Zimbabwe issues $50-million bank note; buys just three loaves of bread
Fri Apr 4, 10:31 AM
The Associated Press
(The Canadian Press)By The Associated Press
HARARE, Zimbabwe - Authorities in Zimbabwe have issued a new mega bank note in an attempt to cope with the troubled African country's runaway inflation.
The size of the new note - 50 million Zimbabwean dollars.
The new bill issued Friday is the third time in three months that the central bank in Harare has issued a higher denomination note in response to the country's 100,000 per cent annual inflating rate.
In practical terms, the $50-million bill is worth just US$1 in trading on Zimbabwe's widely used black market.
That means it can buy just three loaves of bread.
Wonder what A-Rod's salary is in Zimbabwean dollars?