HARARE , Zimbabwe ( CNN ) -- Zimbabwe 's central bank will introduce a $ 50 billion note -- enough to buy just two loaves of bread -- as a way of fighting cash shortages amid spiraling inflation . Zimbabwe 's dollar is virtually worthless , with foreign currency now being used to purchase basic items . The country 's acting finance minister , Patrick Chinamasa , made the announcement in a government gazette released Saturday . Although Chinamasa did not give the date on which the $ 50 billion and new $ 20 billion notes would come into circulation , an official at the Reserve Bank of Zimbabwe said the notes would be distributed to all banks by the end of Monday . Zimbabwe is grappling with hyperinflation now officially estimated at 231 million percent , and its currency is fast losing its value . As of Friday , one U.S. dollar was trading at around ZW $ 25 billion . When the government issued a $ 10 billion note just three weeks ago , it bought 20 loaves of bread . That note now can purchase less than half of one loaf . Realizing the worthlessness of the currency , the RBZ has allowed most goods and services to be charged in foreign currency . As a result , grocery purchases , government hospital bills , property sales , rent , vegetables and even mobile phone recharge cards are now paid for in foreign currency , as the worthless Zimbabwe dollar virtually ceases to be legal tender . Once a regional economic model , Zimbabwe is in the throes of an economic crisis , with unemployment running at more than 80 percent and many families unable to afford a square meal . President Robert Mugabe 's critics blame his policies for the economic meltdown , but he says the West is sabotaging his efforts . In order to attract foreign currency , Zimbabwe 's central bank has , since September , licensed at least 1,000 shops to sell goods in foreign currency . All mobile phone service providers are now licensed to accept foreign exchange for airtime and other services . John Robertson , an economist in Zimbabwe , said he 's puzzled by the introduction of the $ 50 billion and $ 20 billion notes . `` I am not really sure what these notes would be for , '' he said . `` No one now accepts the local currency . It is a waste of resources to print Zimbabwe dollar notes now . Who accepts a currency that loses value by almost 100 percent daily ? '' In August , the RBZ slashed ten zeros from the currency . But the zeroes have bounced back with more vigor . A power-sharing deal between Mugabe and opposition leader Morgan Tsvangirai signed in September , and brokered by former South African leader Thabo Mbeki , raised hopes of halting Zimbabwe 's plunge into economic destruction . But the pact has stalled over the allocation of key cabinet ministries , with Tsvangirai accusing Mugabe of grabbing all key posts such as defense , home affairs , local government , foreign affairs and finance .
Zimbabwe grappling with hyperinflation estimated at 231 million percent . The country is also struggling to pay its debts and has been forced into a currency swap deal with the International Monetary Fund that will see it receive about $23 billion in aid over five years. The country slashed 10 zeros from the amount of its worthless currency in August . RBZ has allowed most goods and services to be charged in foreign currency .