Chairman of the Central Bank of Zimbabwe Gideon Gono (Gideon Gono) has accused local commercial networks in the ultra high inflation in the country, reported AFP. He called retailer to "protect the interests of consumers."
Gono said this a few hours after the introduction of CBR issued banknotes in denominations of 100 million Zimbabwean dollars. According to him, every time the Central Bank releases a new bill, the prices unreasonably increased. 100 millionth note on the purchasing power of roughly equal to U.S. $ 14.
This year the Zimbabwean Central Bank put into circulation new banknotes are already 27. Nevertheless, the State did not manage to pace with the highest inflation in the world. The increase in prices reached a record in July, which amounted to 231 million per cent year on year. When Gono was headed by Central Bank in 2003, inflation stood at just above 600 percent.
Holders of deposits at banks stand in long queues to collect the funds from deposits but often they can not because of the fact that banks do not have enough cash.
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