Currency Zimbawe Zimbabwe | Zimbabwe introduces new $50 billion note

January 10, 2009 by frankls
Filed under: Hot Topics

Zimbabwe introduces new $50 billion note
Zimbabwe’s central bank will introduce a $50 billion note — enough to buy just two loaves of bread — as a way of fighting cash shortages amid spiraling inflation.

The country’s acting finance minister, Patrick Chinamasa, made the announcement in a government gazette released Saturday.
While Chinamasa did not give the date on which the $50 billion and new $20 billion notes would come into circulation, an official at the Reserve Bank of Zimbabwe said the notes would be distributed to all banks by the end of Monday.

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