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Notes enter trillion zone


The Reserve Bank of Zimbabwe(RBZ) this week announced it was introducing new notes in the form of 10, 20, 50 and 100 trillion dollars.

This is hardly surprising with the way prices of goods has been rising but I am bit surprised that zero slashing seems to have been abandoned now.

In July 2008 when the situation had not reached the same level as it is now, RBZ slashed 10 zeros and was even bold enough to introduce coins.

This now seems like a long way ago now yet its only seven months but I expected the RBZ to cut the zeros again maybe last month this but it seems like it now wants to continue bringing higher denominated notes.

At the same time the local currency has become worthless and the economy is slowly being dollarised. I wonder what happened to sovereignty.

Dollarisation is affecting the ordinary people who do not earn in US dollars and when they go to change the local currency to US dollars they don't get much in return.

I think if goods are being sold in US dollars or any other currency for that matter then everybody should earn their salaries in that currency. This will make going to work worthwhile for most people and I don't think it is right now for most Zimbabweans.

I am now waiting to see what the next note will be but it appears some people are about world records of some sort.

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