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Saturday, 11 October 2008

Zimbabwe releases $100 billion note

20/07/2008 8:30:00 AM.  | AAP
A $100,000,000,000 bank note is being introduced in Zimbabwe in response to hyper-inflation.

The country's official inflation rate is more than 2.2 million per cent a year.

Zimbabwe's central bank is hoping the new note will help tackle rampant cash shortages.

But this man says the new bank note won't even cover his bus fare.

"It's worthless, worth nought. Nowadays, for my expenses a day, I need about $500 billion."

"So $100 billion can't do anything because for me to go home I need $250 billion, so this note is worthless."

A $10 million note was issued in January, then a $50 million note in April.

In May notes for $100 million and $250 million dollars were issued, swiftly followed by those for $5 billion $25 billion and $50 billion.

The new note will go into circulation on Monday.

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