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Zimbabwe adds 500 mln dollar note as prices rocket
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Zimbabwe adds 500 mln dollar note as prices rocket
Zimbabwe?s central bank introduced 500 million Zimbabwe dollar notes worth just $2 yesterday in the latest sign of spiralling hyperinflation, only a week after issuing the 250 million bill.
The new highest denomination note would buy about? two loaves of bread. The central bank also introduced special agricultural cheques in 5 billion, 25 billion and 50 billion Zimbabwe dollar denominations to facilitate payments to farmers during the current selling season.
Farmers normally have to carry huge stacks of bank notes after selling their produce to state agencies, while consumers often carry large piles of cash with them for simple daily transactions. The country is currently in the middle of the tobacco and maize marketing season.
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