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| author/source:Zimbabwe Independent |
| published:Fri 4-Apr-2008 |
| posted on this site:Fri 4-Apr-2008 |
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| Article Type : News |
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| The central bank last night introduced new $50 million and $25 million bearer cheques as inflation rose to 164 900,3% for February |
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Staff writer
The central bank last night introduced new $50 million and $25 million bearer cheques as inflation rose to 164 900,3% for February. The new notes coincide with a review of the daily cash withdrawal limits which move up from $500 million to $5 billion with effect from today. “With effect from Friday April 4, the Reserve Bank of Zimbabwe is releasing new $50 and $25 million bearer cheques into circulation,” the bank said in a statement. The bank said the review of the daily cash withdrawals was meant to provide relief and convenience to the transacting public. The bank has been fighting a losing battle against inflation which continues to spiral out of control. On January 18 this year, the central bank introduced a batch of new notes, the $10 million, $5 million and $1 million bearer cheques.
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