Zimbabwe reach 200million persen inflation

Monetary authorities of Zimbabwe to issue paper money first fraction 100 million dollars, followed more meroketnya level of inflation in the country to reach more than two hundred million percent.

Zimbabwe to issue three new denominations of paper currency, including paper currency fraction 100 million dollars, because this poor country struggling to overcome inflation, which ran fast. Therefore, government media reported Wednesday (3 / 12).

Central Bank of Zimbabwe (The Reserve Bank of Zimbabwe / RBZ) says, the issuance of paper currency fraction that follow a new study recently from cash withdrawal restrictions.

Restrictions have been revised increase to 50 million Zimbabwe dollars for individuals and 100 million dollars to the account holder company, The Herald said.

Previously, the cash advance limit for individual accounts is 500,000 dollars, while the company dizinkan attract one million dollars per day.

Denomination new paper money - 100 million, 50 million and 10 million dollars - is done when the storage must menganri funds in the bank and independent platforms cash (ATMs) to withdraw money. Fractions of a new paper money will circulate in the Thursday start tomorrow.

RBZ Governor Gideon Gono, recently announced that the central bank are working to ensure workers have enough cash for the party season.

Issuance of new paper money is less than a month after the central bank introduced the greenback fraction 500,000 dollars and 100,000 dollars, to deal with the price of basic goods are soaring.

Greenback 100,000 Zimbabwe dollars in value is only equivalent to one U.S. dollar is widely used parallel market in the dark, and only half the amount needs to buy a loaf.

During this year, twenty-seven denominations of new currency was introduced in Zimbabwe. A picture as a model of economy and a regional bread basket, Zimbabwe economy has been falling in the last decade, and now there is lack of basic food such as sugar and cooking oil.

When Gono was appointed governor of the central bank in November 2003, Zimbabwe inflation recorded 619.50 percent, but up to July, annual inflation has reached 213 million percent.