New $50 note to start circulating tomorrow


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New Zimbabwe $50 notes are to start circulating tomorrow and the central bank has promised to pump in $360 million into the market.

Zimbabwe currently has $2, $5 and $10 notes which are almost worthless as the Zimbabwe dollar is now trading at $85.51 to the United States dollar meaning that the highest denomination will be worth about 50 US cents and much less on the black market.

The note which was first mooted in January has probably been delayed to ensure market stability which has prevailed this year with the local currency falling by $3.42 in the past six months.

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Charles Rukuni
The Insider is a political and business bulletin about Zimbabwe, edited by Charles Rukuni. Founded in 1990, it was a printed 12-page subscription only newsletter until 2003 when Zimbabwe's hyper-inflation made it impossible to continue printing.

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