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Zimbabwe unveils 100 trillion dollar note

Zimbabwe will introduce a 100 trillion dollar note, in its latest attempt to keep pace with hyperinflation that has left the once-vibrant economy in tatters.

business Updated: Jan 16, 2009 11:51 IST
AFP

Zimbabwe will introduce a 100 trillion dollar note, in its latest attempt to keep pace with hyperinflation that has left the once-vibrant economy in tatters, state media said on Friday.

The new bill would have been worth about 300 US dollars at Thursday's exchange rate on the informal market, where most currency trading now takes place, but the value of the local currency erodes dramatically every day.

The Reserve Bank of Zimbabwe is introducing three other notes in trillion-dollar denominations of 10, 20 and 50, the government mouthpiece Herald newspaper said.

First Published: Jan 16, 2009 11:28 IST