Half-a-Billion Dollar Note Introduced in Zimbabwe

Zimbabwe has introduced a new half-a-billion dollar bank note in a bid to tackle cash shortages fed by rampant inflation, the central bank said on Thursday.

“Introducing the new 500,000,000 bearer cheque for your convenience,” read a Reserve Bank of Zimbabwe full-page advert in the state daily, The Herald, displaying specimens of the new note.

The note, comes into circulation 10 days after the introduction of a quarter-of-a-billion one early this month.

This is the fourth set of high denomination notes to be issued this year, the first being in January when a 10 million dollar note was put into circulation. The next was on April 2 when a 50 million dollar note came into being before the 100 and 250 million dollar notes were introduced on May 2.

The southern African nation, currently gripped by a post-election crisis, has been ravaged by hyperinflation which reached 165,000 percent in February. No latest inflation figures have been released since then.

Source: Yahoo! News

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