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Zim to introduce 1m Zimbuck note
(SomaliNet) Zimbabwean central bank said on Monday that Zimbabwe will soon introduce higher denomination banknotes, of up to one million Zimbabwean dollars, in a bid to ease the effects of hyperinflation.
That doesn't make a bit of sense ...
Zimbabwe trimmed 10 zeros off the currency on August 1, but it continues to lose value as inflation surges.

The Zim government put inflation at 230 million percent for July.
The Zimbabawe government put inflation at 230 million percent for July, the world's highest, although the Washington-based Cato Institute foundation estimates it now at 10,2 quadrillion percent.

Currently, the highest denomination banknote is Z$50,000, not enough to buy a loaf of bread, and the central bank plans to introduce Z$100,000, Z$500,000 and Z$1-million (about $8) banknotes in a bid to help consumers battling to make simple purchases.

"In the measures underway, the Reserve Bank plans to introduce a number of new, higher denominations; review the cash withdrawal limits, as well as commence aggressive campaigns for increased usage of alternative means of payment," the central bank said in a statement.
Posted by: Fred 2008-11-04
http://www.rantburg.com/poparticle.php?ID=254334