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$100 Billion Note Introduced in Zimbabwe

Zimbabwe NoteThe U.S. public may be feeling a pinch of inflation’s rise, but it’s nothing compared to the stranglehold it has on Zimbabweans. On Saturday, the Zimbabwe’s Central Bank issued a new Z$100 billion banknote to try and combat the severe shortages of money.

How much will the new note buy? According to CNN and BBC reports, its not enough for lunch or, for that matter, a loaf of bread. Apparently, it is sufficient — at least for now — to purchase four oranges.

Zimbabwe is stricken by severe hyperinflation that some news agency’s have reported as high as 2,200,000% — the Zimbabwean government stopped providing figures long ago. Contrast that to an already outrageously high of 50,000 percent reported back in January when the central bank issued new $10 million notes.

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$10 Million Note Introduced by Central Bank of Zimbabwe

Zimbabwe's Central Bank issued new banknotes, including Z$1 million, Z$5 million and Z$10 million dollar notes to combat cash shortages.Zimbabwe’s Central Bank issued new banknotes, including Z$1 million, Z$5 million and Z$10 million dollar notes.

Notes like the new 10 million were released into circulation to combat extreme shortages of money. Bags of cash are needed to purchase simple goods at stores and extreme waits at financial institutions are normal when withdrawing money.

Zimbabwe is stricken by severe hyperinflation that some news agency’s have reported as high as 50,000 percent. Current official inflation numbers have not been published by the government.

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