Zimbabwe releases 200,000 dollar note

The Zimbabwe central bank unveiled a new bank note today that doubled the value of the highest existing denomination in the fast weakening currency.

The Reserve Bank said in a statement circulation of the new 200,000 Zimbabwe dollar note from tomorrow was for “convenience” in business and individual transactions.

The note is worth £6.50 at the official exchange rate or 50p at the dominant illegal black market rate.

The bank made no mention of the nation’s runaway inflation that has led to bundles of bills being needed for routine purchases in a nation where cheques have become virtually obsolete.