Commodity Online
HARARE : Zimbabwe’s skyrocketing inflation rates now stands at 213 million percent, according to latest data released by the country’s central bank.

Impoverished Zimbabwe on Wednesday issued three new denominations of banknotes, including a one-hundred-million-dollar note.

The Reserve Bank of Zimbabwe (RBZ) said the release of the new notes, 100 million, 50 million and 10 million, followed a recent review of the limit on cash withdrawal. The new notes will come into circulation on Thursday.

The limit has been revised upwards to 50 million Zimbabwe dollars for individuals and 100 million for company account holders.

The new move comes less than a month after the central bank introduced one million, 500,000 and 100,000 notes, to deal with the skyrocketing prices of basic goods.

The 100,000 banknote is worth only one US dollar on the widely-used parallel black market and is only half the amount needed to buy a loaf of bread.

Twenty seven new currency denominations have been introduced in Zimbabwe this year alone.