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Still going higher in Zimbabwe

The last time I wrote about a new note being introduced in Zimbabwe was two months ago when a $500 million note was introduced but now the highest note will be $100 billion.

This is not surprising when official inflation stands at 2.2 million percent and I think the problem is that they are not introducing high enough notes.

At this point it was better to introduce a $1 trillion note as the highest denomination because the $100 billion will not be worth that much especially in an environment of such high inflation.

The Reserve Bank of Zimbabwe introduces a higher note when people are already looking past it.

I am also hoping that the introduction of the $100 billion note will mean that the daily maximum withdrawal limit will be increased to a higher value possibly a trillion dollars.

This has been going on for a long time now and it cannot continue to go on like this because this is very sad indeed. What I don't understand is why the daily maximum withdrawal limit can be set at just above the price of a loaf of bread. People should be allowed to withdraw as much as they can or at least some practical amounts and not these token amounts.

You're right Chris. Its hard to imagine that the current maximum daily withdrawal limit is less than AUD$1. I think the limit should be based on what the money can buy and be revised every two days or so because these are big numbers but don't mean a lot in that hyper-inflation environment.

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