Zimbabwe issues new $1-, $5-, and $10-billion notes

In what seems to be a weekly occurrence, the Reserve Bank of Zimbabwe introduced another batch of new high-denomination notes on December 19, 2008, in a futile attempt to keep ahead of the highest inflation in the world (officially at 231 million percent, but independent estimates are 500 quintillion percent). The highest denomination (for now) is a new 10-billion-dollar note worth approximately US$20 on the black market when introduced yesterday. The bank also issued new 1- and 5-billon-dollar notes. Hyperinflation in Zimbabwe is so bad that prices double daily and most goods are in short supply.

Courtesy of Thomas Augustsson.