Zimbabwe introduces $100 billion banknot

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Old 20-Jul-2008
Post Zimbabwe introduces $100 billion banknot

Zimbabwe introduces $100 billion banknot

Published: July 20, 2008, 08:56

Harare: Zimbabwe is introducing a $100 billion banknote as rampant inflation shows no signs of slowing down.

But the note may soon be worthless in a country where the official inflation rate is 2.2 million per cent.

The new bills will officially come into circulation Monday, although they were available in the market on Saturday.

The new $100 billion banknote is not enough to buy a loaf of bread. It can only buy four oranges. The new note is equal to one dollar.

Several new notes have been introduced in 2008 as a response to Zimbabwe's inflation problem.

A $10 million banknote came into circulation in January but has now become almost worthless.

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