Sunday, April 6, 2008

Zimbabwe Gets $50 Million Bank Note


How much does it cost for a loaf of bread in Zimbabwe?
With inflation raging at more than 100,000 percent, a loaf costs 50 million Zimbabwe dollars.

Now, Zimbabweans will need only one bill to pay for it. Authorities on Friday introduced a new 50 million bank note, state media reported.

The new Zimbabwe dollar note is worth $1 at the widely used black market trading and can buy just three loaves of bread.

It was the third time in three months that the nation's central bank issued a higher denomination note in response to record inflation.

No comments: