The BBC reports that Zimbabwe has just introduced a Z$100,000,000 note, which thanks to hyperinflation is not enough to buy a meal, assuming there is food to be had.
"Some Zimbabweans are already calling for higher denominations in a country where the official annual inflation rate has exceeded 2,200,000%...
...Nowadays, for my expenses a day, I need about Z$500 billion," one resident said.
"So Z$100 billion can't do anything because for me to go home I need Z$250 billion, so this [note] is worthless."
I can remember when the largest bank notes were $20, and trading 6 for 1 USD.
A newspaper that cost $30 Billion the Sunday before last was $50 Billion yesterday.
Posted by: Steve Hayes | July 21, 2008 at 12:14 PM