Harare issues $100 trillion banknote
Harare, January 16:
The Reserve Bank of Zimbabwe (RBZ) has introduced a new family of trillion Zim-dollar banknotes in denominations of 100 trillion, 50 trillion, 20 trillion and 10 trillion that went into circulation today, starting with the 10 trillion notes, a media report said.
The 20 trillion, 50 trillion and 100 trillion notes will be introduced gradually, The Herald newspaper said. In a statement yesterday, the Reserve Bank of Zimbabwe said the notes will ensure that those in formal employment withdraw their salaries with minimal hassle.
“In a move meant to ensure that the people have access to their money from banks, the Reserve Bank of Zimbabwe has introduced a new family of banknotes which will gradually come into circulation, starting with the 10 trillion,” read the statement from the RBZ.
With effect from January 12, workers can now withdraw their entire January salary in cash as long as they produce their current payslips. The new notes
have the same security features as the existing ones: a colour shift stripe with RBZ printed on it, the Zimbabwe Bird colour shift on the front, and see-through of the values on either side which are in perfect register.
The 10 trillion note has the image of the RBZ Building and the Conical Tower at the Great Zimbabwe National Monuments.
The 100 trillion note has the image of a buffalo and the Victoria Falls, the 50 trillion has the Kariba Dam spilling and an elephant, while a mineworker drilling in an underground shaft and the GMB grain silos appear on the new 20 trillion note. RBZ last week introduced 10 billion, 20 billion and 50 billion Zim-dollar notes with a view to enabling workers to access their full salaries.
Inflation in Zimbabwe has spiralled out of control. According to last official estimates, inflation in July of last year stood at 231 million percent in the country.