Zimbabwe will soon introduce higher denomination banknotes, up to one million Zimbabwean dollars, in a bid to ease the effects of hyperinflation, the country's central bank said on Monday.
The southern African country lopped 10 zeros off the currency on 1 August, but it continues to lose value as inflation surges.
The government put inflation at 230 million percent for July, the world's highest, although the Washington-based Cato Institute foundation estimates it now at 10.2 quadrillion percent.
Currently, the highest denomination banknote is Z$50,000, not enough to buy a loaf of bread, and the central bank plans to introduce Z$100,000, Z$500,000 and Z$1 million (about $US8) banknotes in a bid to help consumers battling to make simple purchases.
Zimbabwe's economic crisis - blamed on President Robert Mugabe's policies - has worsened during a stalemate over cabinet positions in a power-sharing government which the veteran ruler agreed to form with opposition rival Morgan Tsvangirai on 15 September.
Analysts say the power-sharing pact offers the best chances of hauling the country out of its worst economic crisis, but hopes of a quick turnaround have been dimmed by a disagreements over key ministerial appointments, which now threatens the deal.
