Central Banking

Z$50 000 bank note coming to Zimbabwe

Zimbabwe's inflation ravaged citizens will soon have a new Z$50 000 bank note to make shopping easier, central bank governor Gideon Gono announced on Tuesday 24 January.

Zimbabwe introduced a temporary form of currency - dubbed bearer cheques - three years ago to alleviate chronic cash shortages.

"We are pleased to announce that with effect from 1 February 2006, a higher denomination of Z$50 000 bearer cheques will be added," Gono said, warning Zimbabweans that inflation could rocket to between