As Zimbabwe sinks deeper into an inflation spiral, the central bank Tuesday introduced two new higher denomination notes of Z$100,000,000 and Z$250,000,000 for the convenience of the public. Until now, the highest denomination note in the country was Z$50,000,000 put into circulation only last month. The introduction of the new higher denomination notes was in response to raging inflation, which was 165,000 percent in March, the last announced figure. Inflation for April is expected to be much higher. The central bank said the new notes were intended to ease transaction difficulties being experienced by the public, which involved carrying huge volumes of bank notes. In recent weeks, banks have run short of the local currency, causing long queues. The central bank said the new notes were also intended to ease the bank note shortages that were being experienced by banks.
