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11.2 million % inflation! How is Zimbabwe surviving?

September 18, 2008

A $10 trillion note!

The Zimbabwean central bank cut 10 zeroes off its currency last month, revaluing the $10 trillion note to $1,00 Zimbabwe dollars, in a bid to ease widespread cash shortages as the country battles the world's highest inflation rate.

The bank has introduced a series of new notes since August, after the central bank struck 10 zeros off the local currency.

Zimbabwe's currency is trading around Zimbabwe $350 -- $35 trillion in the old value -- against the US dollar.

But this new Z$1,000 note can only buy a loaf of bread.

Image: Members of South Africa's largest labour federation, Congress of South African Trade Union, march against soaring petrol and food prices in Durban. | Photograph: Rajesh Jantilal/AFP/Getty Images

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