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Zimbabwe's central bank will introduce a $100 trillion Zimbabwean banknote, worth about US $33 on the black market, to try to ease desperate cash shortages, state-run media said on Friday.
Prices are doubling every day and food and fuel are in short supply. A cholera epidemic has killed more than 2,000 people and a deadlock between President Robert Mugabe and the opposition has put hopes of ending the crisis on hold.
Hyper-inflation has forced the central bank to continue to release new banknotes which quickly become almost worthless.
There is an official exchange rate, but most Zimbabweans resort to the informal market for currency transactions.
In addition to the Z$100 trillion dollar note, the Reserve Bank of Zimbabwe plans to launch Z$10 trillion, Z$20 trillion and Z$50 trillion notes, the Herald newspaper reported.
Prices are doubling every day and food and fuel are in short supply. A cholera epidemic has killed more than 2,000 people and a deadlock between President Robert Mugabe and the opposition has put hopes of ending the crisis on hold.
Hyper-inflation has forced the central bank to continue to release new banknotes which quickly become almost worthless.
There is an official exchange rate, but most Zimbabweans resort to the informal market for currency transactions.
In addition to the Z$100 trillion dollar note, the Reserve Bank of Zimbabwe plans to launch Z$10 trillion, Z$20 trillion and Z$50 trillion notes, the Herald newspaper reported.
Zimbabwe introduces $100 trillion banknote
Zimbabwe's central bank will introduce a $100 trillion Zimbabwean banknote, worth about US $33 on the black market, to try to ease desperate cash shortages, state-run media said on Friday.
www.telegraph.co.uk
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