The Reserve Bank of Zimbabwe (RBZ) has refuted reports making rounds on social media alleging that it has introduced higher denomination.

RBZ governor John Manguya says nothing of that sort has been introduced.

This came after pictures of ZW$1000 note went viral on social media, triggering public speculation.

“We have not introduced higher denomination, all those pictures making rounds are malicious messages by people who generate fake news to cause false alarm and public despondency.

“People should ignore such messages,” he told the DailyNews.

The local currency Zimdollar continues to lose its purchasing power on a daily basis, with inflation being the highest in the world.

According to renowned American economic analyst Steve Hanke Zimbabwe should dolarise urgently. He calls for the resignation of Finance and Economic Development minister Mthuli Ncube.

“Today, I measure inflation in Zimbabwe at a STAGGERING 1,558%/yr. That’s the world’s HIGHEST INFLATION RATE.

It’s time for INCOMPETENT Finance Minister @MthuliNcube
to take the exit door,” posted on his X handle recently.