HARARE — Zimbabwe’s central bank on Tuesday announced the introduction of a new 50-dollar note, the country’s highest denomination, worth only around $0.60 in US currency.
Insufficient to pay even for a loaf of bread, the bill’s entry into circulation has revived memories of hyperinflation seen more than a decade ago in the southern African nation.
As price growth spiraled out of control, denominations at the time mounted as high as a 100-trillion-dollar note.
Award-winning journalist and government critic Hopewell Chin’ono scoffed at the new banknote, which at the unofficial black market exchange rate will be worth just $0.35 in US dollars.
“It tells you somet…
Keep on reading: Zimbabwe’s new biggest banknote is worth just $0.60