( CNN ) -- Zimbabwe will introduce a $ 1 million note this week as the country tries to ease the effects of hyperinflation , the country 's central bank said Monday . A money-changer in Mozambique holds Zimbabwean $ 10 million and $ 50 million bills in May . In August , the highest note in the once prosperous southern African country was Z $ 100 billion . The country chopped off 10 zeroes , meaning the highest note was temporarily -- and briefly -- Z $ 10 , until Zimbabwe started issuing bigger notes again . The current highest denomination bank note is Z $ 50,000 , not enough to buy half a loaf of bread . Zimbabwe 's currency continues to lose value as inflation gallops ahead . The official rate of inflation is 230 million percent , the world 's highest , but independent analysts put the figure in billions . `` In the measures under way , the Reserve Bank [ of Zimbabwe ] plans to introduce a number of new , higher denominations ; review the cash withdrawal limits , as well as commence aggressive campaigns for increased usage of alternative means of payment , '' bank governor Gideon Gono said in a statement . Gono said the RBZ intends to introduce Z $ 100,000 , Z $ 500,000 and Z $ 1 million ( about U.S. $ 8 ) bank notes in a bid to help consumers who are battling to make simple purchases and to ease cash shortages that have been prevailing for about two years . President Robert Mugabe 's critics blame his policies for Zimbabwe 's near decade of economic crisis . A power-sharing agreement between Mugabe and opposition leader Morgan Tsvangirai that was signed in September has been deadlocked over a distribution of cabinet posts . The power-sharing deal is seen as the only hope to reverse the economic crisis . Meanwhile , the fight against a cholera outbreak in the capital city , Harare , seems to be faltering as more deaths are reported . Official statistics say 10 people have died since last week , but doctors say the disease has killed more than 30 . The country is battling to raise foreign currency to import medicine .
Zimbabwean 's inflation rate is officially 230 million percent per year . Independent analysts say the rate is really billions of percentage points . Country has issued bills as high as Z Z50,000 in the past . Current highest note , $ $ 100 billion , is not enough to buy billions a loaf of bread .