Only a month after issuing the $750,000 note, Zimbabwe is upping the stakes with million dollar notes. The BBC reports that inflation is now 50,000%.
The NY Times reports:
The government of President Robert G. Mugabe, battered by hyperinflation, said it would begin issuing new currency beginning Friday: $1 million, $5 million and $10 million notes. The highest existing note, introduced just last month, is $750,000. The new $10 million note is the equivalent of about $4 in American currency [emphasis added, Ed.] at the black market exchange rate used by most Zimbabweans. A hamburger at an ordinary cafe costs about $15 million in Zimbabwe money, or $6 American. Cash has dried up and long lines have become a feature at banks and A.T.M.’s.
We’ve got family visiting with us this week between African hunting and safari shows in Dallas and Reno, and they’re returning to Zimbabwe at the end of January after being in the States for nearly a month. How things have changed since they left.
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