Central Banking

Zimbabwe introduces Z$100 billion note

The Reserve Bank of Zimbabwe on Monday began circulating a Z$100 billion note.

The note is worth $5.35 officially but is likely to be worth much less in real terms.

Gideon Gono, the governor of the Reserve Bank, announced the measure on Saturday. It follows news last week that annual inflation had risen to 2.2m%.

The note is the latest bid by the central bank to handle widespread cash shortages that have resulted from hyperinflation. It has issued several new notes since the start of this yea