Sun, Nov 23, 2014
A A A
Welcome kbr175@gmail.com
RSS

Commodities Briefing - Categorized | Currencies more

Zimbabwean currency is worthless

Posted on 30 January 2009

From Guardian: Zimbabwe’s prolonged economic crisis has forced the government to allow businesses to trade officially in foreign currencies alongside the local dollar.

Acting finance minister Patrick Chinamasa said scrapping foreign exchange controls was necessary to tackle hyperinflation, last measured at 231 million per cent. Although the central bank has slashed 13 zeroes from the Zimbabwe dollar over the past three years, the currency is virtually worthless; the newest banknotes carry face values of up to $100 trillion….. Full Article: Source


 Article link

This post was written by:

VRS - who has written 38089 posts on Opalesque Commodities Briefing.


Contact the author

Comments are closed.

banner
November 2014
S M T W T F S
« Oct    
 1
2345678
9101112131415
16171819202122
23242526272829
30