There was a coin with the… 100-billion-drachmas [photo]

    On 3 November 1944, released the largest nominal…
    value of Greek paper money. It is that of the 100 billion drachma note, which bears the signature of the governor of the Bank of Greece, Xenophon Zolotas. However, the actual value was almost negligible.

    Generally, during the second World War, under the pressure of the economic collapse of Greece and the hyperinflation, the drachma has experienced the greatest depreciation in the history of. Printed bills with a nominal value of even a billion drachmas, their exchange value, however, was minimal.
    The bill of 100 billion drachmas followed by the versions of 5, 25 and 200 million and 2 billion. At today’s prices and based on gold the pound sterling, the actual value should not exceed the current 10 euro cents. Eventually, he retired a few days after its release.
    In μετακατοχική period, there were two currency reforms in order to give Greece a stable currency. The first happened in November of 1944, so the underestimated drachma was replaced with a new one, with a rate that was set into 50.000.000.000 old drachmas for every 1 new. The second reform occurred a decade later, in 1954, when the drachma was replaced again with a newer with a ratio of 1000 drachmas to 1 new.