The Zimbabwe Government has issued new banknotes to help cope with the country’s inflation.

The Reserve Bank of Zimbabwe has issued new banknotes in denominations of ten and twenty thousand Zimbabwe dollars (ZWD) in order to deal with the country’s hyperinflation – reported by the BBC News to be at 11.2 million %.

Queues have been seen at cash points around the country as the new Z$20,000 banknote (reportedly worth only around £11 on the black market) has also been set as the maximum daily withdrawal limit for Zimbabweans. Previously, only Z$1,000 was allowed to be withdrawn – barely “enough for four minutes cellphone airtime”, according to the Movement for Democratic Change (MDC), Zimbabwe’s Opposition Party.

The Party has also stated that the cash crisis is forcing “young children and pregnant women to sleep outside the banking halls for a chance to withdraw their money.”

These events follow the Zimbabwean Government’s redenomination of the dollar at the beginning of August at a rate of 10,000,000,000 old ZWD to one new ZWD – in July, £1 was equal to Z$1.2 trillion and a Z$1 billion note was issued.

Click here to read ICM’s previous article regarding Zimbabwe’s inflation.