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Zimbabwe introduces $100 billion banknote
Zimbabwe is introducing a $100 billion banknote as rampant inflation shows no signs of slowing down.
- Agencies
- Published: 08:56 July 20, 2008
- Image Credit: AP
- The $10 million banknote which came into circulation in January 2008 has already become almost worthless.
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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