The Central Bank in Zimbabwe on Thursday introduced higher denomination ZWD25 million and ZWD50 million bank notes, as inflation surge d to 165,000 per cent.
Until now, the highest bank note in the country was ZWD10 million.
But the note’s value has been badly eroded by inflation in recent months, forcing the Central Bank to come up with higher denomination notes for the convenience of the public.
Inflation in Zimbabwe, the highest in the world, has been on an upward trend for years now, and is expected to shoot up even higher in the coming months due to populist election spending by the government in March. Panapress.
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