BBC NEWS | Africa | Zimbabwe rolls out Z$100tr note
Posted on: January 16, 2009
- In: Clickry | news
- Leave a Comment
Zimbabwe is introducing a Z$100 trillion note, currently worth about US$30 (£20), state media reports.
Other notes in trillion-dollar denominations of 10, 20 and 50 are also being released to help Zimbabweans cope with hyperinflation.
However, the dollarisation of the economy means that few products are available in the local currency.
On Thursday, the opposition leader said he was still committed to power-sharing intended to rescue the failing economy.
Since September, when the deal was signed, talks have stalled over who should control key ministries.
Movement for Democratic Change (MDC) leader Morgan Tsvangirai said he was due to hold talks with President Robert Mugabe “within this coming week” to try to resolve the political crisis.
He described Mr Mugabe as “part of the problem but also part of the solution”.
The latest annual figure for inflation, estimated in July last year, was 231m% – the world’s highest.
High prices
“In a move meant to ensure that the public has access to their money from banks, the Reserve Bank of Zimbabwe has introduced a new family of banknotes which will gradually come into circulation, starting with the Z$10 trillion,” Zimbabwe’s state-run Herald newspaper quotes a bank statement as saying.
clickry.blogspot.com
clickry.wordpress.com
Valleywag - valleywag.wordpress.com 
Leave a comment