The story

Zimbabwe's central bank is introducing a $500 million note -- the highest current denomination -- as the once-prosperous southern African nation battles against spiraling hyperinflation.

Finance Minister Samuel Mumbengegwi made the announcement about the new note in a government gazette set for release Friday. On the back, the purple cotton bill will feature pictures of dairy cows being milked mechanically and a miner drilling underground, he said.

The Reserve Bank of Zimbabwe (RBZ) last week introduced a new set of denominations, including a $100 million note, but that has not helped to clear long lines for cash at banks. Some people sleep outside banks after failing to get cash. Read full article »

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