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Friday, December 12, 2008

New higher limit Zimbabwe currency issued

HARARE, Zimbabwe, Dec. 12 (UPI) -- The Reserve Bank of Zimbabwe introduced new $200 million and $500 million notes in Harare on Friday.

The RBZ says the new notes should pave way for the increase in withdrawal limits to $500 million a week.

A week ago, the RBZ unveiled $10 million, $50 million and $100 million notes.

Officials say the 500 million Zimbabwean dollar note is worth about $8 in U.S. currency, enough to buy eight loaves of bread, in the southern African country's latest sign of spiraling hyperinflation.

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