Zimbabwe To Issue $100 Trillion Banknote

Zimbabwe’s central bank will introduce a $100 trillion banknote to try to ease cash shortages, Zimbabwe state-run media has reported.

Along with the $100 trillion dollar note, the Reserve Bank of Zimbabwe wall also launch $10 trillion, $20 trillion and $50 trillion notes.

The once prosperous Zimbabwe continues to fall apart, with inflation officially at 231 million per cent, but believed to be much higher. As of September 2008, the Government allowed the few remaining retail outlets in the country to accept US dollars, with the greenback taking the role of defacto currency.

Notably the new note issue is in the third series of Zimbabwe Dollars; the Government launched the series in August 2008 in an effort to reduce the number of zeros in the currency, cutting the number by ten zeros. The new $100 trillion note will have a market value when introduced of around $33 US Dollars.

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