Friday, January 16, 2009

RBZ unveils $10, $20, $50 and $100 Trillion Notes

Forget $100 Billion or even 1 Trillion lets jump to $10 Trillion. The Zimbabwe Herald Reports:

THE Reserve Bank of Zimbabwe has introduced a new family of trillion-dollar banknotes in denominations of $100 trillion, $50 trillion, $20 trillion and $10 trillion that go into circulation today, starting with the $10 trillion note.

The $20 trillion, $50 trillion and $100 trillion notes will be introduced gradually.

In a statement yesterday, the Reserve Bank of Zimbabwe said the notes would 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 Z$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 payslips.

The new notes have the same security features as the existing ones: a colour shift stripe with RBZ printed on it, the Zimbabwe Bird colour shift on the front, and see-through of the values on either side which are in perfect register.

The $10 trillion note has the image of the RBZ Building and the Conical Tower at the Great Zimbabwe National Monuments.

The $100 trillion note has the image of a buffalo and the Victoria Falls, the $50 trillion the Kariba Dam spilling and an elephant, while a mineworker drilling in an underground shaft and the GMB grain silos appear on the new $20 trillion note.

RBZ last week introduced $10 billion, $20 billion and $50 billion notes with a view to enabling workers to access their full salaries

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