Zimbabwe's Z$50bn note is worth just 94c

Inflation-hit Zimbabwe released a new Z$50bn note today, enough to buy three newspapers in the nation’s ruined economy.

The new note is worth around 94c at today’s black market exchange rate. Two weeks ago Z$50bn was worth €2.45.

The Reserve Bank of Zimbabwe unveiled new Z$20bn and Z$50bn notes in an advert in today’s Herald newspaper.

Local currency is so scarce that most shops demand US dollars or South African rand.

Zimbabwe’s economy is in meltdown amid a months-long political crisis over President Robert Mugabe sharing power with the opposition and acute shortages.

Lack of clean water has caused a cholera epidemic that has killed nearly 2,000 people.