Friday, December 12, 2008

Zimbabwe Gets New Money

As an attempt to combat hyperinflation, Zimbabwe has introduced new denominations of money. In a country currently effected by a severe cholera outbreak, Zimbabwe is also staring down a troubled economy. It is their government's hope that by releasing new high denominations of money, they can help combat their lack of tangible currency due to a devaluing of their country's tender.

According to CNN, Zimbabwe's newly circulated $500 million note is worth approximately 8 U.S. dollars, and can only purchase about 8 loaves of bread.

The new $500 million note is also accompanied by the introduction of a $100 million note, and a $200 million dollar note into the African country's economy.

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