and its ability to function as a medium of exchange.

For the remittance business, the introduction of this note had a significant impact. With people losing confidence in their local currency, remittance services became more crucial than ever. Many relied on sending and receiving foreign currencies, as it offered more stability and value. This shift made international money transfer services more important in Zimbabwe's economy, as people looked for safer ways to preserve their wealth.

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