Just as you thought that the situation in the Zimbabwe economy could not get any worse, the country has now released a Z$100 trillion dollar note which last week would have been worth US$30. Other notes in trillion-dollar denominations of 10, 20 and 50 are also being released to help Zimbabweans cope with hyperinflation. In a statement on Thursday, the Reserve Bank of Zimbabwe said the notes will ensure that those in formal employment withdraw their salaries with minimal hassle.

“In a move meant to ensure that the public has access to their money from banks, the Reserve Bank of Zimbabwe has introduced a new family of banknotes which will gradually come into circulation, starting with the 10 trillion,” read the statement from the RBZ. With effect from January 12, workers can now withdraw their entire January salary in cash as long as they produce their current pay slips.

But what does this help? Nothing! Even if people are able to withdraw their salaries and get Zimbabwean dollars for it, what are they going to buy with the money as virtually everything in Zimbabwe is now being charged in US Dollars. The only thing one can do with those Zimbabwe dollars is to go onto the black market and buy foreign currency.

The more local currency printed, the more trading that will take place on the foreign market as no one really wants to be holding onto Zimbabwe dollars at this moment in time as the value is decreasing every second. Inflation in Zimbabwe has spiraled out of control. According to last official estimates, inflation in July of last year stood at 231 million percent in the country.

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