Friday, April 4, 2008

Zimbabwe gets $50 million bank note

50 mn Zimbabwean dollar
An unidentified man holds the new 50 million Zimbabwean dollar note introduced by the Reserve Bank of Zimbabwe in Harare. The new note is worth one American dollar at the widely-used black market trading. (AP)


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.

http://news.yahoo.com/s/ap/20080404/ap_on_re_af/zimbabwe50_million_note

2 comments:

RAJI MUTHUKRISHNAN said...

The rates are simply mind-blowing!

Gardenia said...

Phew!
Give us this day our daily bread!